NATIONAL HOUSING ESTATES LTD

P.O Box 1055 | PORT MORESBY | NCD | PNG

|7TH Floor| Pacific Place | Musgrave Street| Down -Town Port Moresby | Phone: 3214231 |
Fax: 3212923 | www.nhelpng.com| admin@nhelpng.com |

Gobuta Street Estate Opening 5th September, 2015

Press Release

The National Housing Estate Limited (NHEL) and its project partner Berkeley Capital today officially opened the first new
joint venture housing project called Gobuta Street Estate located at Tokarara in the National Capital District.
The opening marks the completion of civil works including perimeter fencing, guard house and other site preparations
and also marks the commencement of the final stage of actual construction of 48 houses.
Work on the 3.2 hectare project began in April this year. Berkeley Capital, the project contractor and managers of the
K35 million Gobuta Estate, has expressed confidence that the project will be completed and delivered within record time
in April of 2016. Berkeley has offices in Hong Kong, Singapore, Malaysia, Brisbane, Cairns and has ventured into PNG six
years ago, but this project marks the first major project undertaken in the country with NHEL.
The houses will be built using the same Australian standards with the highest quality materials but are affordable to PNG
purchases with the sale price between k500,000-K600,000 per house as land/house package.
About 85% of the houses have already been presold to PNG owners.
NHEL Executive Chairman Kevin Ahipum has encouraged interested homebuyers to pursue existing BSP first time home
buyer facility, or any other commercial banks to obtain finance for the remaining houses.
Mr Ahipum said the property will have a body corporate to maintain and manage the integrity of the 48 housesmeaning there will be no abandoned cars left on the roadside nor any unauthorized extension of houses.
Meanwhile, Mr Ahipum has expressed his sincere gratitude to Berkeley Capital and all the key stakeholders that
contributed to the success of the project thus far.
Today also marks Mr Ahipums first year at the helm of NHEL, and he has expressed satisfaction that one of the key
projects initiated under his management is now on the final stage of completion.
The other key projects are the k800 million Gabutu Place Project to be developed by the Korean Consortiums following
the granting of the development license last week, and the K3 million Ombudsman Housing at Gerehu 382 to be
completed within two months.
Mr. Ahipum also commended the residents and community of Gobuta or Four Corner especially the youths for their
corporation thus far.

Mr. Ahipum added that as part of the NHELs gratitude to the community and youths, he has committed to provide
funding for the upkeep and maintenance of the sporting field as a token of appreciation and giving something back to
them.
Four Corner has been neglected and forgotten because of its location at the fringes of the suburb, but not anymore.
This will all change as of today. This new development will add a new landscape to this part of Tokarara. As a token of
our appreciation to the community, I will ensure the field is given the facelift that you can be proud of.
Berkeley Capital Group Managing Director and project manager Lauchlan Leishman said that the speed and success of
the project to date has delighted him.
The success of the project has given Berkeley Capital the trust and confidence that the partnership with NHEL is on the
right footing and this will go a long way in delivering more quality but affordable houses for many more PNG home
owners in the years to come, Leishman said.
I believe todays occasion can only confirm what will be a positive and rewarding relationship ahead for both of our
organizations.

NATIONAL HOUSING ESTATES LTD

P.O Box 1055 | PORT MORESBY | NCD | PNG
TH
|7 Floor| Pacific Place | Musgrave Street| Down -Town Port Moresby | Phone: 3214231 |
Fax: 3212923 | www.nhelpng.com| admin@nhelpng.com |

Berkeley Capital
The Berkeley Capital Group of Companies is a Hong Kong based independent group, providing truly comprehensive advice on Property
Development, Construction, Project Management, Investment & Financing. Berkeley has offices in Hong Kong, Papau New Guinea, Malaysia, United
States of America, Australia & British Virgin Islands including Kuala Lumpur, Port Moresby, Cairns, Port Douglas and Los Angeles. The current
Group Managing Director is Lauchlan Leishman Jnr. Visit: www.berkeleycapitalasia.com/corporateadvisory | Tel: +852 3125 7664 |FAX: +603
2117 5243 | Email: info@berkeleycapitalasia.com