Precinct plans $681 mln development in downtown Auckland

Thu, 10 Dec 2015

By Paul McBeth Dec. 11 (BusinessDesk) - Precinct Properties New Zealand, which raised $174.1 million in March to help fund major developments, will go ahead with a planned $681 million development in downtown Auckland, including a 39-storey waterfront office tower and retail centre, using funds from a newly established banking facility. The Auckland-based company's development will encompass Precinct's four buildings in the surrounding area, which it anticipates will be worth about $1.5 billion on completion and represent 63 percent of t...

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