DecisionConsent granted
Section 13(1)(b) Overseas Investment Act 2005
Decision Date13 December 2017
InvestmentAn overseas investment in significant business assets, being the establishment of the business of holding long term commercial property (including a hotel) for investment purposes, where the expenditure required before commencing business will exceed $100 million.
Cost of Commencing Business$121,900,000
ApplicantNew Zealand ZhiXiang Investment Limited
Wai Shing (Wilson) Wong, China, People's Republic of (80%)
Shuchao Weng, China, People's Republic of (10%)
Wenshuai Wang, China, People's Republic of (10%)
Background

The Investment is the Applicant’s first long term commercial property project in New Zealand.  The Applicant intends to acquire approximately 1.024 hectares of non-sensitive land in Queenstown and construct a hotel.

The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment.

More informationKellie Bright
Shieff Angland
PO Box 2180
Auckland