The construction boom from the Papua New Guinea liquefied natural gas project may be slowing after years of fast growth, but the sector is still in the midst of expansion, led by infrastructure projects ahead of the 2015 Pacific Games. An opportunity to showcase the country’s rapid development and natural beauty, the games prompted major upgrades to stadia and transport...
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...
The residential real estate sector has soared in recent years, as the government wrapped up construction on the $19bn PNG liquefied natural gas (LNG) project in Port Moresby. With rents and home prices showing a sharp increase, there is a growing concern that home ownership remains out of reach for the average citizen. If the strong GDP growth projections for 2015 are...
Although Papua New Guinea’s construction sector contracted in 2014 after a four-year boom from the massive PNG liquefied natural gas (LNG) project, industry growth is expected to pick up again in 2015. New petroleum revenues are set to support the government’s sizeable infrastructure investment programme, which will see major improvements to roads, ports and airports,...
First-time and low-income homebuyers in Papua New Guinea face significant obstacles to property market entrance. A five-year construction boom due to the recently completed PNG liquefied natural gas (LNG) project placed upward pressure on inflation, rents and property prices, while the nation remains one of the poorest in the Pacific, putting homeownership out of reach...
While the construction sector in Gabon has seen a slowdown compared to the boom in the years prior to co-hosting the 2012 Africa Cup of Nations (Coupe d’Afrique des Nations, CAN), construction remains central to the state’s economic development plans. As part of an overarching goal to diversify the economy through the Emerging Gabon strategy,...
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