MORE HIGH-END CBD SALES

Ceerose expects all full-floor apartments in Eliza to have sold before completion A flurry of interest in the luxurious Eliza at 141-143 Elizabeth Street has developer Ceerose confident it will have just one full-floor apartment to sell by the end of next week. Three full-floor apartments sold before Christmas and another two have sold this […]

Russian billionaire grabs Edgewater site

Oleg Baybakov company pays $21.5M for Miami property Russian mining oligarch and developer Oleg Baybakov is jumping on the Edgewater bandwagon, The Real Deal has learned. A company called 700 Edgewater Development paid $21.5 million for a 37,462-square-foot property in the burgeoning Miami neighborhood, according to Miami-Dade County records. A 58-unit apartment building is currently […]

Got milk? Brookland to build 36-unit condo in East Williamsburg

Developer in contract for 28,000-square-foot property at former home of condensed milk factory   Talk about a sweet deal. An East Williamsburg loft building that was once a condensed milk factory will be converted into a 36-unit condominium building , developer Boaz Gilad of Brookland Capital told The Real Deal. Brookland is in contract for […]

South Street Seaport review process could set blueprint

Move comes amid push for stronger community voice in development decisions The added scrutiny Howard Hughes Corporation is undertaking at its proposed South Street Seaport project could mean an added layer of discussion for other projects aiming to sprout around the city under Mayor Bill de Blasio’s administration. The planned 50-story tower’s review process could […]

Dattner Architects files plan for long-dormant Harlem site

98,000-square-foot building to be Boys & Girls Club of Harlem’s new home, residential rental After decades languishing unused, a former school building at 523-525 West 145th Street in Harlem is finally puttering toward a future as a residential rental building and home of the Boys & Girls Club of Harlem. Dattner Architects filed an application […]

Paola Navone-designed villas launch in Como, Phuket

COMO Hotels and Resorts, the owner of Metropolitan Hotel in Bangkok, has launched its Point Yamu Villas resort, the company’s maiden project outside the Thai capital. The 32-acre property in Point Yamu has twenty private villas featuring the contemporary designs of Paola Navone—the Italian designer who helped popularise the ‘shabby chic’ concept in the 1990s—and […]

London-based Royal Gateway project launches in Hong Kong

Luxury London developer Galliard Homes recently showcased its latest mixed-use offering to potential Asian investors at an exhibition in Hong Kong last weekend. Designed by award-winning architects Studio Egret West, the 2.2 hectare Royal Gateway project, , will comprise 336 private residences, in addition to commercial outlets, and numerous community gardens. It is located in […]

Leighton Properties on the home stretch – final stage of Erko approved and ready for release

Erskineville, rated one of Sydney’s most ‘in demand’ suburbs, is about to receive a boost to its housing stock. Leighton Properties and LaSalle Investment Management have just received DA approval for the final stage of their popular Erko residential estate, with a release planned in March. The much-anticipated final release will comprise 41 apartments in […]

Retail resurgence gives Double Bay’s property market a long-awaited boost

After being in the doldrums for more than a decade, Double Bay has sprung back to life, with many believing it is close to regaining its mantle as a Mecca for Sydney’s influential, talented and famous. New retailers have attracted a younger crowd, The Cosmopolitan Centre is buzzing again, a $50-Million Woolworths is about to open, […]

Fung confirms plan for $4bn resort on northern beaches

HONG Kong billionaire Justin Fung is moving ahead with his $269 million takeover of the Cairns casino but has confirmed his main plan for a casino in a $4.2 billion integrated resort on the city’s northern beaches. Cairns has had the one casino since the 1980s that is 70 per cent owned by French-based Accord […]

State acts to cool concern on assets sale

THE NSW government is expecting $70 million for two sandstone buildings in Sydney’s CBD, but it is fielding concerns from bidders about the lack of car parking and a heritage-listed clock tower that could cause renovation costs to skyrocket. Since its call for expressions of interest closed in December, the state has attracted interest from […]

MJM+A Architects to the design North America’s tallest tower

Manhattan-based design firm MJM+A Architects PLLC recently introduced the Hudson Spire project, set to be the tallest structure in North America and third tallest in the world. Once completed, the 5489-metre steel-and-glass tower will surpass the Freedom Tower of OneWorldTradeCentre in the United States, and will be the world’s third tallest building after the Burj […]

London luxury apartment complex developer invites Thai investors

British developer Land Securities is inviting Thai buyers to invest in The Nova, one of its latest London-based residential projects. Land Securities residential director Tom Eshelby told Thai newspaper The Nation that the Victoria district development will offer 83,335 sqm of living and working space to interested investors, including foreign buyers who are allowed by […]

Stalled Miami office project site sold to developer

The site of a stalled office development near Miami’s Overtown area has been sold to a group that plans to reposition the property as residential. Krystal Investment Solution, which has ties to a Brazilian developer, paid $3.5 million for the 530 Northwest First Court property last week, ExMiami reported. It has already filed plans with […]

Funds cash in on city unit boom

FUND managers AMP Capital and Charter Hall Group are the latest property owners hoping to cash in on Sydney’s apartment boom, with the groups set to offload two office towers to developers. They plan to sell older office buildings in separate deals worth more than $150m. If the deals go ahead, more than double that […]

Development Securities acquires portfolio in North London

Development Securities announces that it has completed the acquisition of a portfolio of five office properties for £17.5 million as referenced in its most recent interim management statement. The acquisition was partly financed by a new three-year facility from Barclays. The portfolio comprises five office properties in underground zones 1 and 2 of North London, […]

Mayfair Capital’s Property Income Trust for Charities fund reaches £245 million mark following a series of acquisitions

Mayfair Capital Investment Management, the UK real estate investment manager, announces that its flagship fund, the Property Income Trust for Charities (“PITCH”), has increased in size to £245 million, having completed a further £12 million of acquisitions. PITCH has acquired three restaurant units on Greenwich Peninsula in south-east London for £5.7 million from Greenwich Peninsula […]

Leighton breaks ground on North Sydney’s newest A-Grade commercial tower.

Construction is officially underway at 177 Pacific Highway, North Sydney’s first new commercial tower in six years, following a formal groundbreaking ceremony at the 2,418sqm site. The $413M, 40,000sqm, 30-level development is being developed by Leighton Properties and built by Leighton Contractors. It will become the Leighton Group’s new global hub, with the Group to […]

Jeddah-based Al Murjan Group revamps London’s Vantage House offices into luxury flats

Al Murjan Group, one of Saudi Arabia’s leading property developers, will be converting Vantage House into a six-storey luxury apartment building to address the growing demand for upscale homes in Central London. The former office building was acquired by the Jeddah-based group in January 2013 to add to its global portfolio and was green lit […]

China’s Greenland Group to build USD1 billion Metropolis Los Angeles project

One of Shanghai’s leading developers, Greenland Group, is set to debut in the United States after announcing construction of the USD1 billion Metropolis Los Angeles project as part of the group’s international expansion. The mixed-use development on Francisco Street, between 8th and 9th Streets in Downtown Los Angeles, aims to reshape the West Coast’s real […]

Barangaroo bound

An accounting and advisory firm is close to signing up as the anchor tenant for Lend Lease’s planned third office tower at Barangaroo, with details expected to be released at its results in late February. There are also suggestions among leasing agents that law firm Mallesons was looking to move into the third tower to […]

James Packer’s Macau investment starts to pay off

James Packer’s Crown Resorts will earn a return on its investment in Macau for the first time, after its joint venture casino operator in the region, Melco Crown, said it would begin to pay a regular dividend. After its fourth quarter results for 2013, in which net income doubled to $US223.2 million, Melco said it […]

Number of new homes in England set to increase but not by enough

Developers in England across all property sectors are set to increase their output with 167,000 new homes a year to be built by 2018, according to new forecasts from international real estate adviser. But this is still short of the 240,000 a year required to meet need in England, but a 55% rise on the […]

Lend Lease eyes Queens Wharf

DEVELOPMENT giant Lend Lease has registered its interest in the multi-billion-dollar casino and urban Queens Wharf redevelopment in the Brisbane central business district, according to sources. It is the fourth big player to emerge as a potential tender candidate, with The Australian revealing yesterday that Chinese developer Greenland Holdings Group is bidding for Queensland’s biggest […]

LEIGHTON PROPERTIES AND QUALITAS TO DELIVER THE HIGH LIFE AT BONDI JUNCTION – LAUNCH SET FOR MAY

Leighton Properties and joint venture partner Qualitas are tapping into the lifestyle potential of Bondi Junction, announcing the launch of a 20-storey apartment complex on the corner of Oxford Street and Hollywood Avenue in May. It will be called AQUA to reflect the iconic Sydney Harbour and ocean views achieved by most of the 129 […]

China titan stalks CBD project

AUSTRALIAN casino giants Echo Entertainment and James Packer’s Crown Resorts will face fierce competition for Queensland’s biggest urban and casino project, with Chinese behemoth Greenland Holdings Group bidding for the multi-billion-dollar Queens Wharf redevelopment in the Brisbane central business district. Greenland has applied to the Queensland government to submit a tender, with the group in […]

Vegas Builder Hits the Jackpot

‘New American Home’ Will Be Listed for $5 Million HENDERSON, Nev.—It has been nearly three years since builder Josh Anderson purchased 36 distressed lots just outside of Las Vegas for an average of about $90,000 each, hoping that a bet on troubled land would pay off once the market turned. If all goes well this […]

BROOKFIELD MULTIPLEX QUAY TO BUILDING’S SUCCESS

Brookfield Multiplex has completed construction of the $180 million brand new residential development The Quays on the corner of Docklands Drive and Harbour Esplanade, in Melbourne. The Quays is owned by MAB Corporation and comprises 600 apartments over two residential towers. The South Tower is 32 levels and features 115 one bedroom apartments, 142 two […]

Candy & Candy brand set to conquer global luxury markets

Nick and Christian Candy, the billionaire brothers behind the successful Candy & Candy firm, are planning a global expansion of their luxury brand by investing in top-tier and emerging cities worldwide. The development firm is seeking local partners in each city to build a version of the firm’s prestigious One Hyde Park project in the […]

Wagner family builds major airport in 18 months…now they want to build the $1.7bn road to it too

Not content with spending more than $100 million to build Australia’s first airport in 44 years, BRW Rich Family the Wagners are also bidding to construct the $1.7 billion road project which could make it a serious competitor to Brisbane Airport. With the final rock fill base at Brisbane West Wellcamp Airport set for completion […]

Little’s a big deal in rentals

PAUL Little’s private property company Little Group has made a $60.7 million offer for listed real estate services group Real Estate Corp. The 37c a share cash offer has been recommended by the directors of the once-financially stricken group. The directors together hold 58 per cent, giving Little Group control of the company. Mr Little, […]

Frasers to rethink city site

SYDNEY’S $2 billion Central Park development is set to become a student hub rather than a corporate area. Singaporean developer Frasers Property will reduce its planned office space for the precinct and instead use the space for student accommodation and more residential apartments. In a huge change of plans, it is understood that Frasers and […]

High rents aren’t hip: the contradictions of the ‘creative city’

Recent reports have confirmed what many already know: the cost of housing in Australian cities is among the highest in the world. The growth rate in Australian property prices over the last 15 years is the biggest sustained increase recorded anywhere. Australia also has the highest debt-to-income ratio – encouraged by generous tax incentives to […]

Aussie construction slows

The Australian Industry Group’s Performance of Construction index dropped 2.6 points to 48.2 in January, indicating the building sector is contracting. A reading below 50 points shows the sector is contracting; above indicates expansion. It dints hope that the industry was on a rebound after strong growth in house building propelled the broader construction sector […]

Redrow London set to introduce latest high-end residential project

One of the UK’s leading luxury developers Redrow London is set to unveil its latest high-end residential project in Hong Kong later this month. Located in the northwest of the English capital, the 265-unit Royal Waterside will comprise one-, two- and three-bedroom apartments, with prices starting from GBP265,500 (USD433,349). “With continuing strong demand from property […]

THE COST OF LIVING AT THE TOP IN SYDNEY

It’s not that high compared to other world cities You might think that life at the top in Sydney is expensive, particularly when a soon-to-be completed three-storey penthouse overlooking Hyde Park will be marketed for sale at $15 million. But according to the latest research from McGrath Estate Agents, the cost of the finest penthouses […]

DJs plans sky-high extension

DEPARTMENT store David Jones could spark a race to develop the airspace on a key block in the heart of Sydney by lodging plans to transform its iconic Marke Street propety. David Jones may face compeition from its next-door neighbour, City Tattersalls Club, which has teamed up with Mirvac, with the pair unveiling plans for […]

Archaeology Meets Architecture at V by Crown

The term ‘history in the making’ is no understatement at V by Crown in Parramatta as Sydney-based property developer Crown Group looks to preserve the colonial heritage of one of Sydney’s earliest historical sites. As Parramatta bourgeons into a fast-paced, modern epicenter a piece of the regions rich heritage as the state’s first penal settlement […]

BROOKFIELD MULTIPLEX TO DELIVER NEW INTEGRATED HOSPITAL TO THE BEGA VALLEY

Brookfield Multiplex, a leading global contractor, has been appointed to build the new South East Regional Hospital, delivering a wider range of new and enhanced medical services to the Bega Valley and broader community. The new South East Regional Hospital is located on a 17.5 hectare greenfield site approximately 1.5 kilometers from the Bega CBD, […]

Far East, Grocon file plans for $1.8bn in Melbourne apartments

CHINA’S Far East Consortium and Daniel Grollo’s development company Grocon have filed plans for separate apartment projects with an end value of about $1.8 billion. The plans come as new research from Chicago-based Council on Tall Buildings and Urban Habitat shows Melbourne has the fifth-highest number of 100m-plus residential buildings under construction in the world, […]

Apartment sites snapped up

INTERNATIONAL developers are snapping up apartment development sites in Sydney with booming prices allowing seasoned local players to cash in or ride the market themselves. In the most prominent deal, property billionaire Bob Ell has cashed in on the Chinese investment boom by selling an office tower in Milsons Point on Sydney Harbour for about […]

All eyes on South Sydney

Development sites across South Sydney are the hottest tickets in town with Asian-based and local developers prepared to pay up to garner a site. The limited supply of large development sites in the sought-after area, and general undersupply of housing in the wider Sydney market, are two of the key drivers of demand into 2014. […]

Rich list Grollo family plans succession to prep for Manhattan push

The Grollos are practising succession planning on a global scale. Two years after family scion Daniel Grollo took sole control of the Melbourne-based development and construction giant Grocon, he has handed responsibility for the business to his deputy, Carolyn Viney. Now he’s ready to take Manhattan. “I get the easier job. Carolyn’s got the much […]

Local buyers snap up more than $100M in property in 8 hours at Sydney’s newest waterfront town centre and residential community

First homebuyers, young families, downsizers and retirees are among the first new apartment owners at the vibrant new Woolooware Bay town centre and residential community development in the Sutherland Shire. The project, to be delivered by developers, Bluestone, on land owned by the Cronulla Sutherland Leagues Club, exchanged contracts on more than $100M of property […]

Plots of land for self build proving popular in Turkey

Affordable plots in picturesque locations and with access to improving infrastructure are encouraging an increasing number of British people to create their dream home in Turkey, it is claimed. According to Turkey property specialist Spot Blue International Property, villages around Fethiye, a colourful town on Turkey’s Mediterranean Coast with a historic harbour and mountainous backdrop, […]

Rush to find inner-city apartment sites

Experts say Sydney is still the ‘best game in town’ for development. The rush to find sites for new apartment blocks in Sydney’s inner and middle-ring suburbs is intensifying as developers seek to cash in on strong prices and pent-up demand from buyers. Land for these developments is becoming increasingly sought after, especially if it’s […]

Gehry Partners wins architectural competition for new residential tower in Berlin

Gehry Partners has won an architectural competition for a new 300-unit residential tower in Berlin. The development, which is owned by Hines, will be located at the D4 construction site between Hackescher Markt, Friedrichshain and Berlin-Mitte, adjacent to Hines’ recently developed Die Mitte retail building. As Berlin’s first new high-rise residential development since the ’70s, […]

Warehouse market saw the record completion levels for Moscow region in 2013

As of year end, the warehouse market in Moscow Region has shown rapid growth. New completion volume was the highest since 2009. About 855,000 sq m of warehouse space entered the market in 2013 and the total warehouse supply reached 9.65m sq m, according to the estimates of Jones Lang LaSalle analysts. In Q4 2013 […]

Westfield ready to splash billions as break-up looms

SHOPPING centre giant Westfield Group is ramping up its Australian development pipeline ahead of splitting its Australasian and international businesses into two separately listed property groups. The retail giant is advancing plans for a major overhaul of its Parramatta centre in Sydney’s west and the group has confirmed its commitment to a $1 billion complex […]

Chinese buyers boost sales at Abu Dhabi’s Reem Diamond

Developer Smartwill Asia Limited, a subsidiary of Hong Kong-based firm Chun Wo Development, recently unveiled its inaugural Abu Dhabi residential project Reem Diamond. Sales at the project have been considerably boosted by Chinese investors’ growing appetite for Abu Dhabi-based luxury residential properties, according to Anthony Poon, director of property development at Chun Wo Development. “The […]

Grand designs for southern skyline

SINGAPORE’S Aspial Corporation has unveiled plans to build Australia’s second tallest tower behind the famed Surfers Paradise landmark Q1 Tower. The almost unknown offshore company has snapped up the site in Melbourne’s Southbank district, known as the Australia 108 project, that can accommodate a 312m tower, which will be the city’s tallest. The tower could […]

Crown Group Achieves $150 Million in Sales at V by Crown

The property market is red hot and so too is the performance of property developer Crown Group as V by Crown in Parramatta reaches a momentous $150 million in sales this week. The successful development located in the heart of Parramatta has steam-rolled a pathway to success selling 277 apartments in the 18 months since […]

More investment needed in the UK for retirement properties, it is claimed

Demand for specialist retirement properties is outstripping supply in the UK and developers need to invest in building more for this specialist sector, it is claimed. According to Peter Girling, chairman of Girlings Retirement Rentals, the situation which will worsen unless more is done. The firm’s research indicates that demand is particularly high in London and […]

Singapore’s Aspial unveils plans for 388m Southbank skyscraper

SINGAPORE’S Aspial Corporation has unveiled plans to build Melbourne’s tallest skyscraper after striking a deal to buy a development site in the city’s Southbank district for $42.3 million. The tower will overlook the Yarra River and house upmarket apartments and boutique office space, with the top floor to be made accessible to the public. Melbourne’s […]

Rockefeller’s Firm Plans $2.5 Billion Vietnam Development

Rose Rock Group, a Rockefeller family-backed alternative investment management firm, will help develop a $2.5 billion residential and hotel project on the south-central coast of Vietnam. The Vung Ro Bay development covering 200,000 square meters (2.15 million square feet) will be developed with Vung Ro Petroleum Co., a Tuy Hoa, Phu Yen province-based oil company, […]

German fund swoops on offices

THE €23 billion ($35bn) Union Investment is in exclusive negotiations to buy a new $200 million office development housing Flight Centre’s 2000 Brisbane staff in what will mark the German property fund’s first foray into Australia, according to industry sources. The building, being developed by Brisbane’s Anthony John Group as part of its $590m Southpoint […]

Unit developers circle city sites

APARTMENT developers and property owners are circling fresh sites for residential projects across Sydney as the sector booms, with experts suggesting the market won’t slow down for at least a year. More projects are on the cards for the city’s suburbs with the Nine Network’s long-mooted plans to redevelop its Willoughby campus on the north […]

End of boom opens some doors

FOR most of the time Pene and Harry Dewhirst have been living in the central Queensland resources hub of Gladstone, they haven’t had a hope of being able to afford to buy their first home. Now, as construction of the $70 billion Curtis Island liquefied natural gas plants winds up and new housing stock is […]

Sydney Uni plans massive expansion of student housing

ONE of Sydney University’s residential campuses, St Andrew’s College, could more than double in size over the next decade. The college and university are hoping to cash in on the high demand for student housing in Sydney’s inner west, with St Andrew’s usually having up to five times more applicants than spaces available. The master […]

Starwood Hotels in deal with Singapore real estate group

HOTEL operator Starwood Hotels & Resorts has struck a deal with Singapore-listed real estate group Hiap Hoe to run two hotels at luxury properties it is developing in Melbourne that are worth $700 million. The pair have struck a deal under which the group’s planned hotel in the Docklands will be run as a Four […]