Westfield Exits US as Simon Group Doubles Down
Shopping mall giant Westfield is aiming to wind down operations in the US, three years after it was sold to French firm Unibail-Rodamco. Weighed down by a reported 26 per cent slump in net rental income to €1.79 billion (A$2.8 billion) across 2020 as well as recurring net profit drop of 40 per cent to €1.06 billion (A$1.6 billion), the company will now downsize into a …
‘First of its Kind’: NSW Apartment Fast-Track Plan Revealed
Unwilling to wait for government action, the former NSW housing commissioner has unveiled a new initiative to fast-track under-$60m housing projects...
Green Light for $850m Triple Tower Precinct at Brisbane’s …
Lauded as a cityshaper for the inner north, the urban village just down from the creek’s famed namesake pub will rise to 28 storeys…
Singapore Hotel Points Way to Future of Densification
Working with its scarcity of land and tight sustainability targets, developers in the Lion City have lessons the world can learn from…
Five of the Biggest Projects Under Way This Year
Location: Sarina, Queensland Project value: $1.56 billion Developers: Squadron Energy, Stanwell Corporation Builders: Yurika, CATCON, Goldwind Australia Architect: AECOM Australia Construction start: November, 2023 Construction end: Not specified 50 Quay Street. Cedar Pacific and Sumitomo Forestry have partnered to develop a $1.2-billion build-to-rent portfolio across Australia and New Zealand.
Lendlease $1.3bn Sell-Off Clears Final Hurdle
After nearly a year of waiting, Lendlease has the go-ahead for a $1.3-billion deal to offload a dozen masterplanned communities. Approval from the Foreign Investment Review Board this week marks the final regulatory hurdle for the major acquisition by fellow developer Stockland.
Builder Walks Off Gold Coast Tower Project After Pay Dispute
The developer and builder were unable to come to an agreement, and trouble resurfaced in early September, with Tomkins claiming that the Heran Group locked the gates to the Midwater site on September 3 while workers were on site, which resulted in the …
Contentious Cairns Tourist Park Finally Greenlit
Halpin said the project would create 400 permanent positions as well as 250 jobs during construction. “We’ve had this vision for a long time and made a commitment to the community that we’d create something really special at the old Paradise Palms site after the closure of the golf course,” Halpin said.
Industry Cautiously Welcomes NSW Planning Sidestep
Urbis director of planning Stephen White said the reforms were a positive step towards addressing the housing crisis. “The questions are around whether it’s likely to be oversubscribed,” White told The Urban Developer. “If history tells us anything it’s that the interest from industry will far exceed the capability of the government to process them all through the initiative.
Iglu Approved for More Student Beds in Sydney’s South
The post-Covid opening of international borders and return of foreign students—particularly direct flights from China—has reignited the purpose-built student accommodation sector. In July last year Iglu, backed by the Singapore sovereign wealth fund, GIC, lodged joint plans with the University of NSW for a huge student village, also along Anzac Parade.