OSK, Multiplex, commence construction Melbourne Square’s newest tower, AURA

Prominent Malaysian developer OSK Property and construction giant Multiplex have officially broken ground on AURA, the $800 million next stage of the $3.5 billion Melbourne Square precinct in Southbank.

The 67-storey tower has already secured more than 140 sales ahead of construction commencing, with completion targeted for late 2029 or early 2030.

AURA will deliver more than 670 apartments across a mix of studios, one, two and three-bedroom residences, alongside penthouses and OSK's Mira Terraces, which offer larger outdoor spaces extending from the main living areas.

Prices currently start from $565,000.

AURA represents the third residential stage of Melbourne Square and continues the longstanding relationship between OSK and Multiplex at the major Southbank precinct.

Multiplex delivered Melbourne Square's first two towers and is currently constructing BLVD, where settlements are set to commence in October 2026 ahead of the tower's full completion in early 2028.

Multiplex Regional Managing Director Ross Snowball said the builder's experience across Melbourne Square would carry into the delivery of AURA.

"Having delivered the first two towers, and with BLVD currently under construction, our team brings the experience, project knowledge and innovative ways of working that come from delivering multiple stages of the development," Snowball said.

"We're proud to be continuing onsite and look forward to working alongside OSK and our delivery partners to bring AURA to life."

AURA will become another major piece of the evolving Melbourne Square precinct, adding around 1,800 sqm of retail space to the community.

The precinct already has a 4,300 sqm full-line Woolworths, BWS, Pacific Asian Grocer, café, restaurant and Nido childcare centre, alongside the 3,745 sqm Kennedy Park.

OSK Holdings Executive Chairman Tan Sri Ong Leong Huat said the commencement of AURA represented the next phase in the precinct's evolution.

"AURA is not just another tower. It represents the next chapter in the Melbourne Square story, continuing our vision of creating a connected and thriving community in the heart of Southbank," Ong said.

AURA has been conceived as a Japanese-inspired retreat, with its design and extensive resident amenity centred around wellness, tranquillity and the connection between indoor and outdoor spaces.

Its position will also see the tower act as a gateway between Melbourne Square and the city, with views spanning the Royal Botanic Gardens, Port Phillip Bay and Albert Park Lake to the east, and Kennedy Park and Hoff Boulevard to the west.

Five floors of resident amenity will be spread throughout the tower.

The first major collection, the AURA Club and Gardens on level seven, will be accessible to all residents and feature a 25-metre indoor swimming pool and adjoining sun terrace.

There will also be a fully equipped gym, yoga room and Reformer Pilates area, hot and cold plunge pools, sauna and steam rooms, along with dining, lounge and games spaces.

A dedicated music room will double as a podcast studio.

Outside, the AURA Gardens will continue the project's Japanese influence with a teahouse set among landscaped lawns and gardens, complemented by barbecue, dining and lounge areas and a firepit.

A golf simulator, which has proved one of the more popular amenities across the existing Melbourne Square towers, will also feature at AURA, along with a substantial co-working space.

Higher in the tower, the Meridian Club across levels 49 and 50 has been designed as a more social offering, with lounges, a bar and private dining rooms overlooking Southbank, the Royal Botanic Gardens and Melbourne's sporting precinct toward the Dandenong Ranges.

The Cumulus Club on levels 66 and 67 will be reserved for buyers of AURA's premium residences.

The private club will feature dining and lounge spaces positioned to capture sunrise and sunset views, treatment rooms, a private soak bath and dedicated yoga, meditation and sound rooms.

At the top of the tower, a botanical retreat featuring a Wollemi pine will crown the development.

OSK Property Australia Project Director Andrew Hutchinson said considerable attention had been paid to how residents would use the building beyond their individual apartments.

"Since day one, our large project team has been focused on taking AURA to another level to maximise contentment and enjoyment for our residents," Hutchinson said.

"Our aim is to create an environment and lifestyle where a resident can live their best life without ever leaving the Melbourne Square precinct."

Hutchinson said the response from buyers had given OSK confidence in the direction of the project.

"It has been extremely satisfying to see the overwhelming acceptance of the AURA product by the market and to now be starting construction."

OSK Property Australia Sales and Marketing Director Michael Koschar said feedback from buyers in Melbourne Square's earlier stages had played a role in shaping AURA's amenity offering.

"We have consistently heard from stage one and two buyers that they hold Melbourne Square's resident amenities in very high regard, so we have taken this to a whole new level at AURA with five floors of dedicated amenity for our buyers," Koschar said.

"The idea was to create beautiful spaces that encourage residents to live and enjoy life beyond the confines of their own residence, and to create a sense of community within the building."

The project has already collected several accolades ahead of construction.

AURA won Best Luxury Apartment Development (Victoria), Best Wellness Residential Development, Best Apartment Interior Design and Best Apartment Development (Australia) at the 2026 PropertyGuru Asia Property Awards in September, while OSK Property was named Best Lifestyle Apartment Developer.

OSK Property Australia CEO Chong Boon Woon said breaking ground represented another major milestone for Melbourne Square.

"We're incredibly proud to be starting works across another exceptional residential tower in Southbank, and we look forward to adding to the urban fabric that makes this part of the city so unique."

City of Melbourne Deputy Lord Mayor Roshena Campbell described the $800 million project as a significant vote of confidence in the city.

"With more than 670 apartments and mixed-use facilities spread across 67 storeys, this is one of the biggest residential developments currently underway in the City of Melbourne," Campbell said.

"I am delighted that construction is getting underway on such a landmark project."