Better result for Kiwi Property as it 'overcomes' worst of high interest rates

The opening of its Resido build-to-rent development is a milestone for Kiwi Property.

Mon, 27 May 2024

Sylvia Park owner Kiwi Property has reported a much improved net loss after tax of $2.1 million for 2024, thanks to stabilising property values.This compares to a net loss of $228m in 2023.The commercial property operator booked a net fair value loss of $77.8m on its $3.2 billion portfolio for the year to March 2024 versus a $352m revaluation downwards the prior year.Chief executive Clive Mackenzie said that the fair value of Kiwi Property’s portfolio had overcome the highest interest rate environment to hold firm and...

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