Tak Development is owned by the giant Japanese Takenaka Corporation.
Subdued sales numbers, easier finance, and lower interest rates have sparked a mass jump onto the property ladder, Cotality says.
Residents raise concerns while Infrastructure Minister Chris Bishop overrides a negative recommendation by the Ministry for the Environment.
The residential market faltered last year, while the listed sector retraced prior year losses, with more expected into 2026, analysts say.
Australian entertainment and hotels company EVT has picked up the first of the New Zealand Hotel Holdings eight-hotel portfolio.
Between them, these ‘Infamous Five’ have managed to destroy almost half a billion dollars from investors and lenders this year.
Sale is part of Infratil’s ‘legacy portfolio’ divestment strategy, with funds to be reallocated into its data centre developments.
Nook’s directors blame unpaid client bills for cashflow issues, while 160 creditors have been recorded.
The regulatory watchdog has received six concerns about the failed housing company but says it falls outside its scope.
Nine years on and the Onehunga residential towers remain unfinished, with the troubled development in the hands of receivers.