‘Pacific Place’ building in Downtown, Port Moresby, has now been renamed ‘MRDC Haus’.
The renaming was officially announced early this month in a small ceremony attended by landowner directors, tenants and management and staff of Mineral Resource Development Company (MRDC) and Pacific Property Trust (PPT).
MRDC managing director, Augustine Mano, said the building was 25 years old and since taking over the trusteeship of PPT at a cost of K70 million in 2014, MRDC has spent close to K32 million to carry out renovations as part of a modernisation plan.
“When we took over, it was not easy. There were so many challenges and issues we adopted but I am happy to say we have overcome those challenges to bring the building back to its former glory days, but this time as MRDC Haus,” said an elated Mano.
The prime commercial building is regarded as a testament of how the Mineral Resource Development Company (MRDC) is redefining landowner wealth through investments outside of the oil, gas and mining industries.
Upgrades to the MRDC Haus include a brand new foyer area and an access card only system used through the reception and the lifts to each floor.
MRDC Haus will also be one of the safest building in Port Moresby where it will be monitored by the management to ensure the safety of the tenants and the general public.
“CCTVs have been installed in and around the premises, especially in the car park, foyer and lifts,” added Mano.
MRDC Haus is managed by Pacific Property Trust (PPT), which is owned by landowners from the Kutubu oil project through Petroleum Resources Kutubu (PRK), Petroleum Resources Moran (PRM), Petroleum Resources Gobe (PRG) and Ok Tedi Mine through Mineral Resources Star Mountains (MRSM) and Mineral Resources Ok Tedi Limited (MROT).