Prestige apartments: A world-class apartment complex, one step at a time
Geoff Kaka, owner of Prestige Apartments, really needed help to improve security through the installation of solar lighting to improve visibility at night and establishing a reliable water supply, with the additional benefit of reducing operational costs.
Glyn Joshua Manager Commercial Solomon Ports, left, and Geoffrey Kaka Managing Director Prestige Apartment at the forum.
Located in Honiara, Prestige Apartments comprises 20 units, each 2-4 bedrooms. Geoff aims to provide a home away from home environment for guests and to do that security is paramount. Before the pandemic, guests were primarily ex-pats and corporate personnel, most of whom were sent home until restrictions were lifted. There has been no government announcement about when that will be so, until that time, Geoff is not spending on marketing to attract new tenants.
Prestige Apartments
Following the riots in 2021, the Australian government provided additional police personnel to the Solomons, so the apartments have been fully occupied and staff recalled to service these guests.
Having been crippled by Covid-19 in terms of cash flow and revenue, when Geoff saw BLP’s presentation hosted on Zoom by the local Chamber of Commerce he knew he had to apply. He was motivated by the need to reduce water and electricity expenses and at the same time improve their environmental footprint.
We knew we had to be in to win – you’ll never get handed money like this if you don’t apply!” Taking his own advice, Geoff applied. Having an accountant and good business practices, he found the application process quite straightforward.
The grant has been received and the benefits are already very evident.
Geoff says, BLP’s funding enabled us to improve security on site in terms of water storage. Here in Honiara water supply often fails and we need to call a tanker. Now we have proper storage which gives us a window within which to fix water issues.”
Prestige Apartments lease apartments to international travellers and Geoff is very conscious that their business needs to be able to compete on that first-world international stage in terms of services provided and staff training. Having a reliable water supply and high-quality exterior security lighting is huge a step in the right direction.
ENDS
The Finance Facility enables access to capital for stabilisation, recovery and growth of viable but financially distressed businesses in the Pacific Islands due to the impact of COVID-19 on the regional economy.
The Facility opened applications to Business Adaptation Grants across eight Pacific Island countries in January and June 2021. Adaptation Grants have benefitted over 200 businesses to date, and Business Link Pacific is currently processing a similar number of grants to be disbursed before the end of the year.
To further support recovery and growth, Business Link Pacific is negotiating key partnerships with Financial Institutions to offer concessionary lending to small businesses in the region and will soon make information available on accessing those products. The Finance Facility also offers curated information about financial products for businesses on its free online tool, the Finance Finder; visit https://businesslinkpacific.com today to find out what is available to your business right now.