Chairmans Report

16 December 2019

12 years ago, the landscape of Mangatawa Papamoa Blocks Incorporated is a lot different to what you see now.

The Committee of Management had moved on from leasing our whenua to those who simply used the whenua for their own purposes and paid a pittance for it.

 

We took back the land, appointed a Farm Manager and in 2007 with the blessing of you our share-holders and the blessing of the land by our Apotoro Pahu Akuhata, started our first venture into the Retirement Village industry and began Pacific Coast Retirement Village. Today, Pacific Coast Village is 95% completed and our second village Pacific Lakes Retirement Village is well underway.

 

 

Our decision to invest in Gold Kiwifruit some 4-5 years ago is about to pay its way as license and infrastructure costs are all but paid for.

 

 

We have a new office that is freehold and early next year the papakainga will increase in size with 6 x2 bedroom units and 1 x3 bedroom rental, plus a 4-bedroom & a 3-bedroom license to occupy homes. Thanks to Paula who has successfully negotiated funding from Te Puni Kokiri of $1.107.246.00 worth of infrastructure costs. Mangatawa are now ‘registered Social Housing Providers’.

 

Through innovative and sustainable business practices Mangatawa have become leaders in land development and have achieved phenomenal growth since the first sod of soil was turned on the Tui Landscape Supplies, site not too many years ago. Our diversification is unique among Maori Incorporations and Trusts and has not gone unnoticed. 

 

By growing our net asset value to the tune of $120 million heading into 2020 and beyond, being a shareholder or beneficiary of Mangatawa Incorporation is not a bad place to be.

 

With that I extend to you all on behalf of myself, the Committee of Management & staff of Mangatawa, a very Merry Xmas and a Happy, Safe & Prosperous New Year.

 

“KAUA MA TE WAEWAE TUTUKI, ENGARI MA TE UPOKO PAKARU”

“PERSEVERE WITH DETERMINATION AND DON’T BE PUT OFF BY SMALL OBSTACLES”

 

Naku noa, na

Kevin Haua

 

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