Nasfund Archipelago takes shape

Captions: 1. Map of Nasfund Archipelago 2.  Artist’s impression of Harbour City

Nasfund’s bold commitment three years ago to shift the city focus to the water and to Harbour City is moving closer to reality with the announcement of 65 apartments to be constructed, starting March 2010.

Nasfund will own 60% of this venture.

The additional 65 apartments combined with the 20 apartments (Sol Wara) already under construction plus 9,000 sq m of office space signals a new concept for Port Moresby – living and working by the water.

“This major on-going project was the product of a well-considered plan to shift the Town towards the sea and capitalise on Fairfax Harbour,” according to Nasfund joint CEO Rod Mitchell.

“Similarly Harbour City and the surrounding precinct of Konedobu were ideal for development being two kilometers from the GPO and linked to the Poreporena freeway.

“Easy access without the congestion of town made this location extremely desirable.

“It also meant that the Town could be split with a new ‘City’ – totally without the constraints the ‘Old City’ had shackled itself to, including poor traffic flows and ‘hotch potch’ architecture.

“This however will soon change as Nasfund develops a commercial plan for the Burns Philp site and in doing so revitalise a significant part of the town centre.

“Across in Konedobu, with the soon to be completed IPA House covering 2,700 sq m and ‘the Factory’ – a seven pod commercial development covering 6,200 sq m, the Archipelago project will draw to a close as we begin plans for a further commercial splash in late 2010.”