Post by Brent George on Mar 14, 2023 19:02:22 GMT
The Auckland suburbs where overseas investors are scooping up land
Stuff - Business: 15-Mar-2023
Overseas investors have scooped up more than $123m worth of land in the Auckland region since September last year under a pathway designed to encourage house building.
The largest purchases were by Neil Group, a company registered in the Virgin Islands and reportedly owned by Malaysian and Singaporean investors.
In November, it notified the Overseas Investment Office (OIO) it had bought 13 hectares of land on Trig Rd in Whenuapai for $49m.
The company is building a 300 house development in Whenuapai and the latest purchase will be turned into an industrial and business park “supporting” the suburb.
Stuff - Business: 15-Mar-2023
Overseas investors have scooped up more than $123m worth of land in the Auckland region since September last year under a pathway designed to encourage house building.
The largest purchases were by Neil Group, a company registered in the Virgin Islands and reportedly owned by Malaysian and Singaporean investors.
In November, it notified the Overseas Investment Office (OIO) it had bought 13 hectares of land on Trig Rd in Whenuapai for $49m.
The company is building a 300 house development in Whenuapai and the latest purchase will be turned into an industrial and business park “supporting” the suburb.