PNG Capital Set for New BSP Headquarters

PNG’s capital is set to see a major new commercial development take shape, with Bank South Pacific moving ahead with plans for a purpose-built headquarters that will bring its Port Moresby workforce under one roof.

The bank expects the proposed campus to be ready in the early 2030s, replacing its current arrangement of seven separate office locations. Around 2,500 BSP employees currently work from those sites across the city.

 PNG Capital Set for New BSP Headquarters/image : Artistic expression of BSP Campus 

The proposed headquarters is being designed around the changing needs of the banking industry, with contemporary workspaces intended to encourage greater cooperation, innovation and business continuity.

The development will also have space for conferences, staff training and public events. BSP plans to use the facilities to continue community programs such as financial literacy and support for small businesses.

Employees will have access to a range of on-site services, including parking, dining facilities and health and fitness amenities. These are expected to include a medical centre, gym, changing facilities, showers and lockers.

BSP Group chief executive officer Mark Robinson said the investment was part of the bank’s long-term plans.

“Our plan for developing a new headquarters is about building for the future. It will provide a modern, efficient and resilient workplace that supports our people, our customers and our long-term growth ambitions,” Robinson said.

He said environmental considerations would form part of the design, while technology would be used to create a modern digital working environment.

Robinson said consolidating staff in one location would make BSP’s operations more efficient and provide a stronger workplace for its employees.

“It will provide a modern, efficient and resilient workplace that supports our people, our customers and our long-term growth ambitions,” he said.

BSP will also begin restructuring its existing property portfolio in the capital as work on the new headquarters progresses.

The first move will involve the sale and leaseback of the bank’s Waigani Head Office. Expressions of interest for the property will be advertised in newspapers this week.

BSP said detailed work on the new campus has not yet started, with feasibility studies and concept design expected to commence before the end of 2026. The process will also consider possible land sites and the planning and regulatory approvals required for the project.

“Importantly, it will bring our people together in a single location, improve operational efficiency and help us continue to attract, develop and retain exceptional talent,” said Robinson.