SUNBIZ

Refurbished Ratu Sukuna House Lights Up

“Thanks to the current Government that in the last two budgets a policy has been adopted that if asset owners renovate a building within the city boundary the entire expanses can be considered for a budget as a taxable element,” he said.
16 Sep 2019 18:07
Refurbished Ratu Sukuna House Lights Up
Ratu Sukuna House at night

The $2m Ratu Sukuna House facelift has been completed on time.

Renovating works at Ratu Sukuna House in Suva was expected to be completed by the end of August.

At an earlier interview, Fijian Holdings Limited Group chief executive officer Nouzad Fareed said despite the challenges the upgraded building is complete.

China Railway First Group is the contractor. While business continues as usual for tenants spaces are available for those intending to secure a commercial space.

“Ratu Sukuna House and Vanua House are very old. Ratu Sukuna House is more than 30 years old and we have spent money on it,” Mr Fareed said.

“Thanks to the current Government that in the last two budgets a policy has been adopted that if asset owners renovate a building within the city boundary the entire expanses can be considered for a budget as a taxable element,” he said.

“There are some benefits for building owners who want to refurbish a building within the city boundary. We are taking advantage of the deal that is why we are refurbishing our buildings.”

Mr Fareed said the refurbished Ratu Sukuna House was like no other.

“We spent more than $1 million on Vanua House and Ratu Sukuna House is more than $2m. This is because Ratu Sukuna House has elco panel.

“The last 12 years the building has been peeling and the tiles all around have started to slowly come out.

“It can be a risk to pedestrians.”

FHL properties are 100 per cent owned by Fijian Holdings. FHL properties are one of the largest real estate owners in this country. FHL owns Vanua House, Ratu Sukuna House, Ra Marama, 70 acres in Momi, an island after Yasawa, FHL Tower and Yasana Land.

Feedback: wati.talebula@fijisun.com.fj

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