In the male-dominated world of real estate in Papua New Guinea (PNG), an industrious woman entrepreneur is boldly carving her slice of success, challenging the norms, and rewriting her own story.
Samantha Ivankin has gone against all odds to build a thriving real estate business and in doing so leaves a trail of inspiration in her wake.
Established in 2019, Aria Lands & Property Consultants was born out of Samantha’s vision to meet the pressing needs of the real estate industry in PNG. With a strong commitment to providing affordable land and property valuations services, Samantha recognized the gap in the market and took the initiative to bridge it.
Operating from offices in Lae and Port Moresby, Aria Lands & Property Consultants has come a long way since its inception. A strong partnership with Kina Bank has been instrumental in their growth journey, allowing them to expand their reach and enhance their services.
Land and property valuation which is Samantha’s core business involves assessing the worth of real estate, considering factors like location, condition, and market trends. Valuation professionals use various methods, such as comparisons, cost, and income analysis, to determine property value accurately.
Working in a male-dominated industry has its unique set of challenges, but Samantha embraces them with grace and determination. She believes that understanding what her male and female colleagues are doing and excelling in those areas is key to gaining respect and recognition.
Samantha’s philosophy is clear: “Know your strengths and weaknesses, both personally and professionally, and constantly work on your strengths.” By setting high standards and demonstrating her proficiency, she has found that most of her counterparts are not just supportive but also eager to collaborate.
Investment prospects in PNG real estate sector are diverse, encompassing residential and commercial. However, the market grapples with infrastructure deficiencies, such as inadequate roads and utilities, which hinder property development.
Furthermore, the complexities of land ownership and customary land laws pose intricate challenges, necessitating careful consideration by potential investors seeking to capitalize on PNG’s real estate potential.
Aria Lands & Property Consultants primarily conducts its valuation business in Port Moresby, however she notes that the Lae market is gradually picking up.
“Lae market is quite static whereas Port Moresby is more fluid. It’s more a buyers’ market. Lae affordable housing projects will create a much-needed positive momentum in the Real Estate market. With Igam, Birdwing Homes, and likes of valley view 9 mile, we are expecting things to change soon in Lae” she notes.
Samantha’s advice for young entrepreneurs looking to make their mark in the business world is simple yet profound: “Know your industry well and just do it.”
