Kumul Consolidated Holdings (KCH) has marked a monumental double milestone for Papua New Guinea’s national development agenda with the official groundbreaking ceremony for Kumul Haus—the anchor development of the Kumul Haus Commercial Office Complex—and the official launch of a historic publication documenting 50 years of State-Owned Enterprise (SOE) evolution.

The event was hosted directly at the historic Old Port Moresby Wharf site—the exact location where the state-of-the-art Kumul House complex will stand. The ceremony brought together key government leaders, international partners, and public-private sector executives to celebrate a transformative shift in the nation’s asset management strategy.

Kumul Haus, a modern 10-story complex boasting 12,000 square meters of Grade A office space, will serve as a centralized, “one-stop-shop” hub. It will consolidate major state enterprises under one roof—including KCH, PNG Ports Corporation, and PNG DataCo—ending decades of reliance on rentals and strengthening the state’s balance sheet. Designed by Pawa Architecture, the building features energy-efficient capabilities and a curtain wall system seamlessly blended with traditional cultural motifs on its facade.

Operating under a public-private partnership (PPP) and a DBOLT (Design, Build, Operate, Lease, Transfer) framework, the project is being executed alongside development partner Jura Dyer Joint Venture Phoenix Limited Company. This innovative “rent-to-own” model allows KCH to reclaim 101 million kina previously lost to external rental dependency, converting legacy liabilities into productive state assets. Construction is slated for completion within two and a half years, with full office relocation targeted for 2029.

In his keynote address, Hon. Minister William Duma, Minister for State Enterprises, highlighted the profound long-term impact of this financial model:

“The one hundred one million kina that KCH and some of its SOEs have been paying in rent so far to the private sector since the inception of KCH will never come back, as we all know. But from today, every kina repaid by KCH in those SOEs is a kina that’s invested in our country—in an asset that in fifteen years our people, through KCH, will own outright. And that is the vision, that is the commitment.”

The journey to the groundbreaking required years of complex engineering and rigorous regulatory navigation, spearheaded by a dedicated project team. Hon. Minister Duma acknowledged the immense dedication and leadership of KCH Managing Director, Professor David Kavanamur and the team to bring the waterfront precinct to life.

A pivotal milestone in the project was the complex land reclamation of 3.2 hectares, rezoning, and subdivision of the site into 17 distinct titles. Mrs. Freda Tabari, KCH Executive Manager for Infrastructure and Property, who has steered the project from day one, reflected on its multi-decade history:

“I joined KCH in 2014 as a Project Engineer attached to the Project Management team units for the Port redevelopment project. The decision to relocate the port was a national decision that emerged back in 1998… This part where we are sitting used to be underwater and three point two hectares of land had to be reclaimed to be usable so that it will be aligned with the master plan… We are legally, structurally, and strategically ready for development.”

Both KCH management and government leaders extended deep acknowledgements to the Department of Lands and Physical Planning and the National Capital District Commission (NCDC) Physical Planning Board. Their coordinated institutional support was foundational in resolving long-standing legal obstacles, regularizing the land titles, and finalizing the precinct’s master plan layout.

Kumul Haus stands as the critical anchor investment for the broader Portside Gardens Precinct urban renewal strategy. KCH is actively collaborating with the government to secure Special Economic Zone (SEZ) licensing for the precinct to unlock a wave of commercial, lifestyle, hospitality, and residential investments.

NCD Governor Powes Parkop lauded the project as an iconic development that will redefine the waterfront and establish the capital city as a premier Pacific business hub. Highlighting the city’s robust economic momentum, Governor Parkop shared also key urban growth statistics since 2019 which included 1.36 billion kina in infrastructure development stating that urban development equally contributes to the economy and where Kumul Haus will stand is prime land and thus development on prime land should be outstanding.

The landmark event also featured the official commissioning of the 243-page publication, ‘From State to Enterprises,’ authored by John Brooksbank. Commissioned in honor of the nation’s golden independence anniversary, the book chronicles the evolution of PNG’s state enterprises into a portfolio that collectively manages more than 13 billion kina in assets today.

Following an official dedication prayer by Pastor Jack Edwards, Hon. Minister Duma led the formal ceremonial procession to the groundbreaking site alongside KCH Chairman Moses Maladina, Governor Parkop, and traditional community representatives, charting a bold, self-reliant future for Papua New Guinea.