Paga Hill Estate will transform this spectacular destination into a place for locals and visitors to live, work and leisure.
Paga Hill Estate presents a unique opportunity to invest in PNG’s first comprehensively planned mixed-use development. Paga Hill Estate epitomises the all important aspect of ‘location’, right in the heart of Port Moresby, representing sound investment opportunities both from a sales and a property portfolio management perspective.
Earning potential from rental income is guaranteed to provide both private and institutional investors with solid returns. Likewise, the current lack of quality residential property shows potential for attractive returns on property sales. Next to the clear commercial benefits for investors, the development of Paga Hill Estate represents an opportunity for Port Moresby, and the nation of Papua New Guinea in general.
City of Port Moresby
Rates & taxes – municipal revenue from both the development phase as well as the ongoing operations of the commercial and residential areas of Paga Hill Estate.
Tourism – with a dedicated world-class terminal that gives cruise liners reason to stop, tourism numbers and in-port spending will increase. With an on-site luxury hotel, cultural facility and restored World War II relics, the Estate offers locals and visitors the chance to appreciate the rich culture of PNG’s provinces, encouraging further travel to these less visited and outlying destinations.
A purposely built cruise liner terminal can conservatively be expected to attract around 75 cruise ships per year, with over 150,000 passengers visiting Port Moresby, leading to direct and indirect economic stimulus.
Additional hotel accommodation is expected to contribute to ease of hotel accommodation rates.
Housing and infrastructure – The ring road around Paga Hill is a much-needed piece of infrastructure that stands to relieve CBD-based traffic congestion. More importantly, the Estate’s apartment supply is critical in alleviating price levels for property sales and rentals accommodation market.
Economic stimulus – Paga Hill Estate will create meaningful job and business opportunities for generations of Papua New Guineans to come. Creating thousands of jobs, business opportunities and estate based services during its construction and ongoing operation.
Employment – Paga Hill Estate will offer local employment opportunities for Papua New Guineans to learn trades, skills and develop long-term careers.
Entertainment – with a variety of restaurants, cafés, a National Cultural Centre showcasing PNG’s rich cultural diversity, attractive public green space and public foreshore concourse, Paga Hill Estate will be a safe place for visitors and locals to relax and enjoy their leisure time.
Investment – PNG’s growing middle class will be able to improve their way of life through new business opportunities and property investment.