June 11, 2015
Ngai Tahu steps up Auckland presence
Ngai Tahu Property wants in on the booming Auckland property market.
It has hired Eden Park Trust chief executive David Kennedy to become general manager of the South Island iwi’s Auckland property unit, starting in late August.
Chief executive Tony Sewell says Ngai Tahu Property has experienced successful growth in the South Island and is ideally placed to maximise the opportunities in the property development sector in Auckland.
Last year the tribe’s property business earned $63.4 million before interest and tax, up 66 percent on the previous year.
That was driven by strong sales in its Christchurch residential developments and above budget results from its Eyrewell development in north Canterbury, where eventually it will create 20 farms on former crown forest land.
Mr Kennedy, who has been a director of the company since 2009, the same year he joined the Eden Park Trust to oversee the upgrade of the stadium for the Rugby World Cup.
He started his career with property development and town planning roles with Auckland City Council before moving on to work for the St Lukes/Westfield NZ Shopping Group and casino operator Sky City Entertainment Group.
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