29 July 2016

IRIS Land (PNG) Ltd New KOTO Home Design at Reactivation of PNG's Government's First Ownership Home

Port Moresby, PNG, 29 July 2016 – IRIS Land (PNG) Ltd, IRIS Corporation Berhad’s property development arm for Oceania has unveiled its latest double storey Paradise Begonia design at the handover ceremony in Tokarara, which reactivated PNG Government’s First Home Ownership Scheme (FHOS) today.

The featured home is built completely using IRIS KOTO Industrialised Building System (IBS) which is an energy-efficient, labour-saving, light-weight and rapid building innovation from Malaysia. IRIS KOTO IBS is transforming the way people live and also changing the way homes are designed and constructed in its home country and also across the globe.

The reactivation event for PNG’s First Home Ownership Scheme (FHOS) was officiated by Finance Secretary Dr. Ken Ngangan. For Deputy Secretary of Operations in the Department of Finance, Stephen Nukuitu, who joins other public servants benefitting from the FHOS project worth K200 million, it was truly life changing to be able to own his first home and to share it with his family.

Stephen’s home is the first of four new homes to be constructed on land allocated by the Government for eligible staff of the Finance Department. PNG’s FHOS is a housing loan scheme organised by PNG Finance and Treasury Department and PNG National Planning Department, and facilitated by the Bank of South Pacific (BSP). IRIS Land (PNG) Ltd is a preferred, certified contractor, registered with BSP.