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FNPF Options For Ganilau Open, Says Kodagoda

The Fiji National Provident Fund will look at a number of ways it ‘ could use Ganilau House after the deal is done. Fund chairman, Ajith Kodagoda, said first of
23 Oct 2014 09:35
FNPF Options For Ganilau Open, Says Kodagoda
ATH chairman, Ajith Kodagoda (right), with ATH director Taito Waqa and Vodafone Fiji chief executive, Pradeep Lal during the ATH annual general meeting at the Grand Pacific Hotel yesterday. Photo: RAMA

The Fiji National Provident Fund will look at a number of ways it ‘ could use Ganilau House after the deal is done.

Fund chairman, Ajith Kodagoda, said first of all it needs to get redeveloped into a commercial property.

“This is as the property has not been well-looked after for many many years,” he said.

“We feel FNPF is more suitable because their core business is real estate and property.

“So once FNPF purchases it, I’m sure it will spend substantial amounts of money to bring it to the right standards.”

Mr Kodagoda said their options for the building are open.

“We will then look for tenancy or conversion into a city hotel – I will let the experts decide what they do with it. The option are open,” he said.

The funding for the purchase will come through FNPF’s investment fund.

“It is no different through how they purchased the FINTEL building,” he said.

“Acquisition of good properties of commercial value is one of the core businesses of FNPF’s investment portfolio.”

Feedback:  rachnal@fijisun.com.fj

 



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