16 May 2008

Approval given for PNG's biggest ever commercial property development

6:39 am on 16 May 2008

The Papua New Guinea arm of the Rimbunan Hijau Group has been given approval to start construction of a vast complex that the company says will represent a city within a city in Port Moresby.

The National newspaper reports that the proposed multi-user complex, named Vision City, is the most ambitious commercial property development ever undertaken in PNG, at an estimated cost of 380 million US dollars.

Vision City will be located on a 9.2 hectare site on Waigani Drive.

It will incorporate a three-storey megamall, a 12-storey hotel with more than 290 rooms, a twin-tower office block, a convention centre and about 120 serviced apartments.

The project is expected to take between seven and 10 years to complete and will create about 1,800 jobs at the peak of construction.