By DALE LUMA
NAMBAWAN Super Ltd (NSL) will move all its operations in Port Moresby to its new Waigani office complex once completed, according to the fund.
This follows a ground breaking ceremony yesterday at the Moki site at Kumul Avenue in Waigani yesterday.
The twin tower four-storey building will cost more than K100 million and is a joint venture between shareholders Lamana, NSL and Bank South Pacific Financial Group Ltd (BSP).
NSL chairman Reginald Monagi said the fund would move its head office to the new Waigani office complex to provide Nambawan Super members in Port Moresby a central hub for all member services.
“The development is planned to comprise of two new four-level office buildings with a total leasing space of 10,656 square metres, a separate warehouse (archive facility), and ample secure visitor car parking,” he said.
“NSL plans to use the ground floor and two additional floors of one of the buildings to serve as the new NSL head office.
“The move to Waigani will enable the fund to be closer to where a majority of our members are so we can serve them better.
“Once completed, the strategically located complex will be a one-stop-shop for all member needs including benefit lodgments, member ID card collection and renewal, member financial literacy training and other non-member facing functions.”
NSL is also in discussions with a number of organisations, including Government statutory agencies, to take up tenancy in the second building of the planned complex.
“The strategic location of the Waigani area and the design features of the building would be a very good suit for statutory organisations and their partners who would like to create a central hub for their stakeholders,” Monagi said.
“Waigani has developed into a thriving business district and NSL is capitalising on this to provide better access to member services and ensure the best possible return on investment for our members.”
Monagi said NSL expected that the K100 million-plus investment would provide a consistent source of returns for members in the future while also providing a much-needed economic boost and jobs for Papua New Guineans during the construction phase.
He said the fund would continue to work with joint venture partner Lamana Development Ltd on the construction of the new complex.
By DALE LUMA