Gobuta Estate ready for tenant

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The first tenant is expected to move into the Gobuta Estate at Tokarara, Port Moresby, at the end of next month.
This was the message from the developer Berkeley Capital during a site visit by National Housing Estate Limited (NHEL) board members last Friday.
Gobuta is a joint estate developed by NHEL and Berkeley Capital.
NHEL chairman Kevin Ahipum said the joint venture was a classic example of what they were trying to develop in terms of housing for Papua New Guineans using the three-piece arrangements – public and private partnership.
“Houses are being built as per run down of funds from the banks and financiers for the first deposit by the home owners,” he said.
“We feel that our partnership here is a strong partnership that can develop some projects in other areas of the country and also throughout Port Moresby.”
Ahipum said Papua New Guineans should look towards this type of arrangement in such projects.
“This project is self-funded through the joint venture. NHEL through government’s equity we have 40 per cent stake in this project and as the financier and our partner Berkley Capital have 60 per cent in this arrangement.
“It is a strong arrangement that Papua New Guineans need to develop and an arrangement that commercial entities need to embrace and take on board.
“And other government departments looking at house ownership schemes, institutional housing, they should talk to us, talk to Berkley Capital, to National Housing Estate for such arrangements in such projects.”
Berkeley Capital construction development consultant Lauchlan Leishman Snr said all 48 houses were three-bedroom houses with two bathrooms, air condition and built to Australian standards.
“The first house will be finished on schedule towards the end of November.”
He said 46 houses have been pre-sold with only two remaining.

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