Management update – GM Development

NZX RELEASE
1 May 2024

Management update – GM Development


Kiwi Property today advised that Ian Passau, GM Development, will be leaving the
company following a restructuring of its development function.

Kiwi Property Chief Executive Officer, Clive Mackenzie, said: “Ian has made a huge
contribution to Kiwi Property over the past seven and a half years, leading major
initiatives such as the Sylvia Park galleria expansion, the construction of our Resido build-
to -rent scheme and the successful upzoning and commencement of development at
our Drury landholding.“

“Unfortunately, given our focus on cost reduction and with no new development
projects commencing in the short term, we’ve been forced to make some tough
decisions. I want to thank Ian for everything he has done for the business and we wish
him all the best for the future."

Ian will remain at Kiwi Property until mid-August 2024.

ENDS

Contact us for further information:
Campbell Hodgetts
Head of Communications and Investor Relations
campbell.hodgetts@kp.co.nz
+64 27 563 4985
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 have 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.
Kiwi Property is licensed under the Real Estate Agents Act 2008. To find out more, visit our
website, kp.co.nz