PLANS are in progress to replace the current wooden Fiji Rugby Union building at Gordon Street in Suva with a $10m-worth state-of-the-art ten-storey building.
This was revealed by FRU chairman Filimoni Waqabaca to union delegates during the FRU special general meeting held at the Tanoa International Hotel yesterday.
Waqabaca said the proposed building would house commercial supermarkets, retails outlets, conference rooms and hotels or rented flats to accommodate national and visiting teams.
He said FRU had negotiated with interested partners and financial donor to assist in the construction of the project.
Waqabaca said the building conference room would be also be hired out.
"Once we did our review we identify four areas that needed to be addressed immediately and one of these is financial sustainability that will take Fiji Rugby forward," he said.
"This includes the construction of a new building in place of the existing one which can have commercial returns meaning it will have retail areas, commercial areas, some floors or office spaces and other opportunities for generating revenue.
"We have made our assessment and we have worked out to earn $400,000 per month after repayments.
"The income from this proposed building will be able to meet our financial demands."
Waqabaca said the board after their appointment identified few areas that needed to be addressed immediately.
"The four areas identified are financial viability, financial stability, human resource and governance and the fourth area is on the game committee."
"Financial viability has been addressed with the $40m sponsorship.
"As for human resources and governance we are putting in place policies and procedures to make the institution professional."