<a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA</a>&nbsp;doesn’t just rise over North Sydney, it redefines it. Now in its final release, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>’s $1 billion architectural statement is not just complete, but already reshaping the way people live, connect and dine in this rapidly evolving harbourside CBD.

Positioned beside the new Victoria Cross Metro Station and boasting panoramic views across Sydney Harbour, Aura’s 386 residences crown a mixed-use precinct designed with unapologetic ambition. The curvaceous sandstone-inspired form by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, paired with <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richard Stanisich</a>’s understated interiors, sets a design tone that’s both monumental and intimate.

At its peak, literally, the two penthouses so spectacular they command their own names; La Davina and Il Magnate. The residents are spread across the&nbsp;entire top floor, offering what many consider the most refined residences ever built in North Sydney. Designed by Richard and Kirsten Stanisich, each four-bedroom home is meticulously crafted to evoke calm, space, and permanence.&nbsp;

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/VB70993aG-I?si=adRBlXQliYmYvaSz" title="YouTube video player" width="560"></iframe>

The kitchens are fully wrapped in natural stone, with integrated Gaggenau appliances, Sub-Zero fridges, concealed sculleries, and even a zip hydro tap delivering boiling, chilled and sparkling water on demand. A linear stone fireplace anchors the open-plan living space, dividing lounge and dining zones with quiet sophistication.&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292861]

The master suite, meanwhile, feels more like a private retreat, complete with a custom stone makeup vanity, walk-through dressing area, and spa-inspired ensuite with heated stone floors, a freestanding Villeroy &amp; Boch tub, and timber veneer joinery throughout.

Kirsten Stanisich, Director of Richards Stanisich, said the penthouses offer incredible scale reflective of a single residence.&nbsp;

“We sought inspiration for these remarkable residences from the classic top-floor Parisian apartment," Stanisich said.

"We looked at what made these French apartments so elegant and found it really came down to their scale. It was ultimately this generosity of space that we used for the AURA penthouses, where we’ve designed considered rooms with deep large-scale proportions."

[smartcode_project:default project_id=30959 project_image_fid=310337]

Everyday living at Aura feels no less elevated. A dedicated 24-hour concierge, Technogym fitness centre, sky dining terraces, and a resort-style pool serve a lifestyle designed to rival luxury hotels.

At street level, Aqualand’s own hospitality arm, Etymon Projects, curates a precinct of LA-style bistros, Japanese fine dining, and local wine bars, all seamlessly integrated into the building’s sculptural podium.

[smartcode_project:default project_id=30959 project_image_fid=310337]

This final chapter, aptly dubbed The Finale, is more than a sales phase, it’s an invitation to two of the most exclusive apartments ever to be built in North Sydney.

With limited residences remaining, buyers can access curated incentives including stamp duty rebates, rental guarantees, legal fee coverage, and even $20,000 towards dining within the precinct.

From generous one-bedders to The Icons, two singular penthouses priced well into prestige territory, Aura’s offerings reflect a scale and calibre rarely seen in urban Sydney. And with move-in now immediate, this is no longer a promise of future luxury. It’s happening.

[smartcode_project_cta:default project_id=30959]

Staff Writer

Aqualand unveils penthouse collection at AURA By Aqualand in North Sydney

There’s no sign of the development wave that began several years ago slowing along Old Burleigh Road.

Around 10 new apartment developments are either underway or preparing to launch along the 800-metre strip stretching from the southern edge of Surfers Paradise towards the heart of Broadbeach, collectively adding just shy of 1,000 new apartments to the beachfront corridor.

The latest plans propose a further 30 apartments to replace an original six-unit walk-up on a 658 sqm site at <a href="https://www.apartments.com.au/new-apartments/20a-old-burleigh-road-surfers-paradise-qld-4217">20A Old Burleigh Road</a>. The 14-storey building has been designed by Ferro Chow Architecture, which recently joined the Elevation Architecture Group.

The developer behind the project is Geoffrey Booth, whose Future Liv In has focused on delivering rental accommodation across regional Australia.

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="99d393e7-d404-43bc-80cb-6255c39b83d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.44%E2%80%AFPM.png?VersionId=ZFT8F3mOny4M4ut.kFF3woC9WH9oR5gT" />

The Old Burleigh Road development will comprise 18 two-bedroom apartments, 10 three-bedroom apartments, and a single four-bedroom residence occupying the entirety of level 12. Above, the building will be crowned by a two-storey penthouse with its own private lift, several multi-purpose rooms, and two rooftop terraces — one featuring a puppy lawn and spa, the other offering a private swimming pool, sunset deck, and built-in barbecue.

Resident amenities will be located on the second level and include a pool with adjoining spa, cabana, and pool deck, along with an indoor residents’ lounge featuring a bar and an alfresco barbecue kitchen.

In the architectural statement submitted by Elevation Architecture, the project is referred to as “UMI”, which the firm says has been “inspired by the majestic hinterlands and shaped by the coastal climate”.

“It is an exemplar of how community living can still feel at one with nature, breathable, and deeply connected in place,” the architects noted.

They added that the site benefits from established building separation to adjoining towers, helping to maintain privacy, sunlight, and residential amenity, while still offering direct beach access within an urban setting.

“Drawing inspiration from the Gold Coast hinterlands and the region’s natural landscape, the podium and tower detail highlights the contrasting elements of treetop green and cliff-face peach. The vibrant texture and materiality shaped by time has a richness in depth and character.”

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="b3d6c923-a0ab-4d74-86da-177313447e8e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.38%E2%80%AFPM.png?VersionId=i2fygmoVQM6hWpbATTAW_yTitoMTrnI1" />

Old Burleigh Road has become a hotspot for developers, with the three-tower Jewel development kickstarting a wave of projects up and down the strip when it was completed in 2020.

Currently under construction and approaching completion is <a href="https://www.apartments.com.au/new-apartments/faro-broadbeach-123-old-burleigh-road-broadbeach-qld-4218">FARO Broadbeach</a> by 5Point and Bottega, 21 large-scale half- and full-floor apartments. 5Point is also behind the recently launched <a href="https://www.apartments.com.au/new-apartments/lumara-108-old-burleigh-road-broadbeach-qld-4218">Lumara</a>, another 37 apartments to add to the pipeline.

Luxury builder GRAYA is progressing construction on <a href="https://www.apartments.com.au/new-apartments/enclave-by-graya-118-old-burleigh-road-broadbeach-qld-4218">Enclave</a>, its first Gold Coast tower, while Polycell remains the most active developer on the street. They are preparing to launch <a href="https://www.apartments.com.au/new-apartments/sandpiper-broadbeach-155-old-burleigh-road-broadbeach-qld-4218">Sandpiper</a>, a 50-storey redevelopment of the former Sandpiper Holiday Resort that will deliver around 200 apartments alongside extensive resident amenity. The group also has another 130-apartment project approved nearby, as does <a href="https://www.apartments.com.au/news/qld/dvb-approved-for-second-broadbeach-apartment-development">Dean Gallagher’s DVB Projects</a>.

Joel Robinson

First look: Old Burleigh Road apartment development wave continues

Sunshine Coast developer Habitat Development Group continues to position itself as one of the region’s largest new apartment developers.

Its latest project is in Maroochydore, where it is currently delivering <a href="https://www.apartments.com.au/new-apartments/the-millwell-2-millwell-road-east-maroochydore-qld-4558">The Millwell</a>. Adjacent to the new 53-hectare Maroochydore City Centre project, Habitat is planning a further 180 apartments on a 3,468 sqm site at <a href="https://www.apartments.com.au/new-apartments/132-136-aerodrome-road-maroochydore-qld-4558">132–136 Aerodrome Road</a>. The site was purchased with approval for a smaller 13-storey, 103-unit building.

Habitat will demolish the two existing retail centres, currently home to the Salvation Army Family Store and Neighbours Aid, and replace them with an 18-storey building featuring the significant rooftop amenities that have become a hallmark of Habitat developments in recent years. The rooftop will include both indoor and outdoor spaces, anchored by an infinity swimming pool.

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="ad434d07-666b-4614-b33e-530ad6a2d261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.33%E2%80%AFAM.png?VersionId=7pyLsPWKQuwv0us3_v.9DmbzEc2VZe9Z" />

There will be a mix of one- to four-bedroom apartments.

The Development Assessment Report, submitted to the Sunshine Coast Council, says the proposal&nbsp;is not speculative, but a response to both zoning intent and demonstrated housing need.

“The proposed development represents an appropriate and logical intensification of the site, consistent with the planning framework and the intended urban outcomes for the locality.”

Across the Sunshine Coast, councils are increasingly scrutinising not just height or yield, but whether new projects genuinely align with the long-term structure plans underpinning growth corridors. The&nbsp;ASTP Planning Report&nbsp;reinforces the approach, noting that the project has been shaped around site responsiveness rather than generic typology.

“The development has been designed to respond to the physical constraints and opportunities of the site, while delivering a high-quality residential outcome that integrates with the existing and emerging urban context.”

<img alt="Habitat" data-entity-type="file" data-entity-uuid="3a03fc54-4ca5-4868-88d0-eeced70604e2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.28%E2%80%AFAM.png?VersionId=1pkK3lJrrZjkghTLBReM2zatcas4Nc4B" />

In mid-2025, Habitat, a developer that also builds its own projects, commenced construction on The Millwell, located just over one kilometre from the new proposal. The Millwell will comprise more than 200 apartments across two eight-storey buildings.

Habitat also has two projects on Lake Kawana in Birtinya: <a href="https://www.apartments.com.au/new-apartments/st-clair-birtinya-930-931-waterside-retreat-birtinya-qld-4575">St Clair</a>, a 200-unit, two-building development launched last year and set to welcome buyers this year; and Esperance, a 175-apartment project currently progressing through the development approval process.

First look: Habitat continues to bolster Sunshine Coast apartment pipeline with Maroochydore development plans

John Camilleri, the breeder of legendary racehorse Winx, is set to deliver a landmark two-tower beachfront development that would redefine the Surfers Paradise skyline.

Camilleri, who spent around $100 million acquiring development sites across the Gold Coast in 2025, has lodged plans for two new towers on the dress-circle stretch of Garfield Terrace, just two days before Christmas.

In assembling the site, Camilleri's Celestino Developments has effectively acquired the 71 Garfield project by Iris Capital and AALTO by Weiya Holdings, creating an unrivalled <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">4,000 sqm beachfront holding along Garfield Terrace</a>.

The proposal comprises two residential towers of 55 and 48 storeys, linked by a dramatic skybridge which will home “exclusive VIP and wellness amenities.”

In total, the development would deliver 275 two-, three- and four-bedroom apartments across the two towers, rising above a shared landscaped podium that incorporates a central green space and a beachfront swimming pool stretching more than 90 metres.

<img alt="DBI" data-entity-type="file" data-entity-uuid="097900f3-6bef-4919-b168-b08f2f762876" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.37.58%E2%80%AFAM.png?VersionId=et0SpmcvaPPVrexI_zWi46BVFtZBxAzx" />

Architecture firm DBI, in documents submitted to Gold Coast City Council, said the project at 63–79 Garfield Terrace would “establish a new benchmark for beachfront residential living on the Gold Coast.”

"The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience. Together, the 48-storey North Tower and 55-storey South Tower form a distinctive twin-tower composition whose dynamic silhouette will make a significant contribution to the Surfers Paradise skyline."

DBI said the architectural language draws inspiration from the fluidity and movement of the coastal landscape.

"Each tower is defined by organic, curving forms and continuous balcony ribbons that wrap the buildings, providing deep shading, enhancing environmental performance, and reinforcing the rhythmic, sculptural expression of the façade. These balcony forms also reduce the apparent mass of the towers while maintaining strong visual continuity from podium to summit. Sculpted reflective downturns run along the western spine of both towers, shifting and lifting as they extend upwards to frame service zones and open eastward to maximise ocean views."

<img alt="Garfield" data-entity-type="file" data-entity-uuid="a2a00ce3-a0e9-45d6-b4b5-b7baed592ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.53.40%E2%80%AFAM.png?VersionId=DnruWV1dhLrtXOeElwekyd7vPq2gw55t" />

The project’s most striking feature is the skybridge at level 45, which will house executive lounges, formal dining spaces, wellness facilities and panoramic ocean-facing views.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI added.

The podium will host an extensive suite of recreational amenities, including resident lounges, private dining rooms, a large open green lawn, and the signature 90-metre pool stretching along the beachfront. The pool is divided into lap, lounge and children’s zones.

The southern end of the podium will accommodate additional wellness facilities, including a gymnasium, plunge pools, treatment rooms and a dedicated yoga lawn.

<img alt="Garfield" data-entity-type="file" data-entity-uuid="ee1b4f25-231f-4804-83b1-a573a1481962" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.55.47%E2%80%AFAM.png?VersionId=zObzIA3D5w7EwqPsHjr2pKrA4vbB28zL" />

There will be 127 apartments in the North Tower and 148 in the South Tower, including multiple penthouses, while the Enderley Avenue and Oceanway frontages will be activated by a series of food and beverage tenancies.

Camilleri emerged as the most active site acquirer on the Gold Coast in 2025. He spent just over $30 million acquiring Pacific Point, a 10-level Surfers Paradise apartment block and an adjoining three-level duplex, from fellow racing identity and Aquis billionaire Tony Fung. Plans are now underway for a 93-apartment, 40-storey tower on the 1,682 sqm site.

He also paid $53.65 million for the 1,500 sqm Garfield Terrace site previously marketed as AALTO by Weiya Holdings, before acquiring the adjoining parcel from hotel billionaire Sam Arnaout’s Iris Capital, the developer behind V&amp;A Broadbeach.

First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge

The Melbourne-based HLA Group is the latest developer to expand into South East Queensland, lodging plans for a unique mixed-use short-term accomodation and apartment building in Taringa, with the building design inspired by the Glasswing Butterfly.

The development application for 10 Morrow Street seeks approval for a total of 232 dwellings, comprising 116 residential apartments and 116 short-stay accommodation units. The build-to-sell residential component is made up of 31 one-bedroom apartments, 67 two-bedroom apartments, 17 three-bedroom apartments, and a single four-bedroom apartment, offering a diverse mix aimed at singles, couples, families, and downsizers.

<img alt="Taringa" data-entity-type="file" data-entity-uuid="33913cd4-9839-4456-b325-d35b3f8b4694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.40.26%E2%80%AFPM.png?VersionId=sLvc7jUrYzDwqPDZBPrXTosKHDSp.qrt" />

Designed by Ellivo Architects, the tower takes strong inspiration from nature, with the architectural language driven by one of Queensland’s most delicate species. As described in the planning documents submitted to Brisbane City Council, Ellivo Architects state the design is “inspired by the elegance of the Glasswing butterfly," and mirrors the graceful sweep of its wings, a form that feels light, fluid, and alive.

“Lush subtropical greenery is throughtfull woven throughout, transforming the building into a sanctuary in the heart of the city.”

The proposal positions the building as more than a conventional residential tower, with Ellivo Architects describing 10 Morrow Street as “an urban oasis that blends short term accomodation with residential living. A destination for rest, relaxation, and renewal.”

<img alt="Taringa" data-entity-type="file" data-entity-uuid="84e9a0ff-464e-4973-bffe-5d5a8fe9f087" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.40.32%E2%80%AFPM.png?VersionId=dhX9eVgUaQE2TvCzJPhF8N8_hzYSKpyK" />

Formally, the building’s massing and floorplate are directly shaped by its butterfly inspiration. Ellivo explain that, “adopting the wings of the Glasswing Butterfly, the tower's plan is divided into four distinct quadrants, each shaped to mirror the wing's segmented geometry and taking the slender ‘veins’ up the facade of the tower.”

"This approach results in a sculpted tower form with articulated façades and a strong vertical expression."

<img alt="Taringa" data-entity-type="file" data-entity-uuid="5947011d-ff6c-4a57-bdc1-9072a472a79c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.40.29%E2%80%AFPM.png?VersionId=nnGqd4WCZM8AOJZY.c3u49BO4LurKRhb" />

The Assessment Report by Human Habitats said the 19-storey tower capitalises on its strategic connectivity and prominence at the entrance of Taringa Village and adjoining the Taringa Station.

"The proposal offers a significant revitalisation of the subject site that integrates architectural excellence, innovation, and sustainable design to directly address long-standing connectivity and safety challenges, housing supply , and diversity together with enhanced streetscape activation and convenient access to major transport corridors."

HLA Group Australia is registered to South Yarra and is currently delivering Adamson No.5, just 15 luxury apartments that start from around $2 million.&nbsp;

The Butterfly Effect: Glasswing butterfly inspires Taringa apartment development

global

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Australian Architects are heralded as proudly ambitious in preserving Australia's heritage, honouring national history and providing our cities with activated, engaging and community buildings and spaces that are socially and environmentally beneficial. With the rise of 'starchitects' and landmark designs, Australian architects are more approachable than ever, entering global design competitions, catching the eyes of global developers and governments to influence roles in cities abroad.

This is a short celebrated list of notable Australian Architects and their realised or planned projects abroad

<h2>FUNAN, SINGAPORE - <a href="/architects/woods-bagot">WOODS BAGOT</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/woodsbagot.com_.jpg" rel="gallery-all" title=" Image of Woods Bagot’s Funan in Singapore."><img alt="" class="image-article-full-width-580px" height="454" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/woodsbagot.com_.jpg?itok=nvoyaFfM" title=" Image of Woods Bagot’s Funan in Singapore." width="580"></a>

<figcaption>Image of Woods Bagot’s Funan in Singapore.</figcaption></figure>Representing a new era of mixed use and retail, Woods Bagot’s Funan in Singapore is an exemplary piece of architecture that is true to form in that it blends worlds and acts as a civic hub. 
The design acknowledges the rise of online shopping and maximises its engagement for tech savvy shoppers offering more of a destination than a retail precinct.  
Spaces connect vertically and laterally to provide an integrated environment that blurs traditional zones to offer an ecosystem of lifestyle activities under one roof.

Funan is a connected development which responds to a socially and environmentally conscious world with communal spaces, urban rooftop farms and gardens and vertical wall plants. 
The flexible ventilation of the ground floor allows 24 hour accessibility to pedestrians and cyclists, further improving upon the vibrant streetscape and its engagement to people. The building’s design caters to a new generation of consumers who yearn for interactive, connected and collaborative environments that reflect their authentic passions and tastes.

<h2> </h2>

<h2>MERDEKA PNB118, KUALA LUMPUR - <a href="/architects/fk-australia">FENDER KATSALIDIS</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fender_katsalidis.jpg" rel="gallery-all" title=" Rendering of Fender Katsalidis’ Merdeka PNB118, Kuala Lumpur, Malaysia."><img alt="" class="image-article-full-width-580px" height="1106" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/fender_katsalidis.jpg?itok=fag5H25M" title=" Rendering of Fender Katsalidis’ Merdeka PNB118, Kuala Lumpur, Malaysia." width="580"></a>

<figcaption>Rendering of Fender Katsalidis’ Merdeka PNB118, Kuala Lumpur, Malaysia.</figcaption></figure>Australian architecture firm Fender Katsalidis has designed the upcoming Merdeka PNB118 skyscraper in Kuala Lumpur, standing at 644 metres tall with 118 floors of office, hotel, topped by an observation deck and restaurant. 
The crystalline tower will be the centrepiece of Kuala Lumpur’s Merdeka site, where Malaysian independence was declared in 1957. 
The tower’s design is an expression of its structural pathways, resulting in geometric patterns in the facade which are reminiscent of traditional Malaysian arts and crafts.

Cementing itself as one of the World’s top 10 tallest buildings when completed, the design of the tower is influenced through Fender’s <a href="/news/urban-com-au-profiles-10-of-melbourne-s-top-luxury-apartments">Eureka Tower</a> and how its design form represents a piece of Victorian history. The Malaysian capital wanted a landmark tower that represents in form its cultural history and significance in this same way. The project will preserve two heritage buildings on the site including the Merdeka Stadium and Negara National Stadium.

The podium interior has a soaring, dramatic atrium fit with stone surfaces which will include the lower lobby access at one end and office and retail lobby access at another. 
The retail component will offer over 300 stores of upmarket to high end clothing. 
The project in collaboration with local architect, RSP Architects and landscape architects Sasaki Associates has an expected completion in 2020.

 

CAPITAMALL 1818, WUHAN - <a href="/architects/the-buchan-group">BUCHAN GROUP</a>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/buchan_group.jpg" rel="gallery-all" title=" CapitaMall 1818, Wuhan, China. Image by Buchan Group."><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/buchan_group.jpg?itok=K5ocii-T" title=" CapitaMall 1818, Wuhan, China. Image by Buchan Group." width="580"></a>

<figcaption>CapitaMall 1818, Wuhan, China. Image by Buchan Group.</figcaption></figure>The Buchan Group delivers a revitalised shopping interior, exterior facade and graphics for the CapitaMall in Wuhan’s downtown. Located along the prosperous Zhongshan, the high end mall features 8 levels of retail, entertainment and dining and is one of seven CapitaLand developments in the city.

It was important that through this revitalisation of the downtown mall, that all 10 million of Wuhan’s residents feel represented with a design reflecting the vast cultural catchment with a rich past, whilst still responding to the innovative retail future and its trends.

The podium creates a vibrant streetscape amongst the integrated office and residential mixed use precinct and ensures that the buildings perform a civic function, providing a meeting place and community engagement for locals. 
The responsibility to respect Wuhan’s deep cultural history was felt by the Buchan Group as well as the need to embrace a modern urban community with aspirations to adapt to recent retail trends.

 

NATIONAL MARITIME MUSEUM OF CHINA, TIANJIN - <a href="/architects/cox-architecture">COX ARCHITECTURE</a>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/coxarchitecture.com_.jpg" rel="gallery-all" title=" National Maritime Museum of China in Tianjin. Rendering by coxarchitecture.com"><img alt="" class="image-article-full-width-580px" height="363" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/coxarchitecture.com_.jpg?itok=suUJPtDm" title=" National Maritime Museum of China in Tianjin. Rendering by coxarchitecture.com" width="580"></a>

<figcaption>National Maritime Museum of China in Tianjin. Rendering by coxarchitecture.com</figcaption></figure>The Binhai New Area is an important economic zone as Tianjin expands as an important international port, with over 2000 high tech companies developed in the area and urban residential spaces built upon reclaimed land. 
The National Maritime Museum of China by Cox Architecture whose design won the international competition for China’s first maritime museum, sits in the Binhai New Area of Tianjin. The Museum covers 150,000 square metres of space and includes three levels, a large exhibition hall and an observation tower which also acts as the Museum’s energy plant.

One of the main details of importance for the new museum was its connection and relation to the water as much of Chinese cities developed out of the canals or by the water’s edge. 
Not much is known of the country’s Maritime past, so for Cox Architecture, designing a space of such importance had to reflect a strong identity.

As the Chinese Government collected elements to fill the Museum, the designs of the structure had to evolve and adapt to their findings. Cox Architecture needed to provide a space to raise public awareness and develop into an educational base for scientific research and environmental protection.

Opened in 2019, the National Maritime Museum of China will be free for visitors and include six divided sections with an enriched array of themes arranging from Culture and History, Marine Ecology and Environment, Science Education and interactive programs as well as shopping, restaurants, cafes, cinema and gardens surrounding and connecting to the waterfront.

Awards: 
World Future Project of the Year, World Architecture Festival Singapore 2013 
Future Projects Competition entries Category Winner, World Architecture Festival Singapore 2013

<h2>KAOHSIUNG EXHIBITION CENTRE, KAOHSIUNG TAIWAN - <a href="/architects/cox-architecture">COX ARCHITECTURE</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/coxarchitecture.comm_.jpg" rel="gallery-all" title="Kaohsiung Exhibition Centre, Kaohsiung Taiwan. Image by coxarchitecture.com"><img alt="" class="image-article-full-width-580px" height="305" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/coxarchitecture.comm_.jpg?itok=ldjNWKQx" title="Kaohsiung Exhibition Centre, Kaohsiung Taiwan. Image by coxarchitecture.com" width="580"></a>

<figcaption>Kaohsiung Exhibition Centre, Kaohsiung Taiwan. Image by coxarchitecture.com</figcaption></figure>Another project from Cox Architecture won through an international design competition is Kaohsiung’s first public harbour development, the Kaohsiung Exhibition Centre. 
Linking the city to the waterfront via pedestrian access was key to the design of the centre. 
Designed as a hybrid facility, the building comprises of exhibition and convention spaces which are flexible to host a large variety of events and simultaneous meetings. 
The enclosed roof utilises an alternating shell structural system to which substantially reduces steel tonnage and successfully resists the strong harbour winds and seismic forces. 
Skylights allow the building to respond to its natural environment with the ability to fill the spaces with light and ventilation which improves the overall sustainability.  
It was important to Cox Architecture to design a structure that responds to its surroundings and is an expression of the Taiwanese people and was a conscious and thoughtful process.  
Awards: 
Excellence Award, Chinese Institute of Engineers 2014.

 
 

 

 

 

 
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Nick Dante

Australian Architects making Global waves

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GUEST OBSERVATION
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<li>At the end of 2017, the value of the world’s real estate reached US$280.6 trillion, the highest figure we’ve ever recorded and an annual increase of 6.2%. Residential real estate accounted for the largest share ($US220.6 trillion) of that huge figure, with commercial real estate (US$33.3 trillion) and agricultural and forestry real estate ($US27.1 trillion) making up the rest. 
</li>
<li>By any measure, real estate is by far the most significant store of wealth, representing more than 3.5 times the total global GDP. Global real estate universe in comparison <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/7/17/global%201.jpg" alt="" style="font-size: 12.16px;">
</li>
<li>Most residential real-estate value is contained in the mature markets of North America and Europe, with more than 44% of value belonging to just 17% of the global population. Global distribution of real estate value versus population <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/7/17/global%202.jpg" alt="" style="font-size: 12.16px;">
</li>
<li>China now accounts for the largest share of global residential value, thanks to national house price growth (up 16%) and a rapid programme of housebuilding. Emerging markets, especially in Asia, are also experiencing fast growth. 
</li>
<li>The share of commercial real estate by world region is more closely related to GDP share than it is to population size. 
</li>
<li>The top five most valuable national commercial real-estate markets (excluding residential) are: US: US$8.1 trillion China: US$3.6 trillion Japan: US$2.8 trillion Germany: US$1.7 trillion UK: US$1.7 trillion 
</li>
<li>Pressure on commodity prices has slowed value growth – down 0.4% on an annual basis to US$27.1 trillion. However, an increasing world population, food production (coupled with reduction in food waste) and competitive land uses will sustain values. 
</li>
<li>Equities and gold grew much faster in value than real estate, but rising wealth in emerging economies means there is more capital at large, and real estate is viewed as a safe store for it. Investor motives remain a mixture of wealth storage, capital appreciation and income return. But, increasingly, the income produced by real-estate assets and the potential for rental growth is of increasing interest to investors as the yields on fixed-income assets have compressed.</li>
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Value growth in 2017
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Yolande Barnes is Head of Savills World Research.
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j.ballantyne1990-6AQqhLzZaK

The eight things you need to know about the value of global real estate: Savills

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Expert Observer
Geopolitical events like Brexit and Donald Trump’s election in the US “surprised” investors in 2016 but had no lasting negative impact on global financial markets. By last year investors were well focussed on geopolitical risks – Trump taking over as US President, Eurozone elections, the Communist Party Congress in China and rising risks around North Korea – but again they did not have much lasting negative market impact. In fact, in most cases it turned out to be a positive impact.
Now in 2018 it’s already clear that geopolitical events remain significant, for example with Trump’s tariffs and the messy Italian election result. Despite their benign financial market impact over the last two years they are worth keeping an eye on. This note takes a look at why geopolitics is more important for investors these days and what to look out for this year. 
Why geopolitics is more important now 
While not to deny the influence of various geopolitical events in the 1980s and 1990s the broad trend was reasonably positive with the embrace of free market/economic rationalist solutions (after the failure of widespread government intervention in the 1970s), the collapse of communism and the associated surge in global trade and the peace dividend and the dominance of the US as the global cop. However, while the last 2 years highlight the importance of not getting too distracted by geopolitical events, in recent times geopolitical risks have arguably become more elevated. There are several reasons for this: 
First, the slow post global financial crisis recovery, rising inequality (see the next chart which shows the Gini coefficient - a measure of income distribution) and stress around immigration have all led to a backlash against establishment politics and economic rationalist policies. This is showing up in support for re-regulation, nationalisation, 
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Source: OECD, Standardised World Income Inequality Database, AMP Capital 
The swing of the political pendulum to the left is most acute in Anglo Saxon countries as it was here that the pendulum swung most towards free markets in the 1980s and 1990s. It’s messy in the US as while Trump has tapped into popular discontent and is more protectionist, his policies around de-regulation and tax cuts go in the opposite direction – for now, as this could just set the scene for a more left-wing president in 2020. And Macron in France is going in a fundamentally more pro- business direction, which is very positive for French assets. 
Second, the relative decline of US economic and military power is shifting us away from the unipolar world that dominated after the Cold War when the US was the global cop and most countries were moving to become free market democracies. Now we are seeing the rise of China, Russia revisiting its Soviet past and efforts by other countries to fill the gap left by the US in parts of the world, all creating tensions. 
Third, social media is allowing us to make our own reality. The danger is that, as politicians pander to this, economic policy making will be less rational and more populist. 
Finally, with the mid-term elections in November, Trump is back in campaign mode. And he is not your normal politician. 
Global geopolitical issues to keep an eye on 2018 
President Trump – Trump faces two big challenges this year. First, the mid-term Congressional elections in November risk the Republicans losing control of the House and also the Mueller inquiry is closing in. These in turn put pressure on Trump to create distractions and return to focussing on his base after the pro-business focus of last year. The tariffs, dealing with North Korea and maybe Iran fit into this. 
Tariffs – much has been written about Trump’s steel and aluminium tariffs, but a full-on global trade war is unlikely. First the steel and aluminium tariffs are trivial amounting to less than 2% of US imports. They are nothing compared to the tariff hikes of 1930 and 1971 that covered most US imports. Second, there is more to go on trade with NAFTA renegotiations, a review of China’s alleged theft of US intellectual property likely to result in broad tariffs on US imports from China and restrictions on Chinese investment in the US and possible tariffs on vehicles, shipbuilding, aircraft and semi-conductors are also possible. Finally, Trump is trying to appeal to his base ahead of the mid- terms, but a full-blown global trade war is unlikely. There are few political constraints on Trump imposing tariffs and his Republican base tends to support it. However: the exemptions to his steel and aluminium tariffs suggest he has listened to criticism of his initial plan including around the threat it poses to US alliances; his approach on this issue smacks a bit of The Art of the Deal – go in hard, then back down to something that sounds more acceptable and the same is likely in relation to China with initial harsh measures likely designed for use as a bargaining chip; Trump won’t want to go too far on tariffs as the resultant price increases won’t go down well with his supporters; a plunging stock market in the face of a trade war will also constrain Trump (as he likes to take credit for it going up); and other countries are likely to be cautious in retaliating and China may want to come across as the “good guy” on trade. Of course, this issue could roll on all year, and Australia is vulnerable via its exposure to China. But a full-on global trade war is unlikely – but there may not be much peace on the trade front either. And a US-China trade war is the main risk.
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The Mueller inquiry – this is getting closer to Trump. However, our view remains that while the Democrats may find something to impeach Trump on if they get control of the House of Representatives, in the meantime the Republicans are unlikely to impeach him. And even if the Democrats do impeach him post the mid-terms it’s doubtful they will find the 70 votes in the Senate to remove him from office. And even if Trump is removed from office, VP Pence will not mean a big change in economic policy (just less tweets!). In the meantime most of the big market friendly policies Trump has to offer have been done. 
The US mid-term elections – these will be watched closely as a guide to whether US politics is swinging back towards the Democrats taking the Presidency in 2020. If the GOP loses the House, it will leave Trump as a lame duck president. On the one hand most of his big market friendly policies have already been done so no great impact on domestic policy until post 2020. But being a lame duck could encourage him to seek relevance globally (more tariffs or action on Iran?). 
US shutdown risk – by March 23 funding will again have to be renewed for the Government to avoid a shutdown. But neither side wants to be blamed for a shutdown so expect funding to be granted, another extension or any shutdown to be brief. 
North Korea – news that Trump will meet Kim Jong Un before May and that NK is open to denuclearisation is welcome. Whether it comes to anything though remains to be seen given numerous false thaws with NK over the decades. Or maybe Kim John Un read The Art of the Deal and its development of nuclear weapons was all just a negotiating ploy, so this is really a very big deal. At least it will be “quiet” on this front for a while. 
Iran – the US deadline to remain compliant with the Iran nuclear deal expires in May. It will probably be renewed but if it’s not and sanctions on Iran return it potentially means a sharp reduction in Iranian oil supply which could put upwards pressure on oil prices. Meanwhile, tensions and proxy wars between Iran and Saudi Arabia will continue with occasional flare ups but open warfare between the two is unlikely. 
Italy and Europe - the messy Italian election outcome is not great for Italy, but it’s unlikely to threaten the Euro. There are now three major blocs in the Italian lower house. None of these blocsarenear a majority and it may require a new election (not that most parties want that). Barring a worst-case coalition between the Five Star Movement and the far-right Northern League, which given their huge political differences is unlikely, it will be the Democratic Party that will decide who forms government and given its pro-Euro and left of centre bias it’s more likely to lean to 5SM but only if it remains supportive of Italy remaining in the Euro. But it may take months to get to this point. This is not great for Italy, but there is unlikely to be a short-term threat to the Euro. In any case support for the Euro remains strong across the rest of the Eurozone so even if Italy does leave, a contagion across Europe looks very unlikely. This and the German Social Democrat Party’s solid support for a coalition with Angela Merkel all leaves Germany on track to work with France on strengthening the Eurozone. 
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Terrorism – The impact of terrorism on investment markets has been declining since the 9/11 attacks to the point where attacks in recent years have had little impact. Economies and markets seem to have become desensitised to them to a degree. 
China – The Chinese Government’s focus on its reform agenda - shifting towards less investment intensive growth, reducing pollution, reforming state-owned enterprises and reducing financial risk - has long run hot and cold, speeding up in good times only to slow down if growth slowed. However, the reform agenda now looks likely to see another step up posing a short- term threat to growth (albeit with a long-term benefit) and with President Xi Jinping’s status enhanced in October’s National Communist Party Congress and leadership term limits now abolished it’s likely that the leadership’s tolerance to a slowdown in growth may be greater than in the past. So the growth/reform nexus bears watching in terms of the outlook for global growth, commodity prices, etc. 
Australia – the main risk in Australia is an early election and the adoption of less business-friendly policies (higher taxes, more regulation) under a Labor Government which may be taken badly by financial markets. The May budget is likely to promise income tax cuts but in the absence of better polling it’s hard to see the Government calling an early election. 
Implications for investors 
These geopolitical issues have the potential to keep volatility high this year and so are worth keeping an eye on. However, there are several key points for investors to bear in mind. First, turn down the noise. Geopolitical issues create much interest, but as we seen in recent years (with eg Brexit, North Korea and Catalonia) they won’t necessarily have significant negative impacts on investment markets. Second, it’s hard to quantify geopolitical risks. You have to understand each issue separately. Finally, given the difficulties in trying to predict geopolitical shocks and their impact it often makes more sense for investors to focus on the opportunities they throw up, rather than taking long term shelter from them in low returning cash. 
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<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author">SHANE OLIVER</a> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.
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