By DALE LUMA
NAMBAWAN Super Ltd (NSL) says it will not walk away from its 197 hectares of land valued at K100 million at 9-Mile’s Bush Wara community in Port Moresby because it belongs to its 200,000-plus members.
Following a court ruling in November last year recognising NSL as the land title holder, the fund is now in discussions with the National Capital District Commission (NCDC) to relocate the current settlers. Social mapping conducted on site has identified 920 developments onsite which included both permanent and semi-permanent structures.
Chairman Reg Monagi said the fund would also now set up an office onsite for the designated project management team for the land.
“The next step is for Nambawan Super and the project manager to go onsite and set up so that we can offer easy access to the squatters so that they can get firsthand information from the office there,” he said.
“At the same time the team would be pegging out the boundaries which they have already started so that we know where the demarcation line is for NSL land and other squatters that are on the land.
“That started this week and caused a commotion with the settlers who thought we had moved in to evict them, that wasn’t the case.
“So far we have been working with NCD and the squatters so that they know what Nambawan Super is going to do every step of the way.”
“We are in discussions with NCD for a possible land relocation.
“One of our previous options was for a land swap with NCD which must be of the same value or if not close but the discussions now is for possible relocations.”
Trustee director and project manager for the 9-Mile land Richard Sinamoi said the fund has three options on what to do with the land.
He said they could forgo their claim, sell the land or go ahead with their plan to develop a housing estate.
“What we want to do is take vacant possession of it so we can consider whether there is going to be affordable housing scheme that we can put on that 197 hectares,” he said. Chief investment officer David Kitchnoge said the land was valued at about K100 million which was 1.5 per cent of the total assets under the fund’s management.
He said walking away from an investment of that value was not an option for them.
By DALE LUMA