The National Housing Corporation today signed the long awaited Duran Farm Housing Memorandum of Agreement (MoA) with two of the five selected project developers in Port Moresby.
Minister for Housing, Justin Tkatchenko and NHC Managing Director, Henry Mokono signed the MoAs with the first selected developer, Chinese Steel Estate Company and second developer, PNG Resources Corporation to finally kick start the low cost housing project that the government has committed to all Papua New Guineans.
“Thank you to the new Managing Director, Henry Mokono for his direction and foresight in moving things forward and finally getting some results that we’ve been trying to do for the last two years. This is to finally develop Duran Farm for the benefit of our middle class and low income earners of our capital city,” Justin Tkatchenko said.
He said when they put out the tender for possible bidders, they received about 50-60 interested candidates. After conducting an independent assessment, the NHC has selected five successful bidders. One of the conditions is that the company or developer’s ability to start-up the project initially without the government’s financial assistance.
“It’s very important opportunity for our company. Our company CSEC Steel is one of the biggest construction company in the world. Now we have several years’ experience in Papua New Guinea, starting with the Butuka Academy and also with the Hilton Hotel stage 2 and also the Steamship Harbour side South project,” CSEC Steel Managing Director, Jacky Feng said.
The second successful bidder and the only Papua New Guinean company to win the bid was the PNG Resources Corporation, which operates under the name commonly known as the ‘Kwik Built Homes’.
“PNG Resource Corporation operating as Kwik Built project. We are the only nationally owned and operate a local company that will be taking part in the Duran Farm project.
“We thank the Marape government and the NHC for giving us the opportunity for taking part in this milestone project,” PNGRC Managing Director, Desmond Wapen said.
Mr Mokono said that in the first phase the five developers would build 2525 houses, which would be divided equally among the developers with all utilities and services provided.
“What we look into is the capacity on how much they can deliver within specific times, so this will be done in stages depending on their resources. Most of them will need front up cash to deliver those houses, so they will work within their own schedules to deliver and how fast they sell,” he said.
The other three companies to be signing MOA later are from Singapore, Australia and another foreign building company but PNG based.
