Sunday, May 3, 2009

Papua New Guinea's building boom

Work continues on Rimbunan Hijau's Vision City WaiganiSteamships' property develoment in downtown Port Moresby
Nasfund's Vision City Port Moresby

Nambawan Super's commercial property development in downtown Port Moresby

Buildings are springing up everywhere in Port Moresby – and other cities in Papua New Guinea such as Lae - as demands for high quality accommodation, in anticipation of the country’s first liquefied natural gas (LNG) project, soar.
Many recently-completed high rise buildings have given the capital a new look, as if reaching out for the skies.
There is an ever-increasing need for accommodation and business space stimulated by a steady economic growth in the last four years.
The forecast boom is anticipated to involve major commercial and residential construction and is expected to continue for a number of years.
Building projects will comprise upmarket apartments and residential complexes, office and embassy refurbishments, as well as new schools and hotel renovations.
High security fence systems are also in big demand in Papua New Guinea.
In recognition of the growing building sector, this blog has been established to feature the country's property boom and showcase building, construction and hardware products from participating companies to key industry decision makers.
It will also feature real estate from around Papua New Guinea

2 comments:

  1. Result of sustained macro economic gains as well as political stabilty. Most important of all credit to Sir Makere Morata's financial reforms. PNG needs brains at the decision making level to effect changes. Need more systemic thinkers..not uneducated tribal war loads!

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  2. Correctly stated... The financial reforms have created a high liquidity state..The Exxon mobil project should give rise to a building explosion of a mega scale........

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