| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 9 March 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 1.0047 hectares of land at 44 Sunnyheights Road, Orewa. |
| Consideration | $2,800,000 |
| Applicant | Changda International New Zealand Limited China Public (42.0%) Chuanqing Wang, China, People's Republic of (18.0%) Pengqiang Xu, China, People's Republic of (12.0%) Jinxing Xue, China, People's Republic of (10.0%) Jiuzhou Zhu, China, People's Republic of (6.0%) Ying Wang, China, People's Republic of (4.0%) Chuanxiao Wang, China, People's Republic of (2.0%) Youming Yang, China, People's Republic of (2.0%) Lijie Qu, China, People's Republic of (2.0%) Zhigang Xue, China, People's Republic of (2.0%) |
| Vendor | Nan Zhang Australia (100%) |
| Background | The Applicant will use the Land to complement and support its development of residential housing at Sunnyheights Road, Orewa, Auckland. The Applicant intends to subdivide the Land into between 15 to 20 residential lots. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Martin Thomson/Pavanie Edirisuriya/Sherryn Harford DLA Piper PO Box 160 AUCKLAND |