Editorial
The National
PORT MORESBY, Papua New Guinea (June 2, 2009) Â PNG has seen an upturn in construction work, particularly in the building industry.
Demand in this sector has always been high but supply has been low, thereby driving rentals through the roof.
This has driven senior managers to take up residence in settlements, particularly those whose employment contracts did not include hefty accommodation allowances.
In recent years, however, that groundswell of demand combined with lower interest rates, political stability and strong economic growth have caused a sharp increase in construction activity.
This has been evident in mostly the main centres of PNG, principally Port Moresby and Lae.
An industry link on the internet states: "Remarkably, this growth has occurred in spite of two significant limiting factors. First, there is a shortage of capacity in the sector. Second, there is a growing need for available secured...