Edai town driving affordable housing

There is still a high demand for affordable housing in the country. Edai Town director Kym Yong gave Business Editor PETER ESILA an update on the town’s housing development progress and plans for the future.

Q: What is the current phase of the Edai Town housing project?
KYM YONG: We are on Phase Three, with 91 more units to go. We competed EDAI Centro, the first of three gated housing estates in Edai town. This will be followed by the development of 220 high-set stand-alone four-bedroom houses on Edai West. Edai Town is a satellite township that is becoming the residence of choice for many discerning homeowners and investors. Its reputation as a tranquil and secure ambience reflects the developer’s vision of urban living re-defined. Located less than 20 kilometres from Port Moresby, the town is a sanction of safety and serenity away from the bustle and chaos of Port Moresby city. There is 24/7 uninterrupted water and power supply, one of the attractions that has made many working in Port Moresby call Edai Town home.
The transformation of the savannah land into a community within a decade since construction started in 2014 is evident. This township now houses more than 2,000 residents in 400 homes, with young children getting a head-start in education attending early learning classes and primary schooling in the neighbourhood. The mini-market stocks fresh strawberries from the highlands and tasty pizzas from the bakery. They receive rave reviews from residents and visitors. Fresh fruits and vegetables from the neighbouring village gardens are sold in the neat and airy market stalls. Fish and crabs are caught from the nearby sea and rivers.

Q: What is the current number of families/residents at the township?
KYM YONG: Some 2,000 residents (400 families). There is still demand for affordable housing. Pioneer owners took up residence in 2016 and Edai Town has since been recognised as an established township. Development of Edai Centro, the first gated and guarded housing estate, will be completed shortly. Development to date has meant that the township has gained critical mass and it is timely that activities will now focus on industrial and commercial development. There are plans to develop a light industrial estate.
In terms of housing, next is the Westside Estate, a gated compound of 220 affordable individual standalone high set three and four bedroom houses on 10 hectares of town land. The high quality houses and land packages will be sold at an affordable price range not available in Port Moresby. Regular public transport services run between Edai Town and Port Moresby for the convenience of residents.
A display unit has already been constructed and is available for viewing by families who wish to take the step towards home ownership in the Westside Estate in 2025.

Q: What is the idea behind holding a SME market?
KYM YONG: Edai Town entered a Memorandum of Understanding a year ago with the SME Corporation, creating a public-private partnership. One of the objectives was to introduce a community business model to encourage local trade, with a focus on production and trading in locally produced food as an alternative to import substitution
The success of SME development in the country rests on the shoulder of the private sector with support by the government. Regular and systematic monitoring of the development of SME businesses in the country will provide a measure of its success and identify gaps that require further government support. SMEs comprise small businesses without a cohesive voice. The PPP framework allows a bridge between the government and the various interested stakeholders of the SME private business sector
Development of small and medium businesses to serve Edai Town and the neighbouring communities in a peri-urban setting will provide start-up businesses with a higher chance of success compared to more intense level of competition in urban areas and lack of purchasing power in rural areas. Setting up community business models can encourage the creation of local trade, with a focus on production and trading in locally produced food as an alternative to import substitution.
The north-west corridor is the economic growth area for Port Moresby. Development of SME entrepreneurs will support LABA Holdings in its efforts to expand economic benefits by increasing the national content for the upcoming Papua LNG construction phase.
The Hiri-Koiari Authority SME Working Group is organizing a series of weekend markets scheduled to take place between now till September 2024 that will culminate in a Hiri-Koiari Trade and Cultural Show to mark the National Independence celebrations.

The Edai town management offered the venue to hold the first weekend market on May 11 and 12. It featured agriculture as the cornerstone for revitalising the Hiri tradition while embracing modernity through use of ICT tools that will spearhead the development of small-medium enterprises and provide business pathways for micro businesses to boost economic development in Hiri-Koiari.
The business pathway through the public private partnership encourages development of small cottage industries, including sewing, food production, food processing and the service industry (hospitality, tourism etc). The private sector will work with financiers to support viable start-ups for SME businesses.

Q:  Foreign exchange supply is still the number one concern for businesses. What are some other challenges you face and how would you describe the current status of the economy and business confidence at the moment?
KYM YONG: The lack of foreign exchange availability is a challenge for all businesses in PNG. Very difficult to attract new foreign investors to PNG at this point in time.

Q: What are your views on PNG future resource projects on the pipeline and their impact on the economy?
KYM YONG: The large resource projects do not involve extensive participation by Papua New Guineans, only a small number of employees and contractors. The resource projects should only act as a catalyst for Papua New Guineans to develop their own industries. The Government needs to have a policy on national content in place to include financial assistance for Papua New Guineans to develop the SME sector.

Q: Any other comments?
KYM YONG: A modern agri-business industry is the key, starting from fresh produce to downstream processing of PNG local produce for domestic market and strategic high value/boutique items for export market.