Kokoda appoints builder for $1.5 billion Teneriffe Banks waterfront precinct
Kokoda Property Group has announced the Sydney-based Versatile Construction as the builder for its landmark $1.5 billion Teneriffe Banks precinct.
Construction of the 17,612 sqm site is scheduled to commence in December 2025 and is expected to be delivered in stages from 2028. Once complete, Teneriffe Banks will comprise 212 residences across four architecturally distinct buildings, alongside Brisbane’s first Kimpton Hotel, extensive retail, hospitality, and wellness amenities.
Kokoda Property Group Founder and Managing Director, Mark Stevens, said appointing Versatile Construction marks a significant milestone for Teneriffe Banks.
“Partnering with Versatile Construction gives us confidence in delivering a precinct that sets a new benchmark for luxury living, curated experiences and vibrant riverfront activation," Stevens said.
"Together, we will bring the vision for Teneriffe Banks to life, creating a destination that residents and visitors will enjoy for generations."
Throughout the construction phase, more than 2,000 jobs will be created, supporting hundreds of local contractors and suppliers.
Marco Fahd, Chairman & CEO at Versatile Group, said the company is looking forward to expanding their footprint in the state, taking on their inaugural project in Brisbane.
"We are proud of the unwavering commitment our team of experts have to quality and certainty in delivery and are excited to work with Kokoda to bring their vision for this unique project to life," Fahd says.
Sales reached $285 million on the launch of Teneriffe Banks, with sales momentum continuing to "exceed all expectations."
Stevens says the overwhelming response from buyers validated the group’s vision for Teneriffe Banks.
“The demand for a luxury product in this enclave has been extraordinary, we’ve never seen anything like it before. It reinforces everything we’re doing around quality, design, and creating genuine lifestyle precincts. Buyers are recognising the enduring value of Brisbane’s riverfront and are responding to the opportunity to live within a world-class destination that celebrates both place and lifestyle.”
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
