The new K50 million development on Second Street in Lae (pictured) is destined to set a new standard for quality and excellence in the Lae property market once it is completed by mid 2011.
The building, 100% owned by the largest superannuation fund, Nambawan Super Ltd will comprise of basement car parking, five levels of high quality office/commercial space and two penthouse levels of premium residential space.
Contractor is Lae Builders and Contractors, architect is Pacific Architect Consortium (PNG) Ltd Project managers is Point Project Management, Civil and structural engineers is Kramer Group, and services engineers is M&E Partnership Ltd.
“Nambawan Super Limited has realised that the continued growth and prosperity of Papua New Guinea relies on the creation of suitable buildings and facilities,” said managing director Leon Buskens.
“Both Port Moresby and Lae are currently lacking office and residential accommodation as evidenced by the high rental rates being paid.
“As part of a wider investment strategy, Nambawan Super Limited is in the process of constructing a number of ‘landmark’ buildings including the new Lae ‘Top Town’ Building; an affordable housing development at Eight-Mile in Port Moresby and a multi-storey mixed commercial / residential building in Port Moresby CBD.
“All these projects provide a balance between responsible investment in PNG’s future and solid returns for members of the fund.”
Lae Builders and Contractors Limited (LBC) has been awarded the construction contract for the ‘Top Town’ building and will employ 220 people from around Lae and PNG for approximately 2.5 years while the job is progressing.
Skilled employees will range from programmers and health and safety officers to electricians and bricklayers.
“Mike Gibson is the commercial and contracts manager for LBC and it is his responsibility to coordinate all the various work packages,” Mr Buskens said.
“Most material for the building is being manufactured locally by Lae Builders, which adds a second tier of investment into the local economy.
“For instance, LBC has commissioned its own concrete batching plant and concrete beam manufacturing facility.”
Only recently, LBC chairman, Sir Bob Sinclair, presented an overview of the construction techniques involved with this complicated structure to building students at the University of Technology in Lae.
“The project will provide a valuable ‘real world’ learning tool to the construction professionals of the future,” Mr Buskens said.
“The total cost of the project is approximately PGK 50,000,000 and completion is expected in mid 2011.
“As part of the project, Nambawan Super will be investing in local infrastructure such as electricity sub-stations.
“The building will also be a step into the future for PNG.
“The design team has worked hard to ‘future proof’ the building by incorporating features such as energy-efficient chillers, energy-efficient lighting, high quality glazing that limits energy loss, low water bathroom appliances and sun hoods to limit temperature rise caused by solar heating.
“In addition, the building has the latest fire safety systems including an independent tank for fire water supply.
“Ease of maintenance has also been a major consideration to ensure that the building maintains its status as the prime address in Lae for many years.
“The stunning design by Pacific Architect Consortium of Port Moresby offers a choice of one or three-bedroom apartments or commercial space with a floor plate of up to 900 square metres.
“The positioning of the building on ‘Top Town’ hill guarantees spectacular views of both the Finisterre Ranges and the Huon Gulf.
“It is expected that the new ‘Top Town’ building will be the first in a long line of developments that will reinforce Lae’s position as a major city within the region. “Nambawan Super Ltd has engaged the services of Point Project Management who are based in the offices of Rumbam Engineers in Port Moresby.
“Point will be working with prospective tenants to ensure the facilities are fit for purpose and can drive business success right through the next decade.”
• For further information about the building or for prospective tenancy information please contact Justin Parker on justin.parker@pointpm.com.au
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