PODCAST: Is Auckland's Midtown APAC’s most undervalued investment opportunity?

Auckland's Midtown district is undergoing a NZ$10 billion transformation that is fundamentally reshaping New Zealand's commercial capital.

Anchored by the $5.5 bn City Rail Link, the country's largest infrastructure project providing the equivalent connectivity of 16 new highway lanes, news of the city’s transformation is spreading fast around the global investment community.

“Every week this year I've had high net worth Americans come and see me," says Simon Bridges, CEO of the Auckland Business Chamber, speaking on the JLL Perspectives podcast.

A new International Convention Centre, multiple premium hotels including the Radisson Red and DoubleTree by Hilton, and significant mixed-use developments are also part of the Auckland CBD regeneration, creating what experts are describing as a more connected, liveable urban environment. New office spaces on Wakefield Street and Victoria Street offer flexible working models reflecting evolving workplace needs.

These developments are a boon for the city which has struggled to recover from the Covid-19 lockdowns.

"We're not back to where we were, but foot traffic is growing again. The perceptions are more positive," notes Viv Beck, CEO of Heart of the City. International students have returned to pre-Covid levels and cruise ships are bringing renewed energy to the waterfront, she adds.

Recent policy changes have attracted $3.3 billion in committed investment from high-net-worth migrants since the beginning of 2024. Asian, European, and North American investors are increasingly viewing Auckland as a safe haven in an uncertain global environment, the podcast heard.

"If Auckland was a stock, it would be undervalued right now," says Todd Lauchlan, Managing Director and Head of Capital Markets for JLL New Zealand.

Watch the full podcast on JLL’s YouTube channel.