Papua New Guinea conglomerate, Steamships Trading Company, recently took possession of a 38-hectare site with direct access to Port Moresby’s Motukea International Port. The site will be developed and operated as Portside Business Park by Steamships’ property division, Pacific Palms Property. The mixed-use development will have three core zones: an Industrial Zone with wharf and open-yard storage; a Light Industrial Zone, and a Commercial Zone featuring retail, primary healthcare, and a business hotel. It is anticipated that total investment will exceed one billion Kina (approximately US$272 million). Steamships envisions the precinct as a future industrial and commercial hub for Port Moresby and is working with government agencies to have Portside Business Park designated a Special Economic Zone.
