Fletcher Building’s net earnings for the December half-year fell 8%, and taking out significant items they were down 33%, the company said today.
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Stats NZ balances tenant & landlord costs to find overall housing costs unchanged
Statistics NZ produced figures yesterday to show that, on average, New Zealand households paid no more for housing costs in 2019 than they did in 2018.
Read more →World property W19Feb20 –Goodman exiting Europe? And Goodman Group half-year
Unconfirmed report that Goodman selling out of Europe – Goodman half-year results
Read more →Migration – where from, and changes
The overall migration picture is not straightforward.
Read more →Net migrant inflow down 11.4% in year
New Zealand’s net migrant inflow in 2019 fell 11.4% from the previous 12 months, from 49,380 to 43,765, according to Statistics NZ’s calculation out today.
Read more →PFI lifts profit by 60%
NZX-listed Property For Industry Ltd lifted net profit last year by 60% to a record $176.3 million ($110.1 million in 2018).
Read more →Augusta defers tourism fund, expects earnings cut
Augusta Capital Ltd has deferred launching its Augusta Tourism Fund until the new financial year starting in April. It had expected to launch the fund in the first quarter of 2020.
Read more →Convention centre repair programme unlikely to meet APEC target
SkyCity Entertainment Group Ltd said yesterday the cost of the International Convention Centre fire last October was $240.6 million in revenue, $186.3 million in net profit after tax.
Read more →SkyCity takes $241 million hit from fire
SkyCity Entertainment Group Ltd said yesterday the cost of the International Convention Centre fire last October was $240.6 million in revenue, $186.3 million in net profit after tax.
Read more →Asset Plus signs council for Albany development, prepares for capital-raising
NZX-listed Asset Plus Ltd anticipates starting construction of Auckland Council’s new Albany service centre early next year, for completion in 2022.
Read more →Reserve Bank holds cashrate, debates outlook
The Reserve Bank held the official cashrate at 1% yesterday… Since last May, the Reserve Bank has also posted a summary of the debate had by its monetary policy committee…
Read more →World property W12Feb20 – Simon buys control of Taubman
Simon Property Group Inc is set to buy 80% of The Taubman Realty Group LP.
Read more →Metlifecare sets Swedish takeover timetable
NZX-listed retirement village company Metlifecare Ltd has set the timetable for its takeover by Swedish private equity investment fund EQT Infrastructure IV Investments Sarl.
Read more →Millennium & Copthorne Hotels income up, profit steady, virus hits bookings
Millennium & Copthorne Hotels NZ Ltd lifted its income by 35% in 2019 and scored a net jump of over 150% in revaluations/impairments, but increased net profit by only $312,000.
Read more →CDL sustains earnings, asset values jump
CDL Investments NZ Ltd’s annual earnings from its land subdivision business were up marginally, but the company’s asset values have jumped.
Read more →Strong support evident for Oyster’s Tauranga Crossing limited partnership
Oyster Property Group Ltd began briefings for wholesale investors last week on interests in a limited partnership that will initially own 60% of the $315 million Tauranga Crossing retail centre on the outskirts of Tauranga.
Read more →Augusta launches new fund next week
Augusta Funds Management Ltd will open the Augusta Property Fund for investment next Wednesday, closing on 20 March, but still hasn’t set a date for the launch of its tourism fund.
Read more →E+O launches investment in daycare centre portfolio
Erskine + Owen (E+O Property Syndication Ltd) has launched a $15.55 million portfolio of 5 daycare centres targeted at wholesale investors.
Read more →Strong NZ connections already for Augusta bidder Centuria
Augusta Capital Ltd’s board announced the proposed sale of the NZX-listed property investment company last week to ASX-listed Centuria Capital Group for $2/share, valuing it at $180 million.
Read more →Oyster launches Pastoral House investment
Oyster Property Group Ltd has launched its proportionate ownership scheme for Pastoral House in Wellington, which it’s conditionally bought from Precinct Properties NZ Ltd for $77 million.
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