As we are approaching the half year point, affordability in housing is starting to look promising. Just recently we saw the launch of Gobuta Street Estate, a housing project only 20 minutes from downtown Port Moresby.
The development is good news for countless Papua New Guineans out there who are seeking to find not only affordable but quality accommodation.
Located at Tokarara in Port Moresby, Gobuta Street Estate is a joint venture between the National Housing Estates Limited (NHEL) and developer Berkeley Capital.
Due to Papua New Guinea’s (PNG) chronic housing shortage, Berkeley Capital Asia believes that their Public Private Partnership (PPP) is a small step in the right direction towards alleviating this issue. It is their belief that such a partnership will put the National Housing Commission (NHC) in a more viable financial position to provide social housing.
The PNG National Sales Manager of Berkeley Capital stated that the development is about to set a new benchmark in exclusive and secure living.
What makes this latest development even more eye-catching is Berkeley Capital’s wealth of experience in construction, project management, cost management, design and architecture, project funding facilitation and corporate structure advice.
Put quite simply, they are well versed with the Australian Standard Housing Sub-Division and Australian Standard homes for local buyers here in PNG.
As the leading home and land provider in several countries, Berkeley Capital Asia aims to provide homes that are aligned with the housing schemes already available to Papua New Guineans in the companies they work for.
“During meetings with NHE it became apparent that there was a lack of this type of home that was accessible for people with access to their company’s Housing Scheme,” commented Reuben Kautu, the PNG Managing Director of Berkeley Capital.
The partnership with NHEL has allowed Berkeley Capital to produce affordable home within the price range of K515, 000 – K595, 000.
Australian Top Quality at an Affordable Price
Of course this price range may be out of reach for some Papua New Guineans but it’s inclusive of a number of extras not seen in your average development.
Firstly, the estate comprises of 48 homes each on their own land and all built to Australian Standards whilst even meeting the cyclone ratings of North Queensland builders.
Secondly, the homes are also stylish, secure, ready to live in, and in a location that ensures an increase in value for soon-to-be homeowners.
Thirdly, Gobuta Street Estate is also unique from other housing developments through its “turnkey” finish.
Mr. Kautu explained that this simply means that all a buyer has to do is move their brown goods in at completion.
Moreover, everything is included in the price from landscaping and separate laundry to clothes line, oven, cooktop even a dishwasher and a letterbox.
As security is an issue of concern among many Papua New Guineans, Gobuta Street Estate has also taken this into account by providing 24hour guards at the entrance gates of the estate.
Along with 24hour security and a 2m high fence surrounding the estate, the homes inside will also have their own timber fence of 1.8m.
Berkeley Capital’s Development Manager, Mr. Alex Simpson assured that this will be an exclusive estate and the hundreds of thousands of Kina being spent on landscaping will make these homes really stand out.
Other possible joint ventures with NHE may be in the pipeline for Berkley Capital but right now it’s baby steps so as to ensure that what is produced is suitable not only financially (and of good Australian quality) but culturally for the people of PNG.
With Berkeley Capital’s expertise in both pre-construction and construction, things are already looking on the bright side with over 22 properties sold in 2 weeks during the pre-launch.
If you’re interested in Gobuta Street Estate, then visit the properties listed on our website and inquire through the contact agent form.