Brookfield co-head of Australia and New Zealand real estate Ruban Kaneshamoorthy said the company was “very selective” with whom it partners but was looking forward to the joint venture to “further activate” the major logistics and industrial precinct within the Superhub.

“It is a special day for us. We are excited to be partnering with TGH as we look to make this very strategic investment… to develop a $1b… logistics precinct.

“We see Ruakura as a hub where we can create a great logistics product and we see the demand.”

Kaneshamoorthy said Brookfield had been drawn to investing in the Superhub as it was a special opportunity.

“It’s a very unique piece of infrastructure, but then the ability to also work with iwi … and TGH in this particular instance, in a quite unique way was very appealing.

“I think we’ve got very complementary skillsets in terms of a global real estate expertise with what is quite large and vast pools of capital to a very local and focused team that is able to unlock and has proven that they can bring this on.”

Chairman of Te Arataura, the executive committee of Waikato Tainui, Tukoroirangi Morgan said the joint venture was “transformational”.

“We’re about a month away from 30 years since the historic signing of the raupatu settlement… In those 30 years, this is the single largest investment that this tribe has undertaken.

“It’s pretty difficult to find the appropriate words… to explain the euphoria, the sense of achievement, the scale of the opportunity, that has come as a result of that partnership,” Morgan said.

“We are proud, we are excited by the fact that we are working now with a global giant.

“This is, without a doubt, the thing that moves the dial, the thing that is transformational, not only for our tribe, but actually offers the opportunity for other tribes across this country to believe, actually doing business with a global giant is possible.”

Morgan said the development was “a legacy for future generations” and a reflection of “the strength of the Maori economy”.

Prime Minister Christopher Luxon said he was impressed with the collaboration.

“Congratulations to all of you. This is genuinely … a monumentous day in terms of this partnership being forged.

“I hope you feel incredibly proud of what you’ve achieved, but more importantly about what you’re building for the future here.

“It is simply incredible, and I think incredibly world-class what you’ve developed.

“It’s not just about an investment here for Waikato-Tainui, it’s actually an investment here on behalf of all of New Zealand.”

TGH chairwoman Hinerangi Raumati Tu’ua said the partnership with Brookfield would unlock “the full potential” of the Superhub.

“Our shared vision to invest at Ruakura Superhub will bring a suite of benefits to the Waikato and Aotearoa and, in particular, economic growth.”

The transaction is expected to close in the second quarter of 2025.

However, Brookfield also hinted at further projects in New Zealand.

“We have been quite impressed in terms of what we’ve seen from New Zealand,” Kaneshamoorthy said.

“Hopefully this will be the first of many investments that we make in New Zealand.”

What is the Ruakura Superhub?

Ruakura Superhub is a 610ha development in Hamilton, featuring logistics, industrial, retail and residential development areas, as well as a 30ha inland port.

It has direct access to the Waikato Expressway and connects the three major economic nodes of Auckland, Hamilton, and Tauranga, also known as the Golden Triangle.

It’s a major supply chain corridor, servicing around 45% of New Zealand’s population, 42% of the nation’s freight and 55% of the country’s GDP.

Existing tenants of the Superhub included Maersk, Big Chill Distribution, Waitomo Group, Kmart, Refrigafreighters and PBT Express.

TGH, the commercial entity of Waikato-Tainui, has been developing the Superhub since 2006.

Danielle Zollickhofer is a multimedia journalist and assistant news director at the Waikato Herald. She joined NZME in 2021 and is based in Hamilton.