8 Sep 2014

DNZ to sell property to focus on malls

9:03 am on 8 September 2014

One of New Zealand's largest property investment companies is selling $50 million of properties to focus on the development of its Westgate and Johnsonville malls.

An impression of the centre.

An impression of the new Westgate shopping centre. Photo: Supplied

DNZ Property Fund chief executive Peter Alexander said Westgate was on track to open on time, on 1 October 2015, and within its $155 million development budget.

The company hoped to release its development plans for Johnsonville mall before the March 2015 end of the financial year.

Mr Alexander said the company was confident it would be able to meet its goal over the next year or so.