Port Moresby still remains viable in the hospitality industry with prospects of further expansion by investors. This port and capital of Papua New Guinea so far has proved to be a hub for capital investment now well over K4.5 billion in hotel expansion. However the real challenges remain in the stiff competition that lies ahead […]
A novel Port Moresby is on the horizon with the construction of additional land mark buildings which will include commercial, residential and hospitality infrastructure, all this expected to be rolled out in readiness for the APEC Summit in 2018. Steady progress is being recorded at different stages of development as outlined below: a) APEC House […]
The real estate sector is slowly gaining momentum in Papua New Guinea where the demand for housing is becoming unsustainable. This current situation has resulted in the sky rocketing of rentals in real estate business, making it one of the viable sectors of the economy. This situation was mainly caused by the slow implementation of […]
Nort-East Member and Minister for Urbanisation and housing, John Kaupa, and his executive director, Max Keo visited a site behind ATS to meet with Moiha clan leaders to discuss the development of the area. Mr. Kaupa said that the Moiha landowners’ clan will receive maximum benefit for resettlement and development in their area. The Minister […]
After a period of slow economy and rising costs, Papua New Guinea is expecting exciting changes in the residential property market for next year boosting both rentals and sales. Direct support from the government through investments in housing and infrastructure developments as well as indirect support through state spending to boost economy growth, will probably […]
Real estate Industries Association (REIA) president Mike Quinn said that the real estate industry will continue to decline in the market after APEC in 2018. This is because the supply for houses is bigger than the demand. He said that Port Moresby enjoyed some stimulating progress to the economy with the PNG LNG project with […]
