One of the Chow brothers' property investment vehicles is teaming up with the multi-billion dollar China Railway Zhongji group to build houses in Auckland.
Chow-backed Inno Capital - which bought housing company Stonewood in February - has signed a joint venture with the Chow Group and China Railway Zhongji to invest $100m in building homes in Auckland.
China Railway Zhongji is one of China's largest state-controlled businesses with a multi-billion dollar balance sheet.
Stonewood CEO Warwick Isaacs said the venture with China Railway Zhongji was an indication of how seriously Stonewood will be targetting Auckland's housing crisis.
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"The new joint venture company will help fund Stonewood Auckland's expansion as well as potential infrastructure projects and PPP [public-private partnership] opportunities," he said.
According to a company statement, the Chow Brothers, John and Michael will co-own most of Auckland area franchise, along with all of Hamilton, Wellington and Christchurch.
Inno Capital is owned by John and Michael Chow and Clint Webber.