SUN Insurance Company Ltd is poised to break ground on an innovative five-story building in Suva, Fiji, following a recent announcement made at the South Pacific Stock Exchange (SPX). The company has entered a $30 million construction contract with Fortech Construction Ltd for this significant development.
Chairman Padam Lala underscores the project’s role in SUN’s growth strategy, addressing the rising demand for quality office space in the capital. He expresses optimism about the building’s potential to expand the company’s property portfolio while providing a beneficial impact on the local economy. The construction process is expected to generate over 100 temporary jobs, offering employment opportunities for both skilled and unskilled laborers within the community.
The new development will feature around 3,600 square meters of modern office space and will be strategically located adjacent to SUN’s current headquarters in Flagstaff, Suva. Tarlochan Singh, the principal officer, noted that Fortech Construction was selected for their strong track record in delivering high-quality projects.
Key features of the new facility will include two levels of underground parking, a coffee shop, an on-site gym, and amenities suitable for end-of-trip users. In addition to these, the project emphasizes sustainable design principles and integrates advanced technologies aimed at enhancing energy efficiency and environmental sustainability, aligning with SUN’s commitment to responsible business practices.
The construction is scheduled for completion within 26 months, signifying a notable advancement in SUN Insurance’s efforts to establish a stronger foothold within the Fijian economy. This investment is indicative of the company’s proactive approach following its successful listing on the SPX, where it has garnered positive interest from investors. As SUN Insurance continues to focus on growth and enhancing shareholder value, it also plays a crucial role in fostering broader economic development across Fiji.
This project not only highlights SUN Insurance’s ambitious plans but also contributes positively to the local community by creating job opportunities and enhancing the workplace environment in Suva.
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