Work on the new joint venture housing project, “Gobuta Street Estate” in Port Moresby is progressing well.
Construction on the first 35 houses is nearing completion with the first tenant expected to move in by November.
The project is worth K35 million and is expected to be completed by March 2017.
The “Gobuta Street Estate” located at Tokarara, is a joint venture housing project between the National Housing Estate Limited and Berkeley Capital.
The 3.2 hectares project began in April last year with a target of building 48 houses. Work on the first 35 houses has already started, with the last 7 houses to begin soon.
NHEL Executive Chairman, Kevin Ahipum, said despite a few challenges, the project is going ahead as planned.
Almost all the houses have been presold to PNG owners with a cost of between K560,000 and K600,000.
Contractor and manager, Berkeley Capital, say they are confident that Gobuta Street Estate will be completed and delivered on time.
The 48 houses are being built to Australian Standards with quality materials. So far the project is providing employment for locals with 150 workers currently on site.
