NZ Secures $150 Million for Queenstown Cable Car via Investor Visa
New Zealand has taken a significant step toward financing a major infrastructure project in Queenstown, with NZ$265 million ($150 million) earmarked for a proposed cable car network. The funds will come from Private Capital Group, an approved manager under the government's Active Investor Plus visa program. Immigration Minister Erica Stanford emphasized that the visa aims to attract high-net-worth investors to New Zealand, facilitating capital flow into key economic sectors. She highlighted that this financing deal demonstrates how the visa program can support substantial infrastructure developments.
The cable car project, developed by Southern Infrastructure Ltd., plans to construct a 10-kilometer (6.2-mile) network connecting Queenstown airport to the town center and other urban areas. The initial cost is estimated at NZ$400 million, with potential operations starting by the end of the decade. Infrastructure Minister Chris Bishop noted that while the project still faces regulatory and design hurdles, securing this level of financing is a major milestone.
The Active Investor Plus visa program, launched in early 2025, has seen considerable activity, with 949 applications, 496 approvals, and NZ$2.9 billion already committed to New Zealand. An additional NZ$2.3 billion is in the pipeline. The visa program is designed to draw international capital into productive parts of the economy, with the Queenstown cable car project serving as a prime example of its potential impact.
The project aims to alleviate congestion in the busy corridor between the airport and downtown Queenstown, which saw over 10 million vehicle journeys in 2025. Southern Infrastructure plans to blend private capital with other funding sources, including charges on beneficiaries of the anticipated land value uplift once the cable car is operational.