MRDC’s investment hits K6bil with K26.5mil Gobe Haus

By GLORIA BAUAI
THE Gobe Haus, a K26.5 million investment by Mineral Resources Development Company (MRDC), opened in Lae yesterday, bringing its investment in PNG and the Pacific to K6bil.
MRDC board chairman Isaac Lupari said the three-storey office building in Top Town was MRDC’s most recent property redevelopment in the country, bringing the company’s total assets in PNG and the Pacific to K6billion.
He said Gobe Haus was the first investment in Morobe, previously known as the ANZ Bank building, owned by the Pacific Property Trust and managed by the Melanesian Trustee Services Limited (MTSL) then transferred to MRDC in 2014.
Deputy Prime Minister Sam Basil thanked MRDC for redeveloping what he described as “an eye sore in the heart of Lae city” when the iconic building then, was destroyed in a fire almost 10 years ago.
Basil said work on the project, which included engineering, design, the demolishing of the existing structure and reconstruction took almost two years.
“I am pleased to note that the K26.5 million investment was delivered on time, below budget – savings of more than K2 million – and to the quality level set and expected by MRDC,” he said.
“I am advised that Gobe Haus is ready for use with the ground floor already fully leased and high interest for the remaining two floors.”
Basil congratulated the MRDC board and managing director Augustine Mano on the successful completion.
He said the redevelopment was the latest testament to MRDC’s growth since 1975 and first major investment in Lae.