A major Chinese property developer, the R&F Group had now set up its Papua New Guinea office in Port Moresby following the visit by their Group Chairman and President, Mr. Li Zhang last month.
The R&F Group owned over 80 luxury hotels managed by renowned international hospitality groups including the Ritz Carlton, Park Hyatt and Grand Hyatt. Its investment portfolio comprised hotels, shopping malls, and office buildings. To date, the Group had expanded into over 145 cities and regions worldwide, delivering more than 450 projects. They had also diversified into mining over the past decade.
The newly appointed PNG Country CEO, Mr. Clarence Sun said the R&F Group was very keen on investing in PNG, especially in property and real estate, housing, and in the mining sector. He confirmed that ten staff would soon be joining him to start their company operations in PNG.
The Minister for International Trade and Investment, Hon. Richard Maru said he was very excited that one of China’s most influential companies and biggest owner and developer in the hospitality and tourism sector had set up a country office in PNG and was keen on investing in the country.
“I want to thank the Prime Minister, Minister for Foreign Affairs, Governor for NCD, Secretary for Department of International Trade and Investment, the PNG Ambassador to
China, and everyone who worked behind the scenes for their support in securing the firm decision of the R&F Group to invest in a very big way in our country,” said Minister Maru.
“We welcome the R&F Group and their investment plans in PNG which will result in significant foreign direct investment inflows and creation of thousands of new jobs in PNG,” he added.