Fletcher, Ross Taylor

Fletcher Building in red, posts $190m loss, no dividend for shareholders

Fletcher Building has made a $190 million loss, only the second time since listing on the NZX in 2001 that it slipped into the red, shareholders will get no dividends for the full year and no trading update has been provided. The company with a market capitalisation of $5.8 billion this morning released its annual […]

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Auckland, NZ, NewZealand, Onehunga, Wharf

Onehunga Wharf key for neighbourhood revitalisation

    Onehunga Wharf has been acquired by Auckland Council in a move that will be critical to the revitalisation of Onehunga over the next 30 years.   The vision for the wharf is that it will be transformed into a new community, with homes, cafés, retail and public spaces, while retaining its seafaring history […]

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Buchan Expands into Global Practice

Through a merger with three other firms, Buchan expands into a leading global design practice. Buchan made an announcement early May that it has unified three practices in Australasia, Asia and Europe into one global company. The merger has resulted in a brand new face for the group, which includes a name shift from The […]

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NZ Build

Whanganui Joins Construction Boom

Whanganui firms are now joining in the rising construction activity in New Zealand. Jamie O’Leary from Jamie O’Leary Builders and Stonewood Homes claims to be witnessing its “longest incremental high in living memory” within Whanganui and its surrounding areas. “It’s really good – we are doing bloody well,” exclaimed Mr O’Leary. “It’s been steady with […]

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Chinese Tradies to Help Complete Park Hyatt Hotel

200 Chinese workers will be flown to Auckland to help complete the $200 million Park Hyatt hotel located in the city’s Wynyard Quarter, which is projected to be finished in March 2019. Fu Wah developers from Beijing explained that the lack of skilled workers in construction would delay the project for months if no workers […]

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Eastfield Avenue Sees Violations

Construction sites in Eastfield Avenue, a large residential development area in eastern Auckland, was found violating building site rules after staff from Auckland Council’s regulatory team paid a site visit. Developers were held accountable as they did not comply to the rules. Regulatory compliance manager, Steve Pearce, said that this could result in a fine […]

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$12million Hospital Expansion

With the number of ED patients hitting record high, many non-essential surgeries are not being performed. As the Emergency Department receives a record influx of patients, Hawke’s Bay Hospital had to delay non-life-threatening surgeries. The demand for hospital services proved exceptionally high in 2017, especially for acute surgeries – which had been running around-the-clock since […]

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KiwiBuild Will Carry Risk

Government officials informed Housing Minister Phil Twyford that KiwiBuild plan will carry risk. The new Minister was briefed by officials from several ministries regarding Labour’s housing policies as he came into office. At present, Labour’s biggest plan is KiwiBuild: to deliver 100,000 new affordable homes in the next ten years, with 50% in Auckland and […]

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Companies Without Insurance Face Collapse

The legislation of the new law may result in the collapse of construction companies as two tiers will be created, says James MacQueen, advisory partner in the construction and real estate sector for business advisory and accountancy firm BDO. The amendment was a response to the collapse of Mainzeal in 2013, which leaves unsecured creditor […]

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christchurch

Half Christchurch Hotel Rooms Occupied

Only Half of The Hotel Rooms in Christchurch Are Presently Occupied With more tourists visiting central cities like Akaroa, Hanmer, Waipara, Tekapo and the ski fields, it has damaged the booking reservation among Christchurch hoteliers. With the opening of the 17-level redeveloped Crowne Plaza, Hospitality New Zealand’s Canterbury spokesman Peter Morrison said the record had […]

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