Nga¯ti Wha¯tua O¯ ra¯kei
The Auckland-based iwi has plans for significant increases in residential development, including construction at Bayswater on the North Shore. A joint venture with Fletcher in Massey is also underway.
With 100 per cent of its assets in Auckland property, Nga¯ ti Wha¯ tua
O¯ ra¯ kei’s portfolio is relatively undiversified, the report says.
While its investments have yielded strong returns in recent years, the strategy exposes the iwi to fluctuations in the property market — as apparent in this year’s performance. Nga¯ ti Wha¯ tua O¯ ra¯ kei is looking at diversifying into tourism.