Nambawan Super Limited on Tuesday celebrated the opening of its significant property investment; the Moki Business Park, located at Waigani, Port Moresby.
The making of the project came with the support of Lamana Developments, Lamana Group of Companies, the Raitpla Property Team, Real Estate Agents, BSP Finance Group as well as the Moki Board Members.
This investment reaffirms Nambawan Super’s mandate to serve, protect, and grow its members’ retirement savings through returns from investments for all its members and with that, the Moki Business Park is also expected to generate long-term returns for all its members nationwide.
Chief Executive Officer of Nambawan Super, Paul Sayer, on behalf of Nambawan Super and its 228, 319 members, witnessed the official opening which he said is a significant addition to Nambawan Super’s building portfolio and property investment.
“At Nambawan Super, our company mission is: ‘To be recognised as the Superannuation provider of choice, with members at the heart of everything we do.’ ”
“We strive to continue delivering initiatives to improve our operational performance, our investment capabilities and most importantly, the quality of service provided to our members as well as supporting local growth.”
Nambawan Super has invested k130 million into the development of the four-story commercial building, further supporting employment and economic growth during its construction period.
He also expressed that this project will not only enhance their property portfolio but also contribute significantly to the local economy in which the fund had the courage to make this significant investment in the midst of Covid 19- at a time other refrained from taking the risk.
Moreover, whilst Nambawan Super remains cautiously optimistic, they also expect 2024 to be another challenging year for the Fund’s offshore and local investments.
Chairman of Nambawan Super, Reginald Monagi, stated that the Moki Business Park is expected to return a significant revenue stream once fully tenanted, and the money will then go directly to their members as part of their annual interest rate.
He expressed how grateful they were to celebrate another PNG-owned investment by members of Nambawan Super and Lamana Development Limited.
This investment he stated, demonstrates Papua New Guinean ingenuity, investment capability and commitment to delivering international standard projects that aim to further the country’s economic growth.
He added that as demonstrated by the construction of the new building, there exists a significant opportunity for investment returns for all its members when they have a clear land to develop and with that includes taking vacant possession of its land at 9-Mile Bush Wara.
“This Moki Business Park project including Nambawan Super’s development plans for 9-Mile, will benefit all its members around the country and with that, the Moki Business Park is an excellent example of one of the many ways Nambawan Super has been meeting its primary mandate and that is to grow its members’ retirement savings through returns from investments.”
Furthermore, Nambawan Super looks forward to the new and exciting revenue opportunity that the Moki Business Park will provide in contributing back to the members savings and to help them achieve their best retirement outcome.