A Heads of Agreement contract was signed today for the re-development of the Moitaka Wildlife Sanctuary in Port Moresby.
The contract was awarded to Dynasty Development Limited of Rimbunan Hijau (PNG) Group.
The contract was awarded under a Land Swap arrangement, where the value of the land will be given as consideration for the development of the sanctuary.
The redevelopment of the Moitaka Sanctuary will include office accommodation and a staff home ownership scheme project of about 200 houses.
The Moitaka Sanctuary is under the care of the Conservation and Environment Protection Authority.
Managing Director, Gunther Joku, said the Heads of Agreement is consistent with the authority’s intention to redevelop the land.
The Moitaka re-development project will commence once all other outstanding approvals required by law are obtained from the relevant authorities, including the National Capital District Physical Planning Board and Department of Lands and Physical Planning, among others.
Dynasty Development Limited Executive Directors Ivan Lu and Nathaniel Ho signed the contract on behalf of the company, witnessed by Joku at Government House this morning.