Ryman Healthcare plans to build a retirement village in the eastern Auckland suburb of Howick.
The company told shareholders at its annual meeting in Christchurch on Tuesday that it had bought a 3.5 hectare site for the development, which will be its 26th retirement complex.
Ryman's chairman David Kerr says the company plans to build a village offering the full range of care.
Mr Kerr says the company is trading ahead of last year for the first quarter.