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Business |
Building boom in Lae
Big and small
projects are rising all over the city
By JASON SOM KAUT
A CONSTRUCTION boom is taking place in Lae as shown by new
buildings rising up, old ones being demolished and others
undergoing renovation.
A check by The National with some of the stakeholders in the
building industry including designers, architects, builders and
real estate companies revealed that most are being kept busy with
the increasing physical works. Design Scope Architects, NGI Steel,
Rams Architects, Niugini Builders, Professionals and Huon Real
Estate, including the Lae City Authority’s building section are
some which have confirmed the increasing activity in the local
construction industry.
Lae chamber of commerce president Alan McLay recently said the
current physical development “reflects a healthy sign of growth
and investment in the economy”.
John Ronnie of Design Scope Architects confirmed a busy schedule
of projects for this year, saying Lae will change “drastically”
between this year and the next year.
NGI Steel Building division manager Brett Lewis shared the same
sentiments, saying: “There is a significant boom in the
construction industry … with more money available through aid
projects, private sector and to a lesser extent Government.”
Work is continuing on a warehouse project belonging to Nasfund
located along Josey street, which the fund plans to rent out.
Work is also underway on a small scale-mining training centre in
Wau which should enhance small-scale mining activities.
NGI Steel had recently completed a multi-million kina commercial
warehouse at the Lae main wharf for Steamships property that saw
most of units being sub-leased already.
Gilmore Gabori, quantity estimator with Niugini Building Supplies,
said the
increasing trend for them is building of residential houses as
more employers focus on providing housing for their employees.
The company is currently building a new warehouse and carrying out
other works on their leased portion of land behind the Dunlop
market office.
Real estate firm Professionals confirmed it was experiencing an
upward trend in the industry that began two years ago.
“Commercial banks’ gradual reduction of interest rates is seeing
an increase among borrowers more and placing more demand on
property.
“However, however, there is a major shortage of land for
buildings,” the company said.
 
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