CB PROPERTY
CB Property developments include Harbour City, The Peninsula, Motukea Island and Motukea North.
Harbour City comprises 16 hectares of reclaimed land, situated in the heart of Downtown Port Moresby where Commercial and Residential precincts have been established within a secure and well serviced location.
The Peninsula at Harbour City includes 130 residential townhouses and apartments.
Motukea Island and Motukea North are located 12 kilometres from Port Moresby in the North West LNG plant growth corridor includes industrial properties and support facilities. Both locations include areas available for new Industrial and commercial uses adjacent to the new Port Moresby main Port and close to the PNG LNG plant.
SERVICES
Property Development
Build-to-Rent
Build-to-Sell
Property Management
DEVELOPMENTS
HARBOUR CITY – The Peninsula Residential Development
Harbour City is well located on the shores of Fairfax harbour, Port Moresby. It adjoins the Royal Papuan Yacht Club, is surrounded by Restaurants, Cafes and a mixture of Retail outlets. Harbour City is home to a number of businesses, located in several Commercial buildings, including Embassies, Banks and large International Corporations.
Harbour City Developments Limited was established to build a precinct, comprising a mixed-use Development, to include both Commercial and Residential Buildings.
As Developers, Harbour City Developments Limited (HCDL) first commenced construction in 2006 with a 3-level commercial office building which was and still remains the Head Office for the Australian New Zealand Banking Corporation (ANZ Bank).
Once completed this was followed by the construction of:
2009: Ravalien Haus: 3 storey office block, tenanted by Bank of South Pacific and InterOil
2010 Solwara: Residential Building comprising 20, two and three bedroom apartments
2012 The Edge: Residential Building comprising 63 Apartments, Café, Gymnasium and Recreational facilities
2014: BSP Haus Commercial Office of seven stories, tenanted by The European Union, Mining, Legal firms and Nasfund, the country’s second largest Superannuation Fund
2015: Car Park Five storey multi level carparking building for 600 vehicles
2016: PWC Haus Seven storey Commercial office Building built as head office for both
PricewaterhouseCoopers (PWC) and PUMA Oil
Commencing in 2010 and in conjunction with the projects above, construction continued within Harbour City and a new project commenced in an area to become known as The Peninsula.
Built on over 4 hectares The Peninsula comprises 20 Townhouses (condos) built as five standalone buildings each containing four Townhouses.
In addition, there are a further three, five story buildings each containing 20, two- and three-bedroom apartments. Included in this mix are four Penthouses which span the top floor of two of these buildings.
Construction started in June 2018 on a fourth building to provide a further 38 one, two and three bedroom apartments.
To compliment this project and for the comfort and enjoyment for owners and tenants, the community has incorporated a number of facilities including:
- Children’s swimming pool, BBQ
- Children’s playground
- Adults only Swimming and Lap Pool, BBQ and relaxing area
- 2 Tennis Courts
- Gymnasium
- Basketball shoot area
- 2 kilometre walking track
- Residents only Club house
- 2 squash courts, library and recreation room (due for construction 2019)
In Papua New Guinea, as elsewhere the need for secure residential accommodation is important for employees and families. The Peninsula has been developed as a niche market and has attracted a small but select tenant base, exceling in meeting the requirements of its diplomatic clientele.
Papua New Guinea has a large international workforce, which provides a high demand for residential rental property. Whilst each of the buildings have been constructed in such a way to provide individual title to prospective owners, the continuing demand for rental accommodation provides an attractive income stream for the Developers (HCDL).
The Peninsula, since it was first constructed has enjoyed a zero-vacancy rate.
The Peninsula is being built alongside the new American Embassy (to be completed in 2022), and together both projects provide an extremely safe and secure environment.
Harbour City is a carefully planned community and is being built over a number of years. Given the environment in which we live and work (both politically and economically) we are conscious of our market and whilst there is a continuing need for safe and secure accommodation, there is also a requirement to undertake such a Development carefully. Each building takes approximately two years to complete and it is only when we are well advanced with the current build will we consider our next project whether it be Residential, Commercial or Retail.
MOTUKEA ISLAND & MOTUKEA NORTH
The CB Motukea development includes 80 hectares of industrial property and support facilities. Facilities and infrastructure includes vessel berthing, break bulk and container cargo stevedoring, plant & equipment workshops, storage sheds and laydown areas, offices and residential accommodation with recreation facilities and mess. Motukea island infrastructure includes four MW of backup power.
Motukea Island and Motukea North are located 12 kilometres from Port Moresby in the North West, LNG plant growth corridor. This growth corridor is rapidly developing to support the LNG industry including the planned major expansion of the PNG LNG plant and future associated petrochemical and energy developments.
The corridor is well serviced with new direct transport connections to the relocated Port Moresby Port, which is located on Motukea Island, Port Moresby International Airport and with the commercial centres of Port Moresby. NiuPower’s newly completed 55 MW gas power plant located in the corridor provides reliable power to Motukea.
Both Motukea Island and Motukea North include areas available for lease and sale to suit new Industrial and commercial uses.
