More than $1.6b foreign investment in NZ last year

Thursday 25 March 2004

Foreigners invested just over $1.6 billion in New Zealand last year - and purchased almost 13,500 hectares of land.

By The Landlord

The land buy is less than half what it was in 2002 and the lowest figure since 1993.

The figures have been released today by the Overseas Investment Commission.

The two biggest investments it approved last year were the ANZ's purchase of the National Bank for $5.7 billion, and Fairfax Holdings' $1.8 billion acquisition of Independent Newspapers.

The Commission says it also approved seven applications involving freehold land including or adjoining the foreshore.

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