By Meriba Tulo – EMTV News, Port Moresby
It was all smiles for Nambawan Super yesterday, as the super fund celebrated the completion of the Nambawan Super Plaza.
Located in Downtown Port Moresby, this new development – a partnership between Nambawan Super and Lamana Development, was completed on time and within cost.
For Nambawan Super, this is the first complete precinct development within the property space.
These serviced apartments, completed at a time when the economy is showing signs of improvement, especially with several major resource projects coming online in the next few months.
Projects which will create demand for quality accommodation in this part of the Central Business District – with both buildings expected to be completely tenanted by year’s end – and provide steady income for Nambawan Super, and ultimately, returns to contributors.
But apart from the monetary value of this investment, Nambawan Super has been quick to point out that this project has also provided much-needed employment within the property sector – with a majority of workers from this project to move across to the Super fund’s next big development – the Raintree Plaza in Waigani.
Contributors were given the honor of officially opening Nambawan Plaza.
For contributors like Chief Sargent Paul Unupite, this development represents yet another example of their fund’s efforts in creating long-term investment, which will bring benefits for many years to come.
Whilst this multi-million Kina development in Port Moresby represents a significant investment for the fund – the fund is also looking at expanding its investment portfolios in outside centres – particularly in Lae, Mount Hagen and Kokopo.