The requirement for commercial properties are projected to sustain particularly in Port Moresby and Lae. However, a critical issue that needs to be addressed to faciliate development is the shortage of land. 97% of the land area in the country is under customary tenure, where much of this is undocumented. On the other hand, urban land, where available, is locked up in government leases.
Despite these challenges, the real estate landscape is changing. Urbanisation, demographic shifts, land ownership, sustainability, and the shifting financial ecosystem will all have major implications for real estate investment and development. They’re likely to increase the size of the real estate asset pool, yet alter the nature of investment opportunities and risks. Real estate players need to make sure they’re fit for the future and success will depend on having global networks, specialist expertise and innovation, cost management and scale, as well as people that suit your strategic objectives.
PwC are market leaders in the real estate sector. We serve as auditors, tax and legal advisers, and financial and tax due diligence experts for the industry's key players. We have extensive experience in advising on transactions, fund IPOs, restructures and capital transactions. PwC works with a significant number of foreign investors, including pension funds, which invest in Papua New Guinea real estate.
PwC is the only professional services firm that offers a total service approach covering all disciplines. We can provide services on structuring, vehicle establishment, asset acquisitions, tax and legal services, and ongoing services. Additionally, our integrated real estate team can deliver a range of other services including debt and capital advisory services and valuation services.