The largest of the Pacific Island nations, Papua New Guinea (PNG) occupies the eastern half of New Guinea and hundreds of nearby islands. A mountainous and forested terrain has led to astonishing cultural and linguistic diversity, even as it inhibited development.
The year 2011 was a period of mixed fortunes for the construction industry. Although residential development was in strong demand – boosted by incentives such as government exemptions on property registration fees – construction work in other segments was less forthcoming. Government capital expenditures were restricted and banks remained risk-...
Government incentives on residential purchases helped the real estate sector make significant progress in 2011. According to the Department of Land and Surveys (DLS), it grew by 7.5% from JD5.98bn ($8.4bn) in 2010 to JD6.4bn ($9bn) in 2011. By contrast, real estate agents reported a difficult year for non-residential activity, as office space...
How have the regional unrest and the global economy affected the property development market?
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