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Summarised by Centrist
Waikato-Tainui has announced what it says is its largest investment since settling with the Crown 30 years ago.
The iwi entered into a joint venture with global investment firm Brookfield to further develop the Ruakura Superhub in Hamilton. The partnership’s long-term development value is forecast at more than $1 billion.
The deal will see the iwi and Brookfield purchase four existing industrial and logistics buildings at the 610-hectare inland port precinct.
Tenants include Kmart, Big Chill, and Refrigafreighters. The land remains under Waikato-Tainui ownership, but financial terms, governance, and profit-sharing details with Brookfield have not been disclosed. While the deal was praised, questions remain over commercial control, risk-sharing, and returns to iwi members.
The Superhub connects to both the Port of Tauranga and Ports of Auckland via rail and services an area covering more than half of New Zealand’s GDP, according to project backers.
Prime Minister Christopher Luxon, who attended the announcement, called the day “momentous” and praised the iwi for its vision and ambition.
Waikato-Tainui chairman Tukoroirangi Morgan described the deal as a “legacy development” and said it would send a signal to other iwi that partnerships with global firms were possible.
The iwi’s total assets were valued at $2.4 billion as of March, with property as its largest investment category.
Read more over at The NZ Herald
