Deicorp approved for $1.8 billion Kings Bay Village, Five Dock precinct
Sydney developer Deicorp has received planning approval from the Department of Planning, Housing and Infrastructure for Kings Bay Village, a $1.8 billion mixed-use precinct set to reimagine three hectares of underutilised land in Five Dock.
The State Significant Development will breathe new life into the Parramatta Road Corridor, delivering 1,185 new homes — including 218 affordable dwellings for essential workers — along with 6,500 sqm of public open space, and 14,700 sqm of vibrant retail and commercial offerings.
Designed by award-winning architects Turner, Kings Bay Village is inspired by the area’s industrial legacy, blending classic brick facades and distinctive rooflines with modern urban form.
The precinct will feature six buildings of varying heights that offer views of Kings Bay, Iron Cove and the Sydney CBD.
Positioned just minutes from the future Five Dock Metro Station, Kings Bay Village is the first major urban renewal project supporting the NSW Government and City of Canada Bay Council’s bold vision for the Parramatta Road Corridor, and will contribute over 23 per cent of the Council’s 2029 housing target of 5,000 new homes.
In addition, Deicorp is committing more than $80 million to fund upgrades to local infrastructure, including more than $10 million public domain works, delivering new pedestrian laneways, an activated streetscape, and a 2,290 sqm landscaped park and civic plaza — designed to become the social heart of the community.
Deicorp Chairman, Fouad Deiri OAM, said it was an honour to have Kings Bay Village endorsed as a State Significant Development.
“This project represents everything Deicorp stands for — considered design, community impact, and delivering homes where they’re needed most," Deiri said.
“We’re proud to be the first major development to support the NSW Government and City of Canada Bay’s vision for the Parramatta Road Corridor, and by delivering new parks, pedestrian links and plazas, we will create lasting value not just for residents, but for the entire Five Dock community."
The Parramatta Road Corridor is set to play a vital role in Sydney’s future, serving as a central artery that links the city’s two major CBDs — Sydney in the east and Parramatta in the west.
As one of Sydney’s most active developers, Deicorp’s pipeline continues to grow, with around $3 billion worth of projects set to launch to market across the remainder of the year. To date, Deicorp has designed, developed and delivered over 12,000 apartments across 40 Sydney suburbs.
Joel Robinson
Joel Robinson is the Editor in Chief at Apartments.com.au, where he leads the editorial team and oversees the country’s most comprehensive news coverage dedicated to the off the plan property market. With more than a decade of experience in residential real estate journalism, Joel brings deep insight into Australia’s evolving development landscape.
He holds a degree in Business Management with a major in Journalism from Leeds Beckett University in the UK, and has developed a particular expertise in off the plan apartment space. Joel’s editorial lens spans the full lifecycle of a project—from site acquisition and planning approvals through to new launches, construction completions, and final sell-out—delivering trusted, buyer-focused content that supports informed decision-making across the property journey
