Judge upholds $33m claim against Seascape developer

Judge upholds $33m claim against Seascape developer
Seascape has cost $300m to date. (Image: Jason Oxenham)
Maria Slade
Shundi Customs, the Chinese developer of Auckland’s abandoned Seascape tower, still owes the construction company at least $33 million, a judge has ruled.However, on Tuesday, Justice Greg Blanchard directed that the firm building the 56-level project, China Construction NZ, must register a guarantee from its parent company in China in favour of Shundi.The two Chinese companies remain in an entrenched dispute over what will be Auckland’s tallest building after the Sky Tower.China Construction NZ stopped work on the half-finished towe...

More Property

Summerset hastens care model pivot; govt subsidy 'suboptimal'
Property

Summerset hastens care model pivot; govt subsidy 'suboptimal'

Summerset wants 75% of its care units to have an upfront license-to-occupy payment.

Gregor Thompson 28 Aug 2025
Precinct looking for capital partners for PwC Tower
Property

Precinct looking for capital partners for PwC Tower

Precinct Properties wants to finance its last Commercial Bay development.

Gregor Thompson 27 Aug 2025
PFI boss expects NTA discount to close
Property

PFI boss expects NTA discount to close

Property for industry is trading at a 50-cent discount to the net value of its assets.

Gregor Thompson 25 Aug 2025
Banks carry almost $1b of unseen flooding risk: research
Economy

Banks carry almost $1b of unseen flooding risk: research

The fresh academic research came as the reporting season opened.

Staff reporters 25 Aug 2025