| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 15 December 2025 |
| Pathway | Residential land development |
| Investment | Entry into a Joint Venture Agreement, granting an interest in approximately 16.36 hectares of land located at 98-104 Totara Road, Whenuapai, Auckland. |
| Consideration | $25,000,000 The Value of the Land will be set after the Subdivision Approval Date under the Joint Venture Agreement. |
| Applicant | Neil Construction Limited Malaysia 91% |
| Vendor | Maraetai Land Development Limited New Zealand 100% |
| Background | The Applicant has developed residential properties principally in the Auckland Region since its incorporation in 1956 and has been involved in 55 separate residential property developments since 1992. It is ultimately owned by Oregon Group Limited, a New Zealand incorporated company held by members of the Tiong family. The Applicant has entered into a joint venture agreement with the Vendor to purchase a half share in approximately 16 hectares of land to jointly develop residential sections and on-sell them to builders for house construction. The Applicant owns the surrounding land. Consent was granted as the Applicant has met the investor test criterion and the Investment is likely to meet the increased housing test. |
| More information | Anthea Coombes Glaister Keegan PO Box 63 Shortland Street Auckland 1140 |