LAE-based Hornibrook NGI Ltd has acquired the 47ha Awilunga estate for an undisclosed amount of money amid increasing demand for commercial and industrial land and real estate.
Ideally located along the junction of the Lae-Wau-Bulolo-Highlands Highway at 9 Mile outside Lae, the property will be the site of Hornibrook’s planned staff housing and company offices and machinery depot.
The company also planned to build a commercial park here to meet rising demand for commercial, industrial and office space.
Hornibrook director Sherron Lewis yesterday said: “Due to the increased business activities, Lae is running short of real estate areas for both industries and housing as most available property were under dispute.”
A major steel fabrication company enjoying a good business, Hornibrook bought the estate from Steamships and will assume ownership of the property next month.
“Our business in Lae was expanding and we do not have enough space,” Mrs Lewis said, adding that the new property would enable them to hire more nationals.
She said to address the shortage of housing, the company plans to build “cluster housing” for its national staff.
The proposed Awilunga housing estate boasts of 30 units with beautiful landscape, sufficient water, an uninterrupted power supply and a 24-hour security provision.
The other side of the estate would cater for the industrial park and rental building office lots.