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Iwi group invests $100m on plans to revive local economy

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A Hawke's Bay iwi group is investing more than $100 million in commercial developments with plans to reinvigorate the local economy.

The Mana Ahuriri Trust has launched their plans to become one of the largest commercial property and asset owners in the region.

The trust is the post-treaty settlement governance entity that represents the Ahuriri and Napier areas.

The first project is set to start in September with a $20m retail development in Napier.

Trust director Warren Ladbrook said the project would turn an unsightly "gravel pit" into an large format retail strip.