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Precinct Properties NZ & Precinct Properties Investments Secures Fast-Track Approval for Downtown Carpark Redevelopment

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Precinct Properties NZ & Precinct Properties Investments (NZE:PCT) received resource consent under New Zealand's Fast-track Approvals Act 2024 for its Downtown Carpark redevelopment, clearing a key regulatory hurdle for the project, according to a Wednesday New Zealand bourse filing.

The expert panel granted the approval as the company continues its early contractor involvement phase with construction partner Built, which is scheduled to run through April 2027, the filing said.

The company said its decision to move forward with the full development will depend on progress in procurement, pre-leasing, and funding capacity, the filing added.

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