Commercial property players pick tough 2010 for industry

Statistics New Zealand reported today that the value of building work put in place for the commercial property sector fell in the December quarter, the third consecutive quarter to report negative results for commercial property.The Statistics New Zealand data for the December quarter did not include the recent big commercial property industry news that Kiwi Income Property Trust will develop a $160 million new headquarters building for ASB Bank at the Auckland waterfront Wynyard Quarter.

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