Demand for commercial properties high

DEMAND for commercial properties in Port Moresby is quite high, according to DAC Real Estate property manager Michaella Otto.
Otto (pictured) told The National that this was due mainly to the increase in small businesses needing somewhere to operate from.
“Demand for commercial properties is quite high as most customers are looking for areas to set up their small business,” Otto said.
“But this depends on the locality.”
Otto said the demand was high in the central business district.
DAC owns the Waigani Retail Complex, which provided office spaces for business with the largest used by the Woman in Business.
“There are 26 shops in the area,” she said.
“The largest space area is occupied by Women in Business who sells a variety of products.
“Smaller shops are used for different purposes ranging from salon, barber shops, second-hand clothing, printing services, phone shop, kaibar and gaming area.
“There are two corridors that link the smaller shops to the Women in Business stalls.”
Otto said the complex aimed to provide a centralised base for small businesses.
The complex is under renovations.
“Once all renovations by the tenants are completed with shops ready, we will market the complex by putting up signs and improving property frontage to attract customers so it can be just like other malls in the city.”