New Zealand’s biggest property developer is planning a new wave of design and construction in the Auckland area.
The company, New Zealand Real Estate Group, is planning to create a new home and business development hub in the Otago region of New Zealand.
A spokesperson for the company said: “The Otago City Council has approved our application for the first of three new residential developments in the city.”
New Zealand Real Property Group is committed to creating a vibrant and attractive environment for people and their families, and we’re thrilled to welcome this exciting new development into the Otakaya area.
“The Otakay City Council is thrilled to support this exciting development and will work with Otago Regional Council to provide an exceptional experience for the Otaki community.”
In a press release, the Otay City council said it would work with the developer to establish a “strong public-private partnership to support the development of the new residential development”.
The new development is expected to create about 50 jobs, according to a press conference held by the Otahakariki City Council on Thursday.
The development will be the first to be built under the new city development plan that will replace the existing Otakays current Otakamu, Otago and Waikato councils.
The plan is due to be published in June.
New Zealand’s second biggest property company, Auckland-based Crown Properties, has also announced it is creating the Otae City Business Park, a $15 million shopping, office and entertainment precinct on the site of a former police station, on the Otakei River in Auckland.
The project, which will be known as OtaeCity, is set to be the second-largest office complex in the world when it opens in 2019.
The Otae city business park will feature restaurants, retail, hotels and entertainment venues, as well as the new Otaki Regional Centre.
The plans also include the construction of a new Otay River Bridge connecting Otaki with Otay Bay, which has been proposed as a new gateway to the rest of the country.
The building, which is expected be completed in 2019, will be located on Otay Avenue, near Otakaimu and Otay Street.
Auckland-based Otae Property Group, which also owns the Otawa Road shopping centre, announced plans to build a new shopping centre in Otaki in May.