Ngāti Whātua Ōrākei has announced the launch of Te Tomokanga ki Tāmaki - The Gateway to Auckland, a tangata whenua-led investment initiative.
Ngāti Whātua Ōrākei Trust deputy chair Ngarimu Blair launched the Te Tomokanga ki Tāmaki today at the Iwi Chairs Forum held in Auckland and said the initiative was for the people.
“As tangata whenua and iwi of the Waitematā, Ngāti Whātua Ōrākei holds a deep responsibility to manaaki, to care for and uplift our own people and the people living in Tāmaki. Through Te Tomokanga ki Tāmaki, we are creating pathways for joint iwi investment, sharing in the economic prosperity of Tāmaki Makaurau, Aotearoa’s economic powerhouse to achieve our shared purpose.”
Ngāti Whātua Ōrākei is one of the largest landowners in Tāmaki Makaurau with a $1.5 billion commercial portfolio, including assets like Te Tōangaroa, the eastern end of Auckland’s waterfront, along with significant land holdings in Takapuna/Devonport and Mount Albert.
Te Tomokanga ki Tāmaki aims to foster collaboration among iwi Māori to invest in the opportunities that Tāmaki Makaurau has, using the principles of tikanga Māori, to place cultural values at the forefront of this initiative.
“Tikanga Māori will be a pillar of Te Tomokanga ki Tāmaki, ensuring that investment in Tāmaki is done in a respectful manner, acknowledging the mana of the respective iwi that are involved. Uplifting our people will be at the heart of Te Tomokanga ki Tāmaki through collaborative investment,” Blair said.
The iwi is collaborating with property developer New Zealand Exchange-listed Precinct Properties, which owns and operates 18 buildings in Auckland and Wellington’s city centres with a portfolio value of $3.7 billion. The venture will demolish the carpark and redevelop the land with two mixed-use high-rise towers. Precinct bought the property for $122 million from Auckland Council.
“We’re excited to work in partnership with Precinct Properties to facilitate iwi investment into the redevelopment of this site. This iconic and generation-defining development is a remarkable opportunity to launch Te Tomokanga ki Tāmaki,” Blair said.