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...
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...
The economic downturn resulting from lower global commodity prices and the completion of the PNG LNG project means the future of Papua New Guinea must be navigated with care. The country possesses plentiful natural resources, which, given effective management, could provide new revenue to spur diversification, as well as sustainable and equitable growth in all provinces.
Since the country embarked on an ambitious IMFbacked economic reform programme in November 2016 the government has placed a strong emphasis on infrastructure and construction as a key engine of urban growth and financial stability. In the FY 2019/20 budget LE140bn ($8.6bn) was earmarked to obtain new resources, develop infrastructure, and...
The outbreak of Covid-19 in early 2020 brought disruption to all sectors of the economy, and the real estate market was no exception. While the full impact of the pandemic remains to be seen, the real estate sector is likely to experience difficulties in the shorter term as state funds are redirected to tackling the crisis. However, the...
How are the development of new cities and demographic changes reshaping market demand and impacting real estate in existing cities?
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×