Several VNPF-owned buildings to be demolished

January 23, 2025 9:44 pm | Posted in Business News | Share now TwitterFacebook

By Anita Roberts.

Three buildings owned by the Vanuatu National Provident Fund (VNPF), including the top floor of its Port Vila headquarters, will be demolished due to damage caused by the earthquake.

These major rental properties in the Port Vila’s Central Business District (CBD) include the National Bank of Vanuatu (NBV) building, the Customs & VAT Office (which also houses the Office of the Auditor General), and the Utilities Regulatory Authority (URA). They generate monthly revenue for the fund.

The top floor of the VNPF Headquarter will not likely be rebuilt after demolition.

Other buildings, like Centre Point, the former Post Office building, former Club Vanuatu, former Air Vanuatu building, and the Australian High Commission building, were not severely damaged.

The Director General (DG) of the Prime Minister’s Office (PMO) and the Chairlady of the National Recovery Committee (NRC), Cherol Ala, confirmed that VNPF, along with its insurance company, have assessed the damage and submitted a report outlining the demolition time frame.

General Manager (GM) of VNPF, Paul Kaun, told the Daily Post that demolition will start in mid-February, starting with the rooftop of the VNPF Headquarters building and the URA, before moving on to NBV and the Customs & VAT Office.

GM Kaun said that some of the costs for demolition and reconstruction will be covered by insurance, with an additional VT250 million coming from VNPF.

He said that the estimates for the demolition work have been prepared, and will be reviewed and approved by the VNPF Board in its next meeting.

NRC Chairlady Ala has assured that any support VNPF needs from the government will be provided, through the Government Investment Programme (GIP).

Meanwhile, the VNPF Office has relocated to its Data Warehouse at Pango road following the earthquake.

The GM said it would take some time for them to return to their office.