Far North Iwi Te Rarawa has added a construction company to its portfolio, in a move that should speed up a new housing development and give trades training to locals.
Te Rarawa has bought Kaitaia based KPH Construction following 50 years of commercial and residential construction and development success in the region.
Acquired by Te Rarawa asset holding company Te Waka Pupuri Pūtea, the company forms part of its strategic commercial property and housing investment plan.
"It's a very good, reputable business with a good history. We're most pleased to include KPH and their long-standing team in our portfolio," June McCabe, Te Waka Pupiri Pūtea Chairperson said.
The addition of KPH's expertise and capability enables Te Rarawa to achieve key milestones in its investment strategy.
The move will help accelerate a new housing development and ensure essential repairs and maintenance of significant iwi-owned property assets, including those used by the community.
Te Rarawa expects the purchase to deliver results in construction industry development, education and employment through trade and apprenticeships.
"For now, for KPH it's 'business as usual' and we're grateful to the current management who have agreed to stay on for at least 14 months, while we get familiar with how KPH operates.
"There is already a significant amount of work in the pipeline plus future projects will bring business and workforce growth," she said.
The expanding Te Rarawa asset portfolio of over $90 million in value now includes fisheries, forestry, agriculture, horticulture, housing and construction.
Te Rarawa Chairman Haami Piripi said progress being made by the commercial arm is exceptional and bringing KPH into the fold will greatly advance further progress.
"I also see the opportunity to create an apprenticeship programme to support workforce growth and down the track we can look at affordable housing solutions," Piripi said.
KPH was established in Kaitaia in 1973 and specialises in commercial construction, repairs and high-end homes.
As the company commences a new journey with Te Rarawa, KPH managing director Brian Attwood is grateful for what has been achieved.
"I'm really happy Te Rarawa have acquired the company and wish them all the best in a successful venture," Attwood said.
"I'm glad the company will continue as KPH knowing the iwi will take it forward when I retire in a year or so," he said.