Business News

LO company moves into Real Estate Industry

A landowner company fromthe resource rich province of Hela has moverd to invest inthe Real Estate industry inthe National Capital.

The Komo Umbrella Joint Venture has invested about five million kina inthe property market.

Managing Director, Alois Francis saidthe company will also explore ther potential investments.

The real estate industry is a thriving business atthe moment – a major demand inthe capital, Port Moresby.

Withthe niche in residential property,the demand for up market housing has skyrocketed inthe last couple of years brought on bythe introduction of new business ventures. This has contributed to high rental costoandthe ones hit hard here arethe middle and low income earners.

The Komo Umbrella Joint Venture Company has set its focus on this particular group withthe aim of building accommodation units at affordable rates.

The message this group has for landowner companies and aspiring local business men and women is to invest in sustainable projects that will bring benefits for the long term.

KUJV got intothe real estate industry two years ago. It has invested in about 12 properties by far. That number is expected to increase.

Bet that’s not all;there is a special feature aboutthese properties and that is making allowance for the mobility of disabled people.

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