Ngati Kahungunu says its purchase of a large farm is the template for more land acquisitions.
The tribe has bought Tautane Station, which sits on ancestral land south of Porangahau, in Hawkes Bay.
The farm has 12 kilometres of coastline, which could lead to the development of aquaculture and reseeding of kaimoana stocks
The buy-up is part of the iwi's effort to meet the demand of the growing high end Asian market.
Taratahi Agricultural Training for New Zealand will lease the farmland from the tribe.