Nauru Escape in DC

Property a prime investment says DAVID S. NORTH.

NAURU’S latest investment in ur ban real estate is open for busi ness. The five-storey office and apartment building in Washington’s fash ionable Dupont Circle area is named “Pa cific House”. The building is designed to house the representatives of the various Pacific island jurisdictions, now scattered throughout the city.

A brand-new structure, Pacific House represents a sUSsmillion investment of the Nauru Phosphate Royalties Trust. The Trust owns the building there is no mortgage. This and other urban invest ments, such as the massive Nauru House

in Melbourne, will provide the people of Nauru with a continuing income after the phosphate isexhausted on the island a few years from now.

Fred Radewagen, who represents both the Phosphate Trust and the Cook Islands in Washington, says efforts are being made to encourage Pacific countries and lerri tories to take offices in the building, and to share joint services such as photoco pying, library and telex, In addition to office and meeting space, the building also has room, and separate entrances for, residential apartments on the top two floors of the building. □

An artist’s Impression of Pacific House.