CDL Land secures development land in Havelock North

Level 13, 280 Centre, 280 Queen Street,
P. O. Box 3248, Auckland 1140, New Zealand
Ph (09) 353 5077 Fax (09) 353 5098 Email: admin@cdli.co.nz


S T O C K E X C H A N G E A N N O U N C E M E N T 21 July 2021

CDL LAND NEW ZEALAND LIMITED SECURES DEVELOPMENT LAND
ACQUISITION IN HAVELOCK NORTH

CDL Land New Zealand Limited, the wholly-owned subsidiary of NZX-listed residential property
developer CDL Investments New Zealand Limited (NZX:CDI), is pleased to announce that it has
settled the acquisition of 69.4 hectares of land in Havelock North from the Lowe Family interests
after approval from the Overseas Investment Office was obtained earlier this month. The purchase
price for the land remains confidential between the parties.

“This is a very significant acquisition for CDL Land New Zealand Limited and something we have been
working on for some time”, said CDL Land’s Executive Director Jason Adams. “We would like to
express our sincere gratitude to the Lowe Family for their patience and co-operation over an
extended period of time as we worked through the various processes and obtained all of the
approvals we needed to”, he said.

Mr. Adams signalled that CDL Land would begin development works on the land as soon as
practicable once the necessary consents had been obtained. “We want to get works started as
quickly as possible as Havelock North is an area which is growing very fast, where present demand
for additional residential housing and sections exceeds supply and we are keen to be part of the
solution ”, he said.

CDI’s Managing Director Mr. BK Chiu said that the acquisition allowed CDI to maintain its long term
strategy of development in growth areas across New Zealand. “We are delighted with this
acquisition as it secures our position as a developer in the Havelock North region over the
immediate and long term”, he said.

“Geographic diversity has always been a key plank in our success. We have recently completed our
two Auckland subdivisions at Kewa Road on the North Shore and at Dominion Road in Papakura
with a third in Swanson, West Auckland in the final stages of completion. Staged completion of
sections at Prestons Park in Christchurch is ongoing. This Havelock North purchase adds to our land
holdings in the North Island in locations such as Hamilton and affords us the opportunity to meet
residential section demand in these two growing regional locations.”

-ENDS-

For general enquiries:
BK Chiu / Jason Adams
CDI Managing Director / CDL Land New Zealand Limited Executive Director
(09) 353 5058