November 27, 2007

Media Release (For Immediate Release)

New Director for Property Company

Harry O’Rourke has been appointed to the board of Waitakere Properties Ltd (WPL).

He fills one of two vacancies on the board of the company, which is a wholly owned development arm of Waitakere City Council.

Mr O’Rourke is well known in local government circles, where he has spent the majority of his career. He is currently CEO at Waitakere City Council and retires from that position in March 2008.

“We are delighted that we can retain some of Harry’s institutional knowledge of the City and its major projects,” says Mayor Bob Harvey after his Council unanimously endorsed the appointment.

“The next few years will see Waitakere transition from a City of potential to one of huge growth and opportunity, and Harry and his fellow directors on the property company have a key role in delivering that vision.”

In recent years WPL has been involved in a number of major projects, including the 41.5hectare residential development at Harbourview (Te Atatu Peninsula) and the building of the country’s largest film studio and soundstage in Henderson Valley Rd.

It is currently undertaking a large mixed-use development in central Henderson including retail, office and residential development alongside the new Civic centre. The estimated value of the Waitakere Central development, located on the 3.5ha former Carter Holt Harvey site on Henderson Valley Rd, is more than $100 million.

The company is also responsible for delivering on the vision of a super yacht precinct at Hobsonville as a driver of economic growth for the City. The end value of this development is $150 million.

Mr O’Rourke helped establish Waitakere Properties Ltd (under the then Waitemata City Council). He says is he particularly looking forward to a continuing role with major infrastructure developments he has overseen in his time at Waitakere City Council, including the undergrounding of the railway corridor through New Lynn and the “massive development opportunities” that will bring.

ENDS

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