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...
Construction
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Articles & Analysis | Policies aim to formalise housing and improve quality of life in Papua New Guinea from The Report: Papua New Guinea 2019
Interviews & Viewpoints | Ken Richardson, General Manager, Strickland Real Estate: Interview from The Report: Papua New Guinea 2019
What impact do fluctuations in global commodity prices have on the Port Moresby real estate market?
Articles & Analysis | Affordable housing projects under way in Papua New Guinea, but broader efforts needed to stimulate market from The Report: Papua New Guinea 2019
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...
Chapter | Construction & Real Estate from The Report: Papua New Guinea 2019
Papua New Guinea’s hosting of the 2018 APEC Leaders’ Summit proved to be something of a catalyst for the construction sector. Although the authorities had to mitigate the shortage of high-end hotels in the capital city by hiring cruise liners to accommodate international delegates attending the event, a host of construction projects were launched to meet the other infrastructure needs of the...
Efforts to improve public governance are gradually bolstering confidence in Papua New Guinea’s economy, despite national performance being heavily dependent on the extractive industries. Backed by macroeconomic development plans, Prime Minister James Marape’s administration is seeking to improve debt management, reduce foreign exchange imbalances, widen access to social services and provide greater employment opportunities.
