Port Moresby has made great development in various aspects as a result of the economic boom in the country.
Jinyn Development LTD a well-known Chinese company is building a multi-billion kina apartment at Badili alongside 2 Mile Hill.
Jinyn Development LTD is specialised in construction and mining. This is its first investment in PNG.
They are going to build 13 new apartments – Seaview International Garden, which will occupy 122 units ranging from 2 to 5 bedrooms.
The project is worth K1.4 billion and is contracted to the China Railroad Construction Group to develop it.
They held an open day sale over the weekend at the ANG Building in Downtown for interested buyers to subscribe and negotiate prices.
Jinyn Development Financial Manager, Rick Li, said this is their first and biggest project in the country.
He said Badili was a good location as it was in the centre of the City.
So far 8 units have been sold, 3 have handed in their cheques.
The project is expected to be completed in late 2015. The company will also be looking for opportunities in other centres of the country.
The prices of apartments are ranging from K1.7 million to K4 million depending on its type.
The apartments are of high class with sea view and state of the art facilities like swimming pool, children’s play area, gym, in house supermarket and their useful facilities.