Teachers’ union makes investment - Solomon Star News

Teachers’ union makes investment

24 February 2014
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An initial investment of $4 million will take place at the new Vuda Hideaway Resort, a fifteen-minute drive from the Nadi International Airport.

The resort is the second investment of the Fijian Teachers Union — Co-operative Thrift And Credit Ltd’s (FTU-CTCL) engagement in the tourism sector.

During the ground breaking ceremony, board chairman Agni Deo Singh said, they will spend up to $25 million after completion of the resort in five years.

And come that time, the market value of the resort, he said, would be $40 million.

“The first stage will have a spending over $4 million, and it is going to constitute 20 up market bures,” Mr Singh said.

“We will target close to five star achievements and it will be honeymoon couple destinations and a wedding chapel. The whole project will completed over the next five years.

“We hope to complete about 80 bures. This investment should come to $25 million.”

He the resort will be constructed on 12 acres of prime land for tourism.

Employment

Up to 30 people from Vuda will initially be employed while neighbouring farms will supply food and vegetables for the resort.

“According to our marketing team, we have known that Australia and New Zealand will be our niche market, therefore we are going to grow with the people of Fiji and also with the government,” he said.

Chief guest Ratu Ponipate Turuva who officiated on behalf of the Turaga Tui Vuda applauded the development plans put forward by FTU-CTCL.

Chief applauds move

“The vanua and the people of Vuda are indeed blessed and happy to have great investors by the FTU-CTCL for this kind of project to be hosted here,” Ratu Turuva said.

“The vanua of Vuda is always being opening it arm for the people of Fiji when it comes to development and we will assist and assure you that when it comes to set of business in the vanua.

“This is a grand and historic place where our forefathers arrived in Fiji through this place where we have gathered, let us walk together.”

The FTU-CTCL acquired the Hideaway Resort on the Coral Coast in 2008 which proved to be positive for the benefits of their members.

Suva (Fiji Sun)

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