Hollywood director James Cameron says his family is hoping to "be accepted as good neighbours" in their upcoming move to New Zealand.
The director behind blockbuster hits Titanic and Avatar has bought around 1000 hectares of farmland in south Wairarapa, reportedly valued at $20 million.
Cameron is expected to move to the property later in the year as work begins on the sequel to Avatar at Weta Digital in Wellington.
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"The Cameron family is thrilled to be making a new home in New Zealand," Cameron said in a statement.
"We love the rugged landscape and the spirit of the people here, and are looking forward to becoming resident on our beautiful farm.
"I grew up working on my grandfather's farm in Canada, and my wife Suzy's family own a farm in Oklahoma."
Cameron said he and his wife want their children to grow up close to land and with a strong work ethic.
"We hope we will be accepted as good neighbours and good members of the community in South Wairarapa."
The properties are along Western Lake Rd in south Wairarapa.
The property sales were approved by the Overseas Investment Office (OIO) in December.
The records show that Cameron and his family, who currently live in Malibu, California, plan to "reside indefinitely" in New Zealand, and operate both properties as working farms.
One of the farms Cameron bought includes Lake Pounui, which the Bayleys real estate website describes as "possibly the finest privately owned natural lake in the country".
Prices to 'skyrocket'
News of the purchase comes less than a week after the Government approved the sale of the 16 Crafar farms to a Chinese company.
It has left many questioning New Zealand's rules around foreign land ownership.
Green Party co-leader Russell Norman said foreigners buying up New Zealand land will see land prices skyrocket, driving it out of the hands of kiwis.
"There's a bigger issue if you look at globally productive land, particularly land that can produce food and has access to water, which New Zealand obviously is well placed, that land is becoming increasingly valuable, as the price of food is only going to go up.
"If we let that land fall into foreign ownership not only will it drive up the price of land in New Zealand so it will be very difficult for kiwis to buy farms. But it also means we lose one of our key economic positions globally."
He said despite positive feedback from Federated Farmers those in the industry are bothered by it.
Labour and NZ First have also expressed reservations about Cameron buying up land.
Labour leader David Shearer said his party's preference is that land be bought by New Zealanders, and he does not like the idea of attracting people to New Zealand simply on the basis of their wealth.
However, Prime Minister John Key said foreigners can "add value" to New Zealand.
"Titanic opportunity"
Federated Farmers said Cameron's decision to live in New Zealand and farm his properties unlocked a "titanic" opportunity.
"This successful application by Mr Cameron shows why Federated Farmers position on overseas investment is that the rules we have must be applied without fear or favour," said Federated Farmers President Bruce Wills.
"I am encouraged that Mr Cameron's OIO application states that they are going to farm the land they've purchased.
"There's much we'll be able to do in helping them settle into the Wairarapa and into farming.
Wills said Cameron's move would bring global attention to New Zealand farming.
Film critic Dominic Corry told TV ONE's Breakfast the buy up is big news for New Zealand's film industry.
"This is the biggest director in the world how can this not be a good thing?"
"A lot of people are going to see this as his faith in our industry."
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