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$550m housing project on its way

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Sep. 27 / 2013

Fairway Bay at Whangaparaoa’s Gulf Harbour will eventually add 1000 new houses priced from $595,000 to $850,000.

Work is about to start on a $550 million 1000-house Auckland project by a company 45 per cent owned by Chinese billionaire and Shanghai Pengxin chairman Zhaobai Jiang. Top Harbour is building Fairway Bay at Whangaparaoa’s Gulf Harbour.

“Of the 37 lots in the first release, 17 have been sold, predominantly to local building companies including G.J. Gardner, Landmark Homes, Jennian Homes and SentinelHomes,” a Top Harbour spokesman said. “The average lot size is 528sqm.”

Fairway Bay places are priced from $595,000 but the spokesman said initial sales were from $725,000 for single-level houses to $850,000 for a four-bedroom two-level house. The first places will share a swimming pool, clubhouse and tennis court. A further 40 lots will be developed in summer.

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