Kiwi Property secures Drury private plan change

NZX RELEASE
3 November 2022
Kiwi Property secures Drury private plan change
Ki wi Property today advised that its Drury private plan change application has been
approved by the Environment Court. The company’s 53-hectare Drury sit e will now be
re-zoned as a metropolitan town centre, providing the ability to be intensified up to a
height of 72 metres.
Kiwi Property GM Development, Ian Passau, said the successful outcome would unlock
a range of exciting opportunities and enable the company to move forward with its
plans to create a sustainable mixed-use community south of Auckland, over time.
“Drury is expected to become home to around 60,000 people in the next 30 years,
providing a unique opportunity to build a city from the ground up. Today’s ruling
confirms Kiwi Property’s site as the location for the future town centre and a nexus for
development in the area over the coming decades.
“The successful plan change outcome will help generate value and enable us to move
forward with stage one earthworks. We’re looking forward to developing a thriving
community where people from across the region will live, work, play and stay.”
ENDS
Contact us for further information
Campbell Hodgetts
Head of Communications and Investor Relations
campbell.hodgetts@kp.co.nz
+64 275 634 985
About us
Kiwi Property (NZX: KPG) is one of the largest listed property companies on the New Zealand
Stock Exchange and is a member of the S&P/NZX 20 Index. We’ve been around for over 25
years and proudly own and manage a significant real estate portfolio, comprising some of New
Zealand’s best mixed-use, retail and office buildings. Our objective is to provide investors with a
reliable investment in New Zealand property through the ownership and active management of
a diversified, high-quality portfolio. S&P Global Ratings has assigned Kiwi Property a corporate
credit rating of BBB (stable) and an issue credit rating of BBB+ for each of its fixed rate senior
secured bonds. Kiwi Property is the highest rated New Zealand company within CDP (Carbon
Disclosure Project) and is a member of FTSE4 Good, a series of benchmark and tradable indices
for ESG (Environmental, Social and Governance) investors. Kiwi Property is licensed under the
Real Estate Agents Act 2008. To find out more, visit our website kp.co.nz