Kaupa wants projects delivered

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HOUSING and Urbanisation Minister John Kaupa says foreign investors in the housing and property sector must have full financial capacity to deliver projects themselves.
Kapua said this in Port Moresby yesterday when being briefed on some proposals for joint venture housing projects that the National Housing Estate Limited (NHEL) – a business arm of the National Housing Corporation – was entering into an agreement with foreign and local property developers.
“As the Minister for Housing and Urbanisation, I welcome investors into the housing and real estate sector because of the need for affordable housing in our urban centres,” Kaupa said.
“But it is also important that those developers who wish to enter into any agreement with the government through NHEL or the National Housing Corporation, should have the financial capacity to deliver the project successfully.”
He said this was important to guarantee project success.
“Sometimes foreign investors acting as middlemen get approvals and support from the Government because of their sweet talks but projects are left incomplete or at times unattended because of funding constraints.”

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