Fu Wah given OIO green light for Auckland hotel
Chinese company Fu Wah has the go ahead for a $200m hotel deal with Auckland Council.
Hong Kong-registered Fu Wah has obtained Overseas Investment Office permission to acquire a lease from an Auckland Council subsidiary for a $200 million hotel.
Fu Wah will take a leasehold interest from Auckland Waterfront Development Agency in approximately 0.5729 hectares of land at 99-177 Halsey St, Wynyard Quarter.
As reported earlier this year, Fu Wah has clinched an agreement with the council and Auckland Waterfront Development Agency to build a $200 million five-star hotel on the Waitemata Harbour waterfront at Wynyard Quarter near the Viaduct Harbour area, which is being opened up for commercial and community development.
Mayor Len Brown said in April the deal would benefit the tourism industry and attract wealthy Chinese tourists.
The OIO says the deal will provide jobs, increased export receipts, and investment for development.
Fu Wah is owned 90% by Hong Kong interests and 10% by interests within the People’s Republic of China.
Chris Hutching
Fri, 31 Oct 2014
Fri, 31 Oct 2014
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Fu Wah given OIO green light for Auckland hotel
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