CITY Developments Limited's New Zealand unit on Wednesday said it will stop all development works and shut its corporate office in response to the country's imminent lockdown.
The unit, CDL Investments New Zealand , added that sales activity would not be affected by the one-month lockdown, which takes effect from midnight on Wednesday. Land agents and other personnel will work remotely during the lockdown, CDI said, adding that it is confident all unconditional agreements for the sale of land it currently holds will be settled during the course of this year.
But the company noted:"Delays in regulatory site inspections and issuance of titles are expected given the imminent lockdown of non-essential services."
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