Precinct Properties New Zealand Limited (NZX: PCT) owns, develops and manages premium city centre real estate in Auckland and Wellington, New Zealand's largest urban centres; its core portfolio focuses on high-quality office buildings, Precinct Flex co-working spaces, Commercial Bay retail precinct and multi-unit residential developments, with a directly-held portfolio valued at $3.2 billion on-completion and $1.6 billion in capital partnering assets under management as of June 2025. Founded in 1997 and headquartered at Level 12, 188 Quay Street, Auckland, the company operates a stapled group structure with Precinct Properties Investments Limited since July 2023, serving leading businesses, government entities and institutional investors through sustainable, mixed-use properties including flagship developments such as PwC Tower, Wynyard Quarter Innovation Precinct, Bowen Campus and Commercial Bay. Recent developments include commencing construction on York House in Parnell and advancing a joint venture with Orams Group for commercial office and marine-related space at Wynyard Quarter; securing resource consents for student accommodation at 256 Queen Street and residential projects at Pillars in St Mary’s Bay and Dominion/Valley Roads in Mount Eden; committing to New Zealand's largest student accommodation facility at 22 Stanley Street for the University of Auckland via a partnership with Keppel; announcing a capital partnership for PwC Tower to recycle capital towards the Downtown Car Park redevelopment; completing the sale of remaining interests in 40/44 Bowen Street for $48 million and a conditional $180 million sale of the InterContinental Auckland hotel; executing a NZ$310 million equity raise in October 2025 to fund growth; and rebranding Generator to Precinct Flex while achieving 97% portfolio occupancy with 17.2% leasing spreads.