Section 12(a) Overseas Investment Act 2005
|Decision Date||14 December 2017|
|Investment||An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 46.0188 hectares of land at 42A Puketaha Road, Puketaha, Hamilton (“Land”).|
|Applicant||CDL Land New Zealand Limited|
New Zealand Public (38.897%)
Hong Leong Group, Singapore (24.4489%)
Singapore Public (22.2896%)
Various overseas persons (11.0858%)
United Kingdom Public (3.2788%)
|Vendor||Geange Farms Limited|
New Zealand (100%)
The Applicant’s business is the acquisition and development of land from an undeveloped form to residential housing sections.
The Applicant plans to develop the Land into a modern high quality residential subdivision and sell the sections on the open market. The subdivision is intended to include supporting open space, commercial and social activities.
The Applicant has a number of previous investments in New Zealand, which have created jobs throughout New Zealand and residential housing sections, including in Auckland, Christchurch and Hamilton.
New Zealanders also own approximately 39% of the Applicant’s parent company, which is an NZX listed company.
|More information||Andrew Petersen|
PO Box 4199