The customary land ownership system in place since Papua New Guinea gained independence in 1975 could be about to undergo significant reform. Currently, most of PNG’s land belongs to its people, with the state owning the remaining 3%. Under customary tenure, ownership rights belong to an extended family group governed by traditional law. Very...
With only 3% of land available to the government to build on and develop, the real estate sector in Papua New Guinea operates in a unique environment. Despite the majority of land being under customary ownership, with ownership rights held by extended family groups, there are still a number of opportunities for foreign investors and...
More than a decade in the making, the construction phase of the Pacific Marine Industrial Zone (PMIZ) project in Madang Province now looks set to get under way in Papua New Guinea.
Building on the momentum generated by the successful launch of the Papua New Guinea Liquefied Natural Gas project, the government continues to take the lead in stimulating construction activity in PNG, with various opportunities across the board from ports and road projects to a range of residential and commercial developments open to both domestic and foreign companies for participation and...
Following successful completion of the Papua New Guinea liquefied natural gas project, the country is experiencing a surge of optimism about foreign investment and overall economic growth. PNG remains favoured by its traditional investors such as Australia, but it is increasingly a target for new players, including China and Japan.
Much like the construction industry, Papua New Guinea’s real estate sector has recorded strong growth in recent years as the nation rolled out its $19bn PNG liquefied natural gas (LNG) project. Rising inflation, as recorded in the country’s consumer price index (CPI) housing category, saw property prices and rental rates spike between 2008 and 2013. This trend continued...
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