National Capital District: Navigating New Opportunities

The landscape of the National Capital District in Papua New Guinea has shifted in the few years of development it has gone through. And it seems like surrounding areas are about to experience the same treatment while the government pushes for a more progressive and modern appeal.
Parceled-off land in the outskirts are being structured to accommodate more commercial and prime residential real estate developments. But in order to more efficiently utilize resources, the government will be looking towards every direction for potential issues and opportunities.

National-Capital-District

Image Source: indopacificimages.com

Reading the Compass

As developers close in on the National Capital District, the area’s developments continue to sprawl outward for its expansion. In Moresby East and West, hills have become construction grounds and the horizon has turned into a vision of what is to come.  Although arrangements have been put forward such as the lease-lease-back or build operate and transfer (BOT), the only problem that the National Capital District Commission is worried about are the customary lands that may serve as a roadblock for faster expansion of the city. Despite this, ongoing talks are being made with the customary landowners to streamline the process.

Meanwhile in the figurative south, Downtown Port Moresby has seen rapid expansion and growth in the past decade. The once drab and impoverished lands have been transformed into glass-laden structures with foundations of concrete and steel. Without sufficient buildable land, the previous years also saw a vertical expansion in the downtown area – especially in the shoreline.  This has paved the way for the Waterfront commercial zone. This is a major factor that is driving more investments into the capital.

Walking on Water

Right now, the multimillion Kina Koki Fish Market structure is suspended on steel struts above the sea as it awaits completion. It is an NCDC project that is aimed to provide long-term benefits to the economy and to the fishing communities of both Koki Point and the Vabukori villages.

The project will be constructed alongside a service station with amenities like docks for boats and toilets. This is going to be under a public private partnership with the Oil Search Limited company.

Pride of the Land

Construction will go full throttle as the government places particular importance on design. Another shoreline development that will be a testament to this is the upcoming APEC Haus that was launched by the Prime minister Peter O’Neill. It will lay host to the 2018 APEC Summit and will connected to Ela Beach through a land bridge.

The APEC Haus will be built on reclaimed land and will take the shape of a Lagatoi Sail that resembles the symbol used in the NCD and Central Province flags. The Lagatoi was an integral craft that was part of lives and culture of the people in the coastal Central area.

Similar to the Koki Fish Market, the APEC Haus will be built in partnership with the Oil Search Limited company as well using a National Executive Credit approved tax credit scheme. Once done, it is believed that The APEC Haus will be the Sydney Opera House of Papua New Guinea.”

With an increasing demand for new land to build on, the government is seeking to not only expand and discover new land but also to grow its economic competency. At this rate, we may see a whole new Papua New Guinea  few years from now.

Subscribe to our Newsletter to receive news and updates about New Developments, Free Land Titles News, Real Estate & Housing Demand trends and other programmes to help PNG home buyers!

Leave a Reply

Your email address will not be published. Required fields are marked *