18 Apr 2013

Maori land body wants to expand investment areas

10:18 am on 18 April 2013

The body managing about 100,000 hectares of Maori freehold land wants to expand its investment into areas that will directly benefit Maori.

The Office of the Maori Trustee on Wednesday appeared before a Maori Affairs Committee in Parliament.

One of the investments is 30% ownership of hotels in the Quantum Hotels group.

Maori Trustee Jamie Tuuta says owning hotels isn't part of the long term vision and it is likely they will be sold.

He says it wants to invest in the land such as farming.

Mr Tuuta says the office is holding about $6 million in funds for about 38,000 beneficiaries whose contact details it does not have, and it is focused on finding these people.