A 200-room signature hotel is set to grace the Auckland waterfront thanks to a newly formed partnership between council organisation, Waterfront Auckland, and Beijing developer, Fu Wah International Group.

The new five-star hotel will be built on the western edge of Viaduct Harbour, with construction expected to commence in 2015 and a completion date in 2017. As part of the build, a new section of Auckland’s waterfront alongside Viaduct Harbour will be opened up for public use.

The $200 million investment by Fu Wah Group is believed to be one of the largest foreign investments in public infrastructure in New Zealand.

Auckland mayor Len Brown said the investment will provide huge boost to Auckland’s economy and status as an international destination.

“This marks the start of a new era for private capital-funded infrastructure projects that have the potential to deliver jobs and growth for Auckland.

“This deal is a direct result of Waterfront Auckland’s involvement on the mayoral trade mission to China in 2012 and it’s a huge achievement to secure an investment of these proportions.

“The hotel will provide a boost in job numbers and be instrumental in attracting high net worth individuals to visit Auckland – a segment recently identified by the tourism industry as still largely untapped,” Mr Brown said.

Fu Wah Group, which recently purchased the Park Hyatt hotel in Melbourne, has a strong track record in developing high-end real estate and the new Auckland site builds on its regional hotel portfolio.

Waterfront Auckland chief executive, John Dalzell, said the proposed hotel is a significant step forward for the development of the waterfront.

“We’re talking about a world-class signature design, a premium international hotel brand, and all built to the highest sustainability standards. This hotel will define our growing maturity as a city, and be a building of which all Aucklanders can be proud.”

The hotel development is currently before the Overseas Investment Office for approval.