Arvida pares back building plans

Tue, 26 May 2020

Arvida will build 20 percent fewer units than planned due to the covid-19 outbreak softening the housing market. The retirement village operator had expected to build more than 250 new units in the 2021 financial year but has revised that number down to 200 in anticipation of a slowing housing market. During the financial year ended March 31, the group built 210 new units, almost double the 113 units built the prior year. The economic fallout from covid-19 is expected to stop the housing market in its tracks, with BNZ economists warni...

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