Global Yellow Pages buys Auckland plot of land for NZ$38m

Singapore

GLOBAL Yellow Pages (GYP) on Thursday said it has signed a conditional agreement to buy a plot of land in Papakura, New Zealand, from land developer Motleon Limited for NZ$38 million (S$37.3 million).

It said that the acquisition is in line with its strategy to further develop its core property business, broaden the group's revenue stream, and to pursue opportunities with good prospects for income and long-term growth. When completed, this will be the group's third purchase of real estate in New Zealand.