The iconic ‘Pacific Place’ building in Downtown, Port Moresby has now been renamed to ‘MRDC Haus’.

The prime commercial building stands tall and proud in the Central Business District (CBD) as a testament of how the Mineral Resources Development Company (MRDC) is redefining Landowner wealth through investments outside of the oil, gas and mining industries.

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).

MRDC Managing Director officially announced the renaming to MRDC Haus, on the 8th of February in a small ceremony at the foyer of the building attended by landowner directors, tenants and management and staff of MRDC and PPT.

The announcement coincided with the reopening of the foyer of the building to mark the completion of the first stage of major upgrade work carried out on the building for the past 12 months.

MRDC Managing Director Augustine Mano said the building was 25 years old, and since taking over the trusteeship of the Pacific Property Trust (PPT) in 2014, MRDC has spent close to K32 million to carry out renovations as part of a modernisation plan for the then Pacific Place and Pacific MMI Building which is also managed by PPT.

Mano said PPT was bought at a cost of K70 million.

“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 Mr. Mano.

Upgrades to the MRDC Haus includes a brand new foyer area which features a reception area manned by PPT staff to assist visitors. Security and access to the building was an important aspect of the upgrade program which will now see 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.

“CCTV’s have been installed in and around the premises, especially in the car park, foyer and lifts,” added Mano.

Mr. Peter Boru, Government Affairs Manager Asia Oil & Gas located on level ten commended MRDC’s efforts in modernising the building.

“I think it really improved, it’s good we have landowners companies and a nationally owned company running the whole show. This building has been here for a very long time and now to be upgraded to meet the standards of the 21st Century, I think is very good,” said Boru.

The building’s longest serving tenants ‘Leahy Lewin Lowing Sullivan Lawyers’ Partner Stephen Lewin was very happy with the upgrades.

“The building has had a huge improvement since MRDC took over. We are happy with the changes and have extended our lease for another three years”, said Mr Lewin.

MRDC Haus will also have a restaurant on the first floor which is expected to open in March.

“A restaurant on level one is a great addition to tenancy, I can’t wait’’ said Mr. Arthur Sam Partner from level two tenants Samkiaktubangliu Accountants.

“We meet a lot of clients in coffee shops. This so when they come in, I’ll just say let’s meet at the coffee shop downstairs” said Sam. Stage two of renovation is currently in order with the upgrade of the lift and the construction of the restaurant in level one.