NASFUND's vision takes shape

In early 2007, NASFUND boldly announced that it would be the catalyst for the commencement of a new precinct at Harbour City, 2km from the central business district.
At the time there was growing evidence of frustration from city dwellers that the town was becoming more difficult to move around in.
 The road ways were becoming congested and buses commuting workers to and from town were adding to the traffic woes.
Similarly the town was looking tired with no new construction since completion of the Deloitte Tower in June 1999.
 NASFUND was presented with a dilemma: build in the CBD with the current mishmash of style and congestion problems or start a fresh on a new landscape.
 The choice if successfully implemented would change the focal point of Port Moresby for decades to come.
 NASFUND’s vision was based on the successful water side precincts of Melbourne’s Docklands and Yarra River arts precinct, known as Southbank.
As Joint CEO Rod Mitchell explains: “We wanted something that changed the perception of Port Moresby from being rather ‘hum drum’ to an emerging city with smart 21st century architecture.
“We wanted the latest in architectural design; we wanted clean lines and water frontage, effectively turning the town to face its greatest asset, the Harbour.
“The other dramatic statement is the first impression that visitors will get when they travel from the airport down the Poreporena highway into town.
“It’s the ‘wow factor’ when they drive over the hill and see the Harbour, yacht club and smart buildings hugging the waterway.”
NASFUND was also acutely aware in making the statement at Harbour City that it would pass the time test.
“It was important that the project created a standard that even in 50 years time, would be remarked on as a quality development,” Mr Mitchell said.
“Some have argued that the buildings should be taller.
“We rejected that view.
“This development is about scale, it’s about fitting in with the landscape.”
In just over two years that vision is proudly taking shape with the recent NASFUND-owned, ANZ building completed and two further buildings due to be completed over the next nine months.
The initial construction over the three sites will cost NASFUND approximately K115 million with a luxury 20 unit residential development to come on line in December and a 5, 400 square metre office complex to be completed in March 2010.
 Both constructions are fully pre let or under offer.
A close associate and fellow property developer, East New Britain Supermarkets Ltd, will soon be constructing a mix use commercial and residential development in the same precinct.
East New Britain Supermarkets Ltd also the own the current SVS Andersons Building in Harbour City which will undergo a refurbishment to meet the new standard that is being demanded.
 With these developments occurring and with the LNG Project across Fairfax directly facing the developments esplanade,  Harbour City is set to become the new hub of business and banking in the down town area in the not too distant future.
The ANZ Haus has become perhaps the most interesting and most talked about building in the country.
Strikingly different from the 1970-80’s style architecture that dominates the skyline, this building is truly international, reflecting the increasingly globalised community of which PNG is reaching out to.
ANZ Haus covers three floors with a total gross floor area of K4, 875 and with 77 car parks.
Adjoining the Royal Papua Yacht Club, ANZ Haus compliments the design rather than dominating the landscape.
 The new head office set back from the street without security fencing gives a very relaxed Melanesian feel that is often so at odds with the outsiders view of Port Moresby of high fencing and barb wire.
And this is what Harbour City is and will be about.
Taking back our streets and building a new city with not only a modern feel but with modern attitude.
 Ironically the modern feel still gravitates around the traditional with the commercial building named Ravalian Haus and the apartment s named ‘Sol Wara’.
  Discussions have been held with Curtain Brothers on changing the name of the street facing the new buildings to add to the PNG flavor.
The NASFUND developments could not have taken shape without three important ingredients tied by shared meaning and commitment:
•       The first was the decision by ANZ that they not only wanted to relocate but they wanted NASFUND as their partners in development. Much of this foresight rests with the outgoing Managing Director of ANZ, Mr. Gary Tunstall, who drove the ANZ side of the project;
•       Curtain Brothers who shared the dream with NASFUND of building a new, modern city on the edge of the old with a commitment to a quality outcome; and
•       The builders, Fletcher Morobe and the Brisbane architects Cottee Parker, who implicitly understood what NASFUND and Curtain brothers wanted from the development and delivered a first class project.
As the two other developments near completion, NASFUND along with joint venture partners are casting their eyes on the end site of Harbour City.
Located next to the current 20 unit complex under construction, is a plan for approximately a further 50 apartments taking shape with Curtain Brothers.
NASFUND says that this construction, still in the development phase will be different in style, with apartment balconies shaped like the front of boats facing the marina.
 The new development is aptly named “The Edge” – where land meets water.
“The idea at Harbour City is to create a portfolio of investment buildings that will be the signature of what NASFUND stands for - quality and modernism with a respect for tradition,” Mr Mitchell says.