Couple taps into informal business

 FORMER teachers Joseph and Christine Simbiken believe there is demand for accommodation in Port Moresby, especially for young professional women. 

The couple from Bukitu village, in the Yangoru-Saussia district, East Sepik, has ventured into an informal business after retiring from teaching with the National Department of Education and International Education Agency of PNG Ltd.

They have a house on Gahunagaudi Drive at Gerehu Stage 1, Port Moresby, which they have renovated. 

They have placed white goods and are renting out four rooms to single women for K250 per week.

They taught with NDoE for 15 years and with IEA for 20 years, bringing to a total of 35 years. 

While with IEA and under the IEA Home ownership scheme, Joseph and Christine bought two properties in Port Moresby.

After going into retirement in 2012, they paid off the Bank South Pacific housing loan and received the title to their second property. 

They had a clear intention of developing one of their properties to rent out. 

They visited and enquired with BSP, ANZ and Westpac commercial banks for financial assistance. They enquired with the National Development Bank as well. They finally secured a loan from the NDB for an interest rate of 6.5 per cent to develop one of the properties into rooms for rent. 

“Our main focus was to provide cheap, affordable accommodation for single female professionals to rent. 

“We believe there is a need in that area. The single rooms come with shared facilities, with Hitron TV and air-conditioned living room,” Joseph said. 

“Providing security is a priority.  We live onsite and have to make sure the tenants are safe and live in a friendly environment.”

As former teachers, they wanted to try out a new challenge in life. 

The couple shared their new experiences and encouraged working class people to plan for life after their current jobs.