Why invest in Auckland’s commercial real estate
No.1 in projected office rental growth
Auckland was ranked first in the Projected Office Rental Growth category of the JLL’s 2016 City Momentum Index Report.
Rise in retail spending
According to Bayleys Research, retail spending in Auckland in 2016 grew by 8 per cent. This increase has been driven partly by our booming population – 44,500 new residents (45 per cent of the national total).
New city office spaces
About 170,000m2 of CBD and metropolitan office space were under construction in the second quarter of 2016.
$10 billion in upcoming projects
Auckland has NZD$10 billion of projects planned for the CBD in the next decade, including the Auckland hotel project, Project Palace; regeneration projects by Panuku Development Auckland, and the Wynyard Quarter Innovation Precinct. Many of these projects will offer new office and commercial spaces.
Industrial and Commercial Bank of China (ICBC), the world’s most profitable bank, has established a branch in Auckland and is ready to invest in large infrastructure projects.