Kiwi Property trims another 4.1% from portfolio valuation

(Image: NZME)

Mon, 06 Mar 2023

Kiwi Property Group trimmed 4.1% from the value of its property portfolio, saying that rising interest rates have weighed on valuations around the world. The owner of Sylvia Park said it expected its property valuation to fall $134.7 million in the six months ending March 31 to $3.2 billion. That’s on top of the $213.3m unrealised fair value writedown in the September period. Kiwi Property’s portfolio was valued at $3.6b at the end of the March 2022 financial year. “Our investment portfolio continued to track we...

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