Estate records 120-plus houses sold in phase one

Business

THE Edai Town housing estate which began in 2001 has sold more than 120 houses in its first phase of development, says development director Kym Yong.
She said that most of the home buyers had participated in the government’s first home ownership loan scheme with Bank South Pacific.
“The project was a great success as we started with the concept of affordable homes for Papua New Guineans and we started this dream or idea back in 2001,” Yong said.
She said because land was expensive in the country, they decided to come up with the concept to give locals a chance to own quality affordable homes.
“So it has been a process as we got the houses built in 2014 and 2015 and people started moving in in 2016,” she said.
Yong said 161 homes were built in the first phase with 120 now occupied.
“The rest have been sold but in various stages of settlement,” she said.
“There are already many people signing up for the 146 phase two houses.
“So to get into one of those homes where everything is outfitted costs less than K400,000 which is less than what you will ever get in the city.”
Edai town will have all the banks operating there.

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