Papua New Guinea Construction Sector Research Highlights

Analysis

What is Papua New Guinea doing to reform land ownership?
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Accelerating land reform has been a key priority in enabling socio-economic progress in Papua New Guinea, and several development programmes have been put in place to this end. Since being elected in 2019, Prime Minister James Marape and his administration have placed a particular focus on mobilising large areas of customary land for development, while also emphasising the empowerment of customary…

Interview

Brian Hull, Executive Chairman, Century 21 Siule: Interview
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Interview:Brian Hull What has been the impact of government policies on the local real estate sector? BRIAN HULL: The first homeowner scheme, which has been handed over to Bank South Pacific, has had a significant effect on the real estate market. Under this scheme, people can apply for a loan of up to PGK400,000 ($118,000) at 4% interest for 40 years, with the borrower putting up 10% equity.…

Overview

What is driving construction activity in Papua New Guinea?
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Papua New Guinea’s construction sector is closely tied to its extractive industries. This is in part due to the substantial contribution of extractives to the country’s economy, accounting for around 28% of GDP in 2019. The performance of extractives also dictates access to foreign exchange (forex), with the segment representing roughly 94% of exports that same year. PNG’s construction…

Overview

How Papua New Guinea is working to bridge the housing gap
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Boosting the supply of affordable housing is central to efforts aimed at improving the lives of citizens in Papua New Guinea. Housing availability has become an increasingly pressing issue in recent years, especially as real estate prices for both renters and buyers have been driven up by the limited availability of land for development and the high cost of construction. The government of Prime…

Country Report

The Report: Papua New Guinea 2020
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The government of Papua New Guinea faces some challenges in 2020, with the electorate calling for improvements to social and economic infrastructure, and greater efforts to combat both real and perceived corruption. Despite these difficulties, PNG’s resource wealth and strategic location between the industrial centres of north-east Asia, the rising economies of the Association of South-east Asia

Chapter

The Report: Papua New Guinea 2020: Construction & Real Estate
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The government has demonstrated notable early enthusiasm to boost the ease and transparency of land ownership processes, which should stimulate activity in the construction sector. Recent years have seen the industry hindered by vulnerability to foreign currency shortages, limited availability of land for development, a lack of transparency and insufficient human capital. Ongoing efforts to improve…

Overview

Papua New Guinea's hospitality sector expanding to support growing tourism numbers
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Aided by easier and cheaper travel, global tourism has experienced two decades of almost uninterrupted growth. According to the World Bank, the number of international departures more than doubled between 1997 and 2017, from 687m to 1.57bn per annum. With the global middle class estimated by the US-based think tank Brookings Institution to be expanding by as many as 160m people per year until 2021,…

Overview

Affordable housing projects under way in Papua New Guinea, but broader efforts needed to stimulate market
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Although the completion of Papua New Guinea’s flagship liquefied natural gas (LNG) project, PNG LNG, in 2014 ended the boom witnessed in the real estate sector, the momentum provided by increased construction activity between 2008 and 2014 continues to support the market. The commercial real estate sector in the capital Port Moresby has undertaken some notable projects in recent years, including…

Analysis

New law grants on bidding for public construction contracts in Papua New Guinea
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In September 2018 the Parliament passed the National Procurement Act (NPA) 2018, which abolished the Central Supply and Tenders Board (CSTB) and replaced it with the new National Procurement Commission (NPC). The decision dissolved the public procurement framework previously set out in the Public Finances (Management) Act 1995. Under the new act all public procurement contracts with a value of over…

Analysis

Policies aim to formalise housing and improve quality of life in Papua New Guinea
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While some debate remains about what constitutes the middle class, largely because the average incomes and standards of living vary considerably in different parts of the world, experts are in agreement on some basic characteristics: in general, the middle class has more disposable income than the poor, which is defined by the World Bank as those living on less than a $1.90 a day. In most developing…

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Papua New Guinea Construction Sector Research Highlights

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