Fletcher Building signalled it is running out of patience with the protracted arguments over the future of its Ihumātao site in Auckland.
"Fletcher Building has done our very best to allow for the parties to reach an agreement over an extended period, but we are not in a position to hold off development indefinitely," the company said in announcing its first-half results.
• Fletcher seeks urgent talks on Ihumatao stalemate
• 'Simply false': Winston Peters says Ihumātao deal still a long way off
• Why Ihumātao is being occupied by 'protectors'
• Ihumātao: Government 'trying to escape public liability' - Pania Newton
"We are the legal owners of a piece of land which is fully consented, that is empathetic to iwi considerations and the adjacent stonefields site, and which we are entitled to develop," the company said.
Over the past five years, the company had taken time to listen to a variety of stakeholders, including iwi who have mana whenua over the land, and also to gain all the correct council and government approvals for the development to go ahead, it said.
"We acknowledge the cultural and historical significance of the surrounding area and that's why we have worked closely with local iwi to design a scheme which gives over a third of our land to the historic reserve adjacent," Fletcher said.
"In July last year, the Prime Minister requested that we pause our development on the land we legally own to provide more time to explore alternative solutions before they came back to us," it said.
"We have respected this process and stood back as requested while the parties discussed an outcome."
Last month, the Māori King, who had been involved in negotiations between the parties since August, signalled a resolution was close.
Fletcher said it hoped "we can hopefully come to an agreement in the short term" with something "which all parties can be comfortable with."
BusinessDesk has asked Prime Minister Jacinda Ardern's office for comment on Fletcher's statements.