Business

$15m Project in Nadi

RACHNA LAL SUVA SUN Insurance will start works on its $15 million LHM Architects-designed property construction in Nadi early next year. SUN Insurance chief executive, Lolesh Sharma confirmed this. Mr
09 Aug 2014 10:27

An artist’s impression of SUN Insurance’s $15 million LHM Architechts-designed property which will be built in Nadi. Photo: SUN INSURANCE

RACHNA LAL
SUVA

SUN Insurance will start works on its $15 million LHM Architects-designed property construction in Nadi early next year.
SUN Insurance chief executive, Lolesh Sharma confirmed this.
Mr Sharma said this seven storeys building will be for mixed use and will be literally five minutes walk from the Nadi International Airport.
It will consist of high end office block and potentially serviced apartments for the business travellers.
Its proximity to the Airport makes it ideal for Suva-based head offices wishing to set up a branch office in Nadi.
“The Project was slightly delayed as relevant approvals had to be sought in view of the close proximity of the building to the International Airport,” Mr Sharma said.
Furthermore, he confirmed with this project, they will be employing around 200 to 250 people at its peak meaning more job creation for the west.
Mr Sharma said this $15 million project will be financed internally via reserves.
Mr Sharma said they decided to diversify into this investment as they see big demand for flood-free high-end and well-constructed office blocks in Nadi.
“This is combined with SUN wanting to elevate its presence in the western division,” he said.
“Further being a local company, we have to look for sound investment opportunities and this project is exactly proving itself to be sound with majority of the floors being snapped up.”
Mr Sharma described the business climate in the country at the moment as very bullish.




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