Rangeview (IFC-37478)

  • Papua New Guinea
Geographic location where the impacts of the investment may be experienced.
Specific Location
Waigani district of Port Moresby
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 30, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Constantinou Group
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Construction
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 6, 2017

Disclosed by Bank Sep 27, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
Lamana Development Limited (“LDL” or “the company”) is developing a new multi-purpose shopping / commercial and residential complex in Port Moresby, Papua New Guinea at Waigani (the “Project”). LDL is establishing a new greenfield company to implement the project. The Project company is acquiring the rights under a long term lease from NCDC to a 5.4 ha greenfield site, and plans to build and then lease a mixed use retail / commercial and residential development, to be branded as Rangeview. This will entail construction and operation of (i) a commercial and retail building (two/threestorey) with net lettable retail area of approximately 10,500 square meters, and (ii) 88 townhouse apartments (one/two-storey). Construction will be carried out by LDL as lead contractor, an experienced developer with a strong track-record of developing projects in PNG and other Pacific islands. Once complete, the Rangeview development is expected to be managed by a local property management company.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
The project sponsor is Lamana Development Limited, a local private property developer. Other shareholders in the project include Numbawan Super Fund (superannuation fund), and the National Capital District Commission (“NCDC”, the local government authority for Port Moresby).

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Lamana Development Limited Simon Brendling Business Development Manager +675 323 2333 simon@lamana.com.pg PO Box 495, Waigani, Port Moresby ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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How it works