Super fund Nambawan Super has clarified that it has been taking a responsible approach in the last three months to find a win-win solution with the Department of Lands and the National Capital District Commission over its’ land asset in which a settlement has emerged.
Following the National Court order in November last year stating that land portion 2156, 2157 and 2159 belonged to Nambawan Super, the super fund had appointed a project manager who has since been engaging face to face with all the parties concerned.
In a media conference today, NSL Chairman Reg Monagi said NSL had proposed to NCDC for a land swap however no agreement has been reached as yet.
NSL has been making efforts in securing boundaries around the 197-hectare land and making awareness to the settlers on the status of the land as well as the progress of the arrangements underway.
The NSL board however has made its stance known that it is not obligated to wait for agreement from any other parties as the court had already ruled and they are progressing to take possession of the vacant land.
“The land belongs to the 200, 000 everyday Papua New Guineans who are members of the Nambawan Super and has significant value and forms part of their investment portfolio that NSL is committed to protect and grow for their future,” Mr Monagi said.
“The Fund does sympathise with those who have been defrauded by fake customary landowners, however it must act to protect the assets that are owned in trust for the more than 200, 000 members.”
The board made its intention known that the Fund’s goal is to develop the site to provide affordable housing through design, efficiency, scale and partnerships with key service providers and suppliers.
The 197-hectare land value stands at K100 million.