PORT MORESBY PUSHES BOUNDARIES
Port Moresby, the capital city of Papua New Guinea, is pushing boundaries to become a regional hub for tourism and investment.
In line with the municipal government’s vision, a private-public partnership has enabled the constructions of six new skyscrapers in the country’s capital city, are game changers. They are adding new character, vitality, landscape and skyline to the capital city.
Like any other developing countries globally, lawlessness is still a challenge. However, budgetary appropriation of K380 million (US$ 110.2 million)-to the country’s police force by the Marape-led Government for general duty policing and community policing sounds promising. It is an indication the Government is serious in addressing police capacity issues to solve the problem.
Investment in Port Moresby by Private sector: Range View Precinct Mall
All these property developments are from the private sector. However, the PNG’s superannuation giant Nambawan Super Limited’s (NSL) commercial and residential project which is a tripartite investment. That is by the National Capital District Commission, Lamana Development Limited and NSL.
The Lamana Development Limited is constructing the Range View Precinct opposite the famous Vision City Mega Mall. The investment is at the cost of K296 million.
It is providing 500 jobs at the construction phase and 150 permanent jobs after its completion in December 2020.
NSL chairman Anthony Smare said: “The investment highlighted what can be achieved when public landowners such as NCDC work with the Nation’s largest investor Nambawan Super to drive development.
“I congratulate Governor Powes Parkop on his leadership and vision in embracing this opportunity to partner with Nambawan Super in this development. This public private partnership will benefit the residents of the city through long term recurring revenue for NCDC to support its services and provides another major retail and commercial hub for residents to shop at. It will also generate long-term return for Nambawan’s members.”
CHINA TOWN DEVELOPMENT IN PORT MORESBY
At 5-mile adjacent to the Jack Pidik Park, the K200 million Chinatown has begun its construction and when completed, it will feature shopping mall, restaurants, cinemas, offices and apartments.
Along the Independence Drive, 8-storey Office Building and Commercial Development is taking shape. West New Britain Haus is taking shape and the multi-million Kina worth National and Supreme Court Complex is nearing completion.
Along the Sir John Guise Drive opposite the Japanese Embassy, a twin tower office building is being built.
The Mega Mall also plans to develop two more phases of the Vision City Development with office and residential apartments all interlinked to the mall.
Further, the United Nations Organisation is also planning to build its permanent Office along the Sir John Guise Drive.
These investments are speaking volumes that the city is safe and next frontier for business and tourism. Political Stability in the city has enabled the investments by the private sector.
These investments-at a tune of over a billion Kina-which will provide more opportunities for business and retailers, income earning opportunities and jobs for the residents in the city.
Welcoming the investments, Governor Parkop said he envisaged that the city should become the regional hub for tourism, business and investment. He added these developments are part of this journey.
Governor Parkop is pitching for the city to become a regional hub.
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