New Zealand

Naumi acquires two hotels in New Zealand for redevelopment
SINGAPORE (Nov 5): Naumi Hotels has acquired two hotels in Wellington, New Zealand – namely Comfort Hotel Wellington at Cuba Street and Quality Hotel Wellington along Dunlop Street – as part of the Singapore-based private hotel owner’s expansion plans. Both hotels are reported to be owned by New Zealand ex-mayor Kerry Prendergast’s husband, Phil McGaveston, his company Sage Securities, ...
Roxy-Pacific acquires commercial office building in Auckland for $62 mil
SINGAPORE (Sept 28): Roxy-Pacific is acquiring a commercial office building in New Zealand for a consideration of NZD63 million ($61.7 million). Subsidiary Roxy-Pacific NZI entered into an agreement to acquire NZI Centre, a property located at 1 Fanshawe Street in Auckland. The building is located in the western side on Auckland’s central business district with a leasehold tenure until ...
Global Yellow Pages to buy New Zealand real estate for $37.3 mil
SINGAPORE (Sept 14): Global Yellow Pages announced Thursday that an indirect wholly-owned subsidiary, Bellfield Estate, has entered into a conditional agreement to acquire a plot of land in Papakura, New Zealand, for NZ$38.0 million ($37.3 million). The plot of freehold land, which spans approximately 21.8521 hectares, is currently vacant with no activity. The group says it intends to ...
Small, island nations like New Zealand lead the digital pack
(July 13): Larger economies may be in danger of losing the digital race to smaller and more nimble nations. Several Nordic countries, Switzerland and tech-centric South Korea are ahead of the US and Japan, according to a digital economy ranking conducted by researchers at Tufts University in partnership with Mastercard Inc. When also factoring in nations' relative digital ...
Hotel Grand Central to buy PWC Centre in Christchurch for $49 mil
SINGAPORE (June 8): Hotel Grand Central announced Thursday that wholly-owned subsidiary Grand Central (NZ) has entered into an agreement to acquire the PWC Centre in Christchurch, New Zealand for NZ$49.0 million ($48.6 million). It had entered into a conditional sale and purchase agreement for the 6-storey commercial office building on May 10. The agreement became unconditional today, ...
Australia's AAA rating is back under the microscope
SYDNEY (May 9): Australia’s AAA rating is again under the microscope as the government prepares to deliver a budget Tuesday that appears long on spending pledges and short on savings. Of the 10 holders of the top score from the three main rating companies, Australia is the only one that’s increased its debt pile in the past three years. S&P Global Ratings put Australia on negative ...
Kiwis get twitchy as foreigners flock to New Zealand and don't leave
WELLINGTON (April 27): An unprecedented influx of immigrants is exacerbating a housing shortage and stretching infrastructure such as schools and hospitals, sparking heated political debate around the issue ahead of this year's general election. "Now, more than ever, we need to pause and rethink our current settings," said Andrew Little, leader of the Labour ...
Surfing trendsetters can make an economic splash
SYDNEY (MARCH 21): The discovery of a new surf spot allows a lucky board rider to commune with nature unfettered. Yet the inevitable influx of surfing hordes can also spur a burst of economic growth, according to new research. A survey of more than 5,000 breaks in 146 countries suggests the discovery of high-quality surf can drive up economic growth by 2.2 percentage points a year in ...
Global Yellow Pages given nod by district council to go ahead with NZ development
SINGAPORE (Dec 27): Global Yellow Pages has been given the council go-ahead for its development project in New Zealand. Its subsidiary, The Remarkable Residences (TRR), on Dec 23 received a “resource consent” from Queenstown Lakes District Council to build 225 residential dwellings and associated infrastructure and siteworks on the freehold land of 38,400 sqm located at Eastern Access ...
Global Yellow Pages subsidiary acquires land in New Zealand for $5.2 mil
SINGAPORE (Nov 15): Global Yellow Pages announced that its subsidiary, Remarkable Residences, has acquired a plot of 38,400 sqm freehold land in Queenstown, New Zealand for $5.2 million. The property is located at the Eastern Access Road and was fully funded with the net proceeds from a share placement on Oct 7. Shares of Global Yellow Pages closed flat at 17 ...