This chapter includes the following articles.
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 preparations for the 2015 Pacific Games and the APEC 2018 summit helping to maintain stability. Although the real estate industry is experiencing a downturn, a moderation of unsustainably high prices is expected to benefit long-term growth. Affordable housing also retains considerable potential for future expansion, and recent consumer sentiment surveys reveal pent-up demand for mid-market properties.
This chapter contains an interview with Jason Yip, Managing Director, DAC Real Estate.