A company owned by the Chinese Government has been given permission to buy 42.3 hectares of land in Auckland's north west - the equivalent of more than 40 rugby fields.
Universal Homes, which the Overseas Investment Office (OIO) says is 97 per cent owned by the Chinese Government, got the green light for the deal last month.
The decision was released by the OIO today and lists the vendors as Westgate Joint Venture, which is a collection of landowners in the area near the Westgate Shopping Centre.
The OIO said that Universal Homes is a property developer specialising in projects that involve subdivision through to completed houses.
The OIO, when approving the deal, said that the deal was likely to produce a "large number of properties in a short timeframe".
