NHC to provide affordable housing

NEW affordable housing will soon be on the market.
This follows the National Housing Corporation and Papua New Guinea Forest Products Ltd undertaking a joint a community housing development programme.
In a signing ceremony last Friday in Port Moresby, Housing and Urbanisation Minister Ken Fairweather said he had issued directives to the corporation and the National Housing Estate Ltd to “think public but act private”.
The signing of the memorandum of understanding between the corporation and PNGFP will see the roll-out of the community housing development programme.
Fairweather said the development
of any social infrastructure in PNG was best developed by the private sector in partnership with public.
He said for that reason, the creation of the National Housing Estate Ltd by the government was commendable.
The new programme, under the public-private partnership approach, will see the corporation, through its delivery vehicle, the National Housing Estate Ltd, ensure value for money and share the risks with the private sector in housing development.
“Risk is transferred to the partner that is best able to manage that risk, generally the private sector bears the financing, delivery and completion risks while the NHC bears risks associated with service delivery, land acquisition and registration and meeting minimum revenues to ensure the projects remain financially viable,” he said. 
Fairweather said the primary objective was to develop unused land and provide affordable housing.