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- “The agreement is the second-largest hotel transaction on record in New Zealand this year,” Invest New Zealand, the government agency dedicated to facilitating foreign direct investment, announced on Tuesday.
KUALA LUMPUR (Oct 28): YTL Corporation Bhd’s (KL:YTL) subsidiary, YTL Hotels and Properties Sdn Bhd, made investments amounting to NZ$160 million (RM388 million) as it acquired the 225-room Hotel Indigo in Auckland, marking its first hotel investment in New Zealand.
“The agreement is the second-largest hotel transaction on record in New Zealand this year,” Invest New Zealand, the government agency dedicated to facilitating foreign direct investment, announced on Tuesday.
Besides YTL, Yinson Holdings Bhd (KL:YINSON) is set to invest in renewable energy infrastructure through its subsidiary, Yinson Renewables, which is set to develop projects with around 1 gigawatt (GW) of renewable energy capacity. The value of the project was not disclosed.
Commenting on the announcement, New Zealand’s Prime Minister Christopher Luxon said both investments demonstrate the commitment to fostering two-way investment between both countries.
“We deeply value our relationship with Malaysia, as well as your entrepreneurial spirit, exemplified by companies such as YTL, Yinson, and many other Malaysian businesses,” he said during the Malaysia-New Zealand Investment Announcements 2025 here on Tuesday.
“The announcement demonstrates that New Zealand is seen as a credible investment destination by high-quality global investors, and offers investment opportunities across a range of sectors,” said Invest New Zealand general manager Benny Goodman.
Meanwhile, YTL Hotels executive director Datuk Mark Yeoh said the investment reinforces the group’s long-term commitment to the region’s tourism and hospitality sector.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
