Join our daily newsletter At The Bell to receive exclusive market insights
- A massive fire broke out yesterday at the SkyCity Entertainment Centre at New Zealand’s International Convention Centre
- While one person was taken to the Auckland City Hospital, no deaths or any other serious injuries have been noted
- Unfortunately, the fire has put a spanner in the works of the A$654 million project led by SkyCity and Fletcher Construction
- The project includes the convention centre, the 5-star Horizon Hotel, a retail laneway, and carparks
- The completed site was meant to host the 2021 APEC Conference however, Auckland Mayor Phil Goff has stated that seems unlikely
- SkyCity shares are slightly down 0.83 per cent, with shares trading at $3.59
A massive fire broke out yesterday at the SkyCity Entertainment Centre at New Zealand International Convention Centre
The fire broke out at 1:00 pm NZDT and fire and emergency teams responded immediately. Respondents are reportedly still working to contain the fire at a satisfactory level.
The under-construction convention centre, as well as the wider SkyCity Auckland precinct (including the Sky Tower, casino, SkyCity Hotel, SkyCity Grand Hotel, car park, restaurants and corporate offices) was immediately evacuated.
While one person was allegedly taken to the Auckland City Hospital, no deaths or any other serious injuries have been noted.
SkyCity is New Zealand’s largest tourism, leisure and entertainment company.
In late 2015, SkyCity partnered with Fletcher Construction Company to invest NZ$700 million to build the 32,000 square metres New Zealand International Convention Centre and the 5-star, 300-room Horizon Hotel.
Also as part of the contract, is the construction of the retail laneway linking Nelson and Hobson streets, and 1327 carparks under the NZICC.
The new NZICC and Horizon hotel have provided a huge boost to the Auckland construction market and is set to create many jobs.
Unfortunately, the fire has made an impact on the project delivery timeline, although SkyCity and Fletcher are yet to discuss the extent.
The project was initially meant to be completed mid-this year, but at this stage, there will be further delays pushing back the completion of the project.
The events of the fire have led to the Government searching for a plan B location for the Asia-Pacific Economic Cooperation (APEC) Conference in 2021.
“This is big for Auckland, it’s big for SkyCity, but it’s going to have real implications for whether that convention centre can be completed on time for the APEC Conference,” Auckland Mayor Phil Goff said.
“Here was a brand new international convention centre which was fit for purpose, to host the leaders’ meeting,” the Mayor continued.
SkyCity CEO Graeme Stephens and Fletcher CEO Ross Taylor will provide a joint update to the market later today.
SkyCity shares are slightly down 0.83 per cent, with shares trading at $3.59 as at 2:45 pm AEDT.
