Nambawan Super Limited (NSL) today announced that it has received a payment of K50 million from the State towards outstanding rental arrears for several properties occupied by various government agencies.

This payment marks a critical step toward addressing a debt that has remained outstanding for two (2) years. Following constructive dialogue, both parties, through the Department of Treasury, have agreed on a formal Memorandum of Agreement (MOA) outlining a structured payment plan.

Nambawan Super acknowledges and thanks the Government for its commitment to resolving this matter, as the receipt of these funds and the formalisation of a repayment schedule represent a positive shift toward financial accountability and the restoration of a stable landlord-tenant relationship.

NSL and the State reached an agreement that the outstanding balance would be repaid through monthly instalments of K10 million. Under this arrangement, K5 million per month will be allocated to clear arrears from previous years, while another K5 million will cover current rental obligations. NSL has agreed to this arrangement in good faith to support the State’s cash flow management.

NSL looks forward to receiving the signed Memorandum of Agreement, as this plan ensures a consistent schedule for the State to start settling the remaining balance of sixty-seven million-kina (K67mil) in full over twelve (12) months.

NSL remains committed to working collaboratively with the State to ensure that all financial obligations are met. Timely settlement of these arrears and consistency in future payments are crucial to maintaining the Fund’s income streams and ensuring that Members, many of whom are employees of the very State Departments occupying NSL’s buildings, receive appropriate returns on their investments.

NSL-owned properties currently occupied by State tenants include Revenue Haus (Internal Revenue Commission), Vulupindi Haus (Department of Education), Eda Tano Haus (Department of Lands and Physical Planning), AOPI Centre (Department of Health and Department of Higher Education), and NSL Haus in Lae (Ombudsman Commission, Independent Consumer and Competition Commission, and Auditor General’s Office).