Fletcher Outlines Problems, Names CEO
Fletcher Building has taken a further $125 million provision against problematic construction contracts, including Auckland's international convention centre and the Justice Precinct in Christchurch, and says...
New Zealand Residential Construction on the Rise
The value of New Zealand residential building work inched higher in the March quarter but total building values fell, weighed down by a sharp fall in...
NZ Faces $100 billion-plus Water Infrastructure Deficit
New Zealand's local authorities face a $100 billion-plus to replace ageing water pipes, drains and sewers and will need central government assistance to meet the bill,...
Kiwi Property Profit Falls 43 per cent
Kiwi Property Group has posted a 43 per cent fall in annual profit as the value of its property portfolio rose at a slower pace than...
HEB Construction Sinks into the Red
HEB Construction sank into the red last year after it wrote down the value of a major project by almost $31 million.
Pre-fab Firm ABT Put into Liquidation
Promising firm ABT Construction has been put into liquidation by transport firm Multi-Trans over unpaid bills amid reports of frictions within its management team.
NZ Adjudication: If it’s Not Broken, Don’t Fix it
Following in the UK’s footsteps, New Zealand introduced the Construction Contracts Act in 2004, bringing adjudication into the realm of alternative dispute resolution as a statutory...
NZ Reserve Bank May Hold Rate Until 2020
The Reserve Bank of New Zealand says it might not move the official cash rate for more than two years as it adds to voices pointing...
New Zealand Real Estate Slumps
The number of property sales across New Zealand slumped 10 per cent in December from a year earlier but prices continued to lift, according to the...
Fletcher Didn't Breach Market Rules: NZX
Fletcher Building did not breach disclosure rules in relation to two forecast earnings downgrades last year, the New Zealand stock exchange has found.
Goodman Sells NZ Buildings to Pay Down Debt
Goodman Property Trust will sell three of its Auckland offices for $206 million to reduce debt.