China Business: On the waterfront

An artist's impression of a 200-room hotel on the western edge of Viaduct Harbour, which a Beijing developer will build by late 2016.
An artist's impression of a 200-room hotel on the western edge of Viaduct Harbour, which a Beijing developer will build by late 2016.

Above is an artist's impression of a 200-room hotel on the western edge of Viaduct Harbour, which a Beijing developer will build by late 2016.

The $200 million investment is being touted as one of the biggest foreign investments in public infrastructure in New Zealand and the first major deal to come out of the mayoral taskforce visit to China in 2012.

The development agreement was signed with Fu Wah in Beijing late last month.

The hotel, on the site of the former Team New Zealand HQ, will be a five to six star building with a world-class signature design, a premium international hotel brand, and will be built to the highest sustainability standards.

Waterfront Auckland is granting a terminating leasehold interest on the site and will remain the landowner.

Fu Wah will open an office in Auckland soon and is already in the process of appointing local consultants with specialist skills.

This is believed to be the first Chinese-built premium hotel in Australasia and is expected to help maximise the likely benefits to Auckland of the new convention centre.

- NZ Herald

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