Super Plaza opening soon with eye on LNG business

Business

THE Nambawan Super Plaza in Downtown, Port Moresby, will open in the coming months, says board chairman Anthony Smare.
“We are quite happy about the developments and expect to have it fully tenanted by the end of this year, with significant interest particularly with the second LNG coming along,” he said.
When complete, the plaza will consist of a word-class mixed-use office, residential, entertainment and retail complex with green areas for outdoor entertainment and recreation.
Nambawan Super also has a building project in Waigani, Port Moresby, called Range View. It is opposite Vision City Mega Mall on Waigani Drive.
Construction of the K296 million project was well underway and when completed it would consist of a shopping centre and apartments.
“Now the members have a choice on where to shop,” Smare said.
“That’s progressing really well.
“But then it leads us to another stage: how do we keep generating income?
“We are seriously looking at major investments in Lae and Mt Hagen in terms of what we can do as large-scale, commercial-retail type precincts that could further develop those places.
“We know there’s a lot of money in those places and it is important that our members see that there are assets out there near them that they can feel and touch.”
Housing for members is a big consideration.
“The big issue being raised by members around the country is home ownership for our people,” Smare said.
“How do we make sure more stock coming into the market is affordable? This is a very difficult issue for us.
“We have to balance out the needs of those who are in urban areas, where there might be a need, whereas those in the rural areas may not be able to invest in those products that will become available.”

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