| 81 PROPERTY Ngāi Tahu Property Ltd: Property Council NZ Ngāi Tahu Property currently has active developments in Christchurch, Queenstown and Dunedin, as well as Auckland. lack of available land, but in my view a big driver of this affordability issue is around our cost of construction. It is among the highest in the western world when compared to other countries, as we lack scale.” For Ngāi Tahu Property, relationships rather than transactions come first. Establishing those relationships well before any transaction evolves is a big part of how Ngāi Tahu Property operates. “If a development opportunity comes out of a relationship, that’s well and good, but the relationship is first and foremost.” Ngāi Tahu Property’s first foray into the North Island was in partnership with the New Zealand Superannuation Fund, being a $130m high density residential development in Hobsonville. Ngāi Tahu Property currently has active developments in Christchurch, Queenstown and Dunedin, as well as Auckland. More recently, there has been a core focus on industrial property, and the company has a number of design and builds underway within their developments in Hornby (Mania). Further south, Ngāi Tahu Property has completed its first stage of a large-scale residential development called Te Pā Tāhuna on Gorge Rd, Queenstown to help increase housing supply. Of 27 apartments completed, 10 have been sold as part of the KiwiBuild programme. Looking ahead, Ngāi Tahu has a big focus on enabling Papatipu Rūnanga and whānau to achieve economic self-determination. “We have a chronic shortage of skilled people, especially within the subtrade sector where we are seeing significant price escalation.” NGAI TAHU PROPERTY LTD p: 03 358 5936 | e: christchurch@ftl.co.nz
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