Auckland real estate boss Don Ha has sold a historic villa in St Heliers for $10,217,391 to Heliers Holding Limited, a company directed by Mala Maharaj, the current chief executive officer of REMAX New Zealand.
The sale of the four-bedroom property on Springcombe Road, which sits on over 3000 square meters of land, concluded in November of last year, two months after it was placed on the market, according to property information firm OneRoof. Ha originally purchased the colonial-era villa in 2019 for $6.8 million with initial plans to demolish the existing structure and build a modern mansion.
Those plans, which included designs by Sumich Chaplin for a five-bedroom home featuring an elevator, circular staircase, five-car garage, and rooftop pool, were ultimately abandoned. The property was then marketed with an emphasis on its potential for subdivision, subject to Auckland Council approval.
Ha, who is chairman of REMAX NZ, and Maharaj both declined to comment on the transaction. The sale was brokered by Ha’s brother, Zarn Ha, and colleague Aaron Jokhan of REMAX Revolution.
Prior to purchasing the property, Ha had acted as the listing agent for the Springcombe Road villa in 2018, marketing it as an opportunity for developers to build luxury townhouses or apartments. A valuation of the property conducted in 2023 estimated its worth at $12.5 million, down from a peak valuation of $15 million during the height of the housing market.
Maharaj’s career has been closely linked to Ha’s, beginning in 2004 as general manager at Don Ha Real Estate. She progressed through various roles within REMAX Revolution before being appointed CEO of REMAX New Zealand in 2024, according to her profile on the REMAX New Zealand website.
