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There were 57 results found for Papua New Guinea and Real Estate

There were 57 results found.
Analysis

Demand grows for construction supplies produced in PNG
OBG
plus

In the absence of a well-developed local manufacturing base for building materials, Papua New Guinea’s construction sector has largely depended on imported materials over the years, which has translated into high costs and slow development. However, recent government policy changes geared towards reducing imports of capital goods and encouraging self-sufficiency could be a boon for domestic producers,…

Analysis

Construction projects in PNG increasingly being developed by Chinese firms
OBG
plus

China’s Belt and Road Initiative (BRI) is becoming one of the main drivers of construction activity in Papua New Guinea. Local media reported that China has overtaken Australia as the largest donor to the South Pacific region, pledging $4bn in 2017; however, the nation’s growing presence in the region has also raised some concerns. Mixed Benefits Although a number of large-scale infrastructure…

Analysis

Resource projects and large-scale events create demand in PNG real estate sector
OBG
plus

The property market in recent years has been heavily influenced by extractive projects and, more recently, Papua New Guinea’s hosting duties as chair of the APEC forum in 2018. These have created a serious gap in supply and demand, which has affected prices. PNG LNG Impact The project that had the biggest impact on the market was the $19bn ExxonMobil PNG LNG project, specifically the construction…

Overview

Land reform to expand access to the PNG real estate market
OBG
plus

Although a downturn in the commodity cycle, the end of construction on the Papua New Guinea liquefied natural gas (LNG) project and long-standing ambiguities over land rights have constrained development in the real estate sector, changes are afoot that could lead to significant improvements. About half a dozen major housing projects are now under way, and homes at reasonable prices are fast…

Interview

Matthew Lewis, Managing Director, Hornibrook NGI: Interview
OBG
plus

Interview: Matthew Lewis, Managing Director, Hornibrook NGI How would you characterise the outlook for Papua New Guinea’s construction sector in 2018? MATTHEW LEWIS: The year of 2017 was somewhat below average; the main challenge came from the shortage of foreign currency, which limited many companies from importing their materials from abroad. Events like the South Pacific Games drove growth for…

Interview

Graham Boddington, General Manager, Northbuild Construction: Interview
OBG
plus

Interview:Graham Boddington, General Manager, Northbuild Construction How attractive is Papua New Guinea’s construction sector to both local and international companies? GRAHAM BODDINGTON: In general, the business environment for construction-related projects cannot be described as attractive at this time. Over the last 12-18 months companies have had difficulty finding international joint-venture…

Chapter

The Report: Papua New Guinea 2018: Construction & Real Estate
OBG
plus

While resources-related projects will always be the engine of the sector, the rising number of residential, hotel, retail, transportation and office developments are becoming increasingly important, as the country’s hosting of APEC in 2018 and the expanding middle class continue to shift Papua New Guinea’s construction priorities. Although a downturn in the commodity cycle, the end of construction…

Country Report

The Report: Papua New Guinea 2018
OBG
plus

Papua New Guinea has remained resilient in the wake of a host of domestic and external challenges, and while growth has slowed since construction of PNG LNG ended, ongoing fiscal, structural and policy reforms should support domestic non-oil economic growth in 2018. PNG’s international profile received a boost when it was selected to host APEC 2018. Although the budgetary burden of APEC could be

Chapter

The Report: Papua New Guinea 2017: Construction & Real Estate
OBG
plus

Although it recorded double-digit expansion during the boom years of 2010 to 2013, Papua New Guinea’s construction industry faces a challenging operating environment in 2017. Growth contracted in 2014 following the completion of a major liquefied natural gas project, and contractors have since struggled to regain the momentum seen earlier in the decade. The sector rebounded in 2015 and 2016, with…

Overview

Public spending cuts in PNG make private participation crucial
OBG
plus

Although it recorded double-digit expansion during the boom years of 2010 to 2013, Papua New Guinea’s construction industry faces a challenging operating environment in 2017. Growth contracted in 2014 following the completion of a major liquefied natural gas (LNG) project, and contractors have since struggled to regain the momentum of earlier in the decade. The sector rebounded in 2015 and…

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