NASFUND ANNOUNCING KINA HAUS AS NEW NAME FOR THE TOWER
28 November 2017
National Superannuation Fund (NASFUND) today announced Kina Haus as the new name to the tallest building in Port Moresby, Downtown.
Ian Tarutia, NASFUND’s Chief Executive Officer in a joint announcement said: “It’s really a way for us to make this flagship building a statement of the global-quality facilities we can offer tenants right here in Port Moresby.”
Mr Tarutia said: “The restyling and colouring of the building will modernise its look and feel with extensive refits of the façade, lobby and common areas.”
“The building will feature new elevators, state-of-the-art air conditioning, new power generators and an uninterrupted power supply to ensure that all of the tenants of the building enjoy state-of-the art services,” added Mr Tarutia.
“The new look will feature a ground floor restaurant in a tropical courtyard setting as well as ample meeting space and other retail offerings including the possibility of a new flagship branch for Kina Bank on the ground floor.”
The building enjoys 18 levels comprising 3 basements with parking for 205 vehicles, extensive lobby and retail, food and beverage areas and 14 levels of prime office space. Net lettable area is 14,800 square metres and is extensively tenanted with leading organisations.
“Kina signage will feature prominently on the 18 level building following a PKG50 million refurbishment that NASFUND has undertaking to bring the building up to global standards as a prime office complex,” said Mr Tarutia.
Chetan Chopra, Kina Securities’ acting Chief Executive Officer said: “For some time now Kina has been looking for a fresh new building in a prominent site to reflect our growing position as PNG’s newest and most exciting finance organisation.”
“We have always thought that Douglas St / Musgrave Street area to be the true historic heart of Port Moresby and this decision cements us in this very important and strategic position reflecting our own progressive approach to financial service delivery,” said Mr Chopra. “We’re very excited to be working with NASFUND to establish ourselves in this historic and important building.”
Kina Haus is wholly owned by NASFUND for the benefit of its 500,000 members and has been owned by the fund since it was built in 1998.