In the aftermath of the 2024 earthquake that severely damaged buildings across Port Vila, some affected businesses are committed to rebuilding, while others have opted to sell their properties.

Among those choosing to rebuild is Au Bon Marche (ABM), one of Vanuatu’s largest retail chains. ABM’s Down Town branch, which was badly damaged and later demolished, will be reconstructed, according to Director Andrew Leong.

“As we all know, seaview is damaged, Chills restaurant is damaged, and so was our Down Town branch,” Mr Leong said. “But assessments have been done, demolition has started, and we’re planning to rebuild something even better to continue serving Port Vila.”

ABM is one of over 10 buildings that were brought down due to safety concerns following the earthquake. Meanwhile, the leases previously occupied by the Olympic Hotel and Lolam House are now up for sale, according to real estate company IPROPERTY.

Scott Young of IPROPERTY confirmed that these sites are on the market. He added that “regulatory or contractual requirement for (re)development” is one main factor that may force owners to sell rather than rebuild.

A report from the Vanuatu Chamber of Commerce estimates that over 900 people lost their jobs due to the damage caused by the earthquake. However, Mr. Leong said ABM retained all its employees despite the closure of its Down Town and Central branches.

“We’ve reassigned staff across our other branches. We didn’t let anyone go, and I appreciate our staff for their continued efforts,” he said.

Mr. Leong also emphasized the importance of learning from the disaster. “We never expected an earthquake like this. Now we know we must work with experienced engineers, especially when building on reclaimed land near the sea.”

As recovery efforts continue, the choices made by companies will shape the future of Port Vila’s central business district.