UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Joel Robinson

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

The Maybelle brings 27-storey parkside tower to market near North Strathfield

Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a> has unveiled its vision for the former Water Tank Site in Ivanhoe, which would see it transformed into a thriving residential neighbourhood, complete with a 2000 sqm public park.&nbsp;

Delivered in partnership with <a href="https://www.apartments.com.au/developers/development-victoria">Development Victoria</a>, the proposal would transform the prominent corner of Bell Street and Upper Heidelberg Road into a connected community comprising two residential buildings, generous public open space and shared amenities.&nbsp;

The vision includes 287 one, two and three-bedroom apartments, with a minimum of 10 per cent allocated to affordable housing, alongside a 2,000-square-metre publicly accessible park featuring a children's playground, activity lawn, indigenous planting, timber climbing logs, seating areas and a rock gathering circle.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, the proposal draws on the site's industrial heritage, using a robust architectural language that references the former water tank through expressive structural elements and durable, self-finished materials.&nbsp;

Extensive landscaping has been woven throughout the development, creating a living landscape that strengthens connections to nature while responding sensitively to the surrounding neighbourhood. Two residential buildings ranging from three to 12 storeys are linked by a landscaped forecourt, creating a welcoming arrival experience and improving pedestrian connections through the site.&nbsp;

Residents would also enjoy more than 1,000 square metres of communal open space, including barbecue and dining facilities, vegetable gardens, landscaped seating pavilions and a dedicated coworking space.&nbsp;

PDG Founder and Managing Director Vince Giuliano said the vision reflected an opportunity to transform one of Ivanhoe's most recognisable sites into a place that balanced housing, community and landscape.&nbsp;

"This is an opportunity to reimagine an important site and create a neighbourhood that delivers lasting benefits for Ivanhoe," Giuliano said.&nbsp;

"We're creating much more than new homes. The vision brings together affordable housing, quality architecture, meaningful public open space and shared places that encourage people to connect, while respecting the site's history and its place within the local community."&nbsp;

Development Victoria’s Executive General Manager Precincts, Niall Cunningham, said the application is an important step for the government-owned site.&nbsp;

“This is about delivering more homes in a well-connected location, along with public open space that the Ivanhoe community will benefit from for years to come,” Cunningham said.&nbsp;

PDG was selected as development partner in late 2025 following a competitive tender process.&nbsp;

A planning submission for the project is currently being progressed through the Victorian Government's Development Facilitation Program, with positive early engagement from both Banyule Council and the Department of Transport and Planning.

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

Shane Wilkinson's <a href="https://www.apartments.com.au/developers/pace-development-group">Pace Development Group</a> has lodged plans for a major residential precinct on the former Presentation College site in Windsor, with an eight-building masterplan ultimately rising to 10 storeys.

The proposal at <a href="https://www.apartments.com.au/new-apartments/167-dandenong-road-windsor-vic-3181">167–187 Dandenong Road</a> spans a substantial 19,027 sqm site and is being progressed across six stages, with the first residential stages comprising 170 homes across four buildings designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>.

Stage Two will deliver the bulk of the initial housing, with Building A comprising 81 apartments and Building B 49 apartments, both rising to six storeys.

Stage Three will deliver a further 40 homes. The heritage Nagel Building, identified as Building C, will be converted to 12 dwellings, while a new five-storey Building D will comprise 28 apartments at the Hornby Street and Dandenong Road corner.

The 170 homes across Stages Two and Three will include a mix of one, two and three-bedroom apartments, including townhouse-style dwellings.<img alt="First look: Pace plans landscaped housing precinct on former Windsor school site" data-entity-type="file" data-entity-uuid="83c56e3e-dfb9-4e12-b172-c3f18513ec32" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_9.png?VersionId=xRcRpSZsxX.UX_NDDGcRZktw7HVrzx7u" />

&nbsp;

The longer-term masterplan points to considerably greater density across the site.

Indicative plans show Building E accommodating around 80 dwellings across up to 10 storeys, while Building F is earmarked for around 120 dwellings and also up to 10 storeys. Building G is planned to range between four and 10 storeys, however its apartment yield is yet to be determined. That means the masterplan currently identifies at least 370 dwellings across Buildings A to F before any apartments within Building G are counted.

Across the 1.9-hectare site, that represents an indicative density of at least 194 dwellings per hectare, with the final figure to increase once the yield of Building G is established.

Pace is pursuing the project through the Victorian Government's Development Facilitation Program, with Urbis lodging a combined Section 96A planning scheme amendment and planning application on behalf of the developer, which secured the site earlier this year.

The application seeks detailed approval for Stages One, Two and Three, alongside approval of the broader masterplan framework that will guide the later residential stages. Stage One will see an existing heritage building adaptively reused for a wellness and fitness-related facility, while the broader precinct will retain several significant heritage buildings and established trees as part of the redevelopment.

A minimum 10 per cent affordable housing contribution is proposed across both the initial residential stages and the later masterplan stages, delivered through a discounted rental model.

The project comes immediately after a major change to the site's planning controls.

The site was rezoned to the Housing Choice and Transport Zone through Planning Scheme Amendment GC285, gazetted on July 22, 2026, and now sits within the inner catchment of the Windsor Station precinct under the State Government's Train and Tram Zone Activity Centres Program.

While the new controls identify large sites within the inner catchment for buildings of up to six storeys, Pace's masterplan pushes height to 10 storeys in parts of the site, with the taller buildings concentrated toward the centre and along the Sandringham railway corridor.

Lower-scale built form is proposed toward the site's more sensitive residential and heritage edges, with Buildings A and B generally stepping from three storeys at their interfaces to six storeys at upper levels.

Cera Stribley's masterplan breaks the development into a collection of separate buildings rather than a continuous built form, with landscaped spaces, new pedestrian links and a new publicly accessible road forming part of the precinct.

The planning report says the development will create new pedestrian connections to Elm Place and along the railway corridor, as well as a new publicly accessible road linking Elm Place with Dandenong Road. The proposed buildings will occupy around 54 per cent of the site, leaving a substantial portion available for landscaping, communal areas and permeable surfaces.

Urbis said the scale of the project reflected the site's strategic location close to Windsor Station, tram services and the Chapel Street Activity Centre, with the former school campus identified as a significant opportunity to increase housing supply on an underutilised inner-Melbourne site.

&nbsp;

First look: Pace plans landscaped housing precinct on former Windsor school site

Off the plan

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Around $11 million has been paid for an off-the-plan penthouse in St Leonard’s The Landmark development.
It was secured in the second stage release of the complex by Chinese developer New Hope and VIMG.
The sales included four two-storey penthouses on levels 55 to 58 priced at $3 million to $10.9 million.
The median sale price for units in the suburb is $915,000, according to CoreLogic.
The mixed use development is at 500 Pacific Highway, the tallest residential tower in St Leonards.
A range of studios, one, two and three-bedroom properties are currently available, with prices ranging from $661,000.
For more information, <a href="https://thelandmarksydney.com.au" target="_blank">click here</a>.
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jchancellor-FAypfDUnLy

St Leonard's $11 million penthouse sale

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Considering and discussing, the purchase of an investment property opens up all sorts of arguments, discussions and from time to time, polarizes the parties involved.
This is not to mention also spoiling a friendly neighborhood BBQ or coffee catch-up with a friend.
One of the many and current topics of discussion is whether we should buy new and off-the-plan apartments in one of the main three capital cities of Australia; namely Brisbane, Melbourne or Sydney?
I have taught and have written about off-the-plan purchases. The following reason for buying can be used as a blanket approach when considering a new apartment purchase. Notwithstanding, this strategy may be considered across any city or development, as a matter of course.
The main beneficial reason why an investor would buy a new apartment, before completion, was simple to understand in previous years. Developers needed pre-sales to support their construction application for the banks.
Pre-sales which are now predominantly called off-the-plan sales, had one major attraction in the past, which now appears to be lost. As an off-the-plan purchaser, there was a benefit; we bought early and saved from 5 and up to 10 percent the value “at the time” off the purchase price. This was measured against prices of similar completed apartments, on the day.
The current trend and market for off-the-plan purchases.
The current trend however, has bucked the reasoning behind the support given to developers with pre-sales.
On the one hand, developers have become greedy and with the support of the financial sector, have increased the asking price.
In other words, we now pay tomorrow’s market value for the apartment and with no added discount as a benefit. The underlying question is “but why?” This is all because of the highly speculative new client base: the overseas investors that have come in and in large numbers. As well as the Self-Managed Super Fund (SMSF) vehicles, set up for local speculators and investors.
Both overseas and SMSF investors are fueling the new-apartment development bubble as has never been seen before. With this in mind, developers and marketing companies have been able to increase:
<ul>
<li>The end property values to account for market forces that has seen a huge upswing in prices; and</li>
<li>To pay for the high commissions paid out to marketing agents and the financial sector. Commissions in the tune of 8-10 percent.</li>
</ul>
The repercussion of industry greed
The outcome of the high prices charged for new-apartments and higher commissions than the industry norm is a no-brainer; the losers are the buyers, most of the time.
For years, I have been discussing the need for the Real Estate Industry and watchdogs to tighten controls against this push, but my calls have fallen on deaf ears and the outcome is:
1)     We now have an understated over-supply of apartments across Brisbane, Melbourne and Sydney;
2)     The rental market cannot and will not effectively absorb the new supply, which will have an increase in rental vacancies; and
3)     The inevitable, valuers will value down apartments to safeguard their client’s interest, the banks.
We may well see drops of 20-30 percent in values and in the near future. Likewise, rental yields will diminish to 60-70 percent off what they are today.
Supply chart of apartments to be completed in the next 12-24 moths
<a href="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.56%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.56%20AM.png" alt="">
Where to from here?    
I have been asked by friends, clients and family; where to from here? I have shared the following with them for over 12 months and only now the mainstream are coming to the party.
1)     Hold and wait; wait for another 6-12 months before looking to buy, if you need to buy new.
2)     Most of the new apartments are under-engineered, badly built and come with a lot of issues.
3)     Have you noticed that most spruikers try and only sell you, new and off-the-plan apartments? and
4)     Communicate as much as possible with local real estate agents that don’t have invested interest in the new development. After all, they may be the ones that will manage the property for you.
The caption below is an article recently posted by a colleague of mine. It is a timely argument of what is to come. This is all due to the huge oversupply of high-rise development. When we match this information with the number of apartments currently under construction; it appears to be the makings of a nightmare for investors in high-rise developments. 
<a href="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.43%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.43%20AM.png" alt=""> 
The full article may be found on: https://mortgageeproperty.com/foreign-investor-settlement-risk-soaring.html
Tips in managing your investment
If you do find yourself in a position that you have bought an off-the-plan apartment and your property is in the final stages of settlement; I recommend the following tip, to minimize long term vacancy.
Don’t rely on the selling agent’s “marketing company” to lease your apartment, particularly if they were the leading agency in the sales phase. You only have to ask; how many other investor’s apartments are they also trying to lease out? 
Now if you are looking to invest in new apartments, our old and proven theory remains steadfast. Invest in low set building blocks and preferably one’s that have no more than three levels.
More importantly, be sure to and look out for the next article on: buying in low set building blocks, versus high rise apartment blocks; winners and losers.  
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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ealmedia-arK4DBYLjS

Bumpy ride buying new apartments in Melbourne, Brisbane and Sydney: Edwin Almeida

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An off-the-plan purchase of an apartment near Monash University in Melbourne by a Chinese based buyer is caught up in the emerging settlement risk scenario.
The off-the-plan sale for $600,000 is keeping the buyer up at night. Liu Jiabing planned for his daughter’s education when he helped her to get an offer to enrol next year, and then bought an apartment in Melbourne that is due to settle next month.
“At the very first, I was told I only had to pay 20 percent downpayment,’’ said the buyer, Mr Liu, who works at a prestige foreign language school in Nanjing, in China’s east.
He told The Australian the financiers then told him to pay 30 percent, "and later 40 percent, as the banks won’t lend and we have to borrow from small ­financial organisations.
“Last night I was told I have to pay 55 percent for down-­payment.
"But how am I supposed to find so much in cash in such a short time? I still have to pay my daughter’s university fees.”
Mr Liu is among the Chin­ese parents who buy new off-the-plan apartments before sending their children to Aus­tralian universities.
AC Property, a Melboune-based property portal, has been taking four or five calls every day from buyers who seek to resell their off-the-plan apartments after finding it hard to settle, the newspaper reported.
“We have been referring our clients to mortgage brokers to see if they can get alternative finance, but we haven’t seen a single case of success so far,” said AC Property ­director Esther Yong.
In once case parents, based in Guangzhou, in China’s south, have already missed the settlement deadline of July 18 for the apartment they bought for $440,000.
The developer is now charging them about $150 a day as penalty, which is pushing Mr Li to resell as soon as possible.
The Australian columnist Robert Gottliebsen wrote today the Chinese link to the looming apartment glut puts the education sector and Australia's international reputation "in peril."
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Higher equity required for offshore Chinese buyers settling off-the-plan apartments

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One in 20 off-the-plan buyers walked away from their Melbourne apartment purchases in June, according to the law firm, Maddocks.
The law firm processed over 800 apartments contracts in June.
They recorded that 5 per cent of the purchases did not settle on their apartment.
The historical average was about 3 percent.
It record of default rates sat at 2 percent between February and April, when volumes were lower.
Of those buyers who did not settle in June, roughly two-thirds were foreign-based, The Australian Financial Review noted.
The Maddocks firm handles about 15 percent of all off-the-plan sales in Melbourne each year worth around $3 billion.
Its development practice partner, Nick Holuigue, played down the rise in defaults.
"Our figures don't show any dramatic increase in settlement defaults, despite the usual big rise in settlement volumes in June," he said.
"They show that despite the banks changing or tightening their lending policies and the media talking up the risk of rising defaults, buyers – including foreign buyers – are still settling their contracts and sourcing finance where required.
"The only thing we are hearing from developers and experiencing ourselves is that foreign buyers are perhaps taking a little longer to settle.
"Nothing we are experiencing in our dealings with a variety of buyers' representatives give us cause for concern that our developer client's FIRB-approved buyers are going to be unable to settle."
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One in 20 fail to settle Melbourne OTP purchases

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The South Australian state government's decision to extend stamp duty concessions for off the plan apartments in the 2016-2017 State Budget has been warmly welcomed by the local development sector.
Pat Gerace, executive director of the SA branch of the Urban Development Institute of Australia said the UDIA has been urging the Government to continue stamp duty concessions for off-the-plan apartments, which will now be extended by 12 months until June 30 next year and include off-the-plan apartment properties across the state.
“These stamp duty concessions will make apartment properties more affordable and help more homebuyers into the market. Importantly, it will also allow more choice for those who are downsizing or trying to get into the market but don’t want to live in the city,” he said.
"We also requested the Government remove land tax on undeveloped residential land, which would reduce the land tax impost that is ultimately applied to pricing when the land is eventually ready for purchase by homebuyers. 
"The Government also needs to provide funding to establish proposed infrastructure schemes and an e-planning system by mid-2018 – as outlined in the recently passed Planning, Development and Infrastructure Bill 2015. There’s been good progress in recent times to reform the state’s planning system, so it’s important the Government provides the necessary funding to establish new initiatives such as infrastructure schemes and an e-planning system to help unlock new investment and generate economic growth."
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jonathanchancellor-7SQnKwU6yx

SA extend tax concessions for off the plan apartment buyers

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South Sydney Rabbitohs prop George Burgess has snapped up a garden apartment in Randwick's Epoque boutique development.
Recently engaged to model Joanna King, Burgess paid about $2 million for the MHNDU designed three bedroom apartment. <a href="https://epoqueliving.com.au/" target="_blank">There's eight in the block</a> listed through D'Leanne Lewis at Laing &amp; Simmons Double Bay. Prices range up to $2.6 million with 2017 completion.
They currently own in a Chifley duplex, where he lived next door to former team mate Tim Grant who recently sold for around $1.65 million through McGrath agent Marnie Seinor.
George clearly didn't fancy buying brother Sam's apartment, who took his Bondi Beach apartment off the market last week having decided to lease it out with a $1950 a week asking price. It was also available at $2600 a week furnished.
This article was first published in the Saturday Daily Telegraph.
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j.ballantyne1990-6AQqhLzZaK

George Burgess buys off the plan in Randwick's Epoque

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SPONSORED POST
If you have bought an off-the-plan property, assessing that property post construction is an important part of the settlement process.
Of course, you want to ensure that the property you agreed to purchase is the same that is being delivered so that you’re getting what you’re paying for!
The most cost effective way to make sure your property is delivered just as your purchase contract promised, is to have your contract documentation reviewed and the property physically inspected and assessed by an appropriately qualified Building Consultant.
An NBtax Condition Assessment, completed by a Napier &amp; Blakeley Building Consultant will take note of the ‘as built finish’ of your property. From our initial review of purchase documentation, contract of sale, agreed finishes and specifications, we have a unique understanding of what was agreed to be built.
We will inspect your property on your behalf, asses and document the condition of the finishes within the property, good or bad.
Following an inspection a Condition Assessment will be completed by NBtax and will provide a concise summary of the condition of the property. It will list defects that the developer and or builder should address to deliver the property that is consistent with expectations, including but not always limited to, the agreed plans and specifications, good building practice and expected industry standard.
Our assessment will give you a clear understanding of any potential issues or defects before you take possession, move in or put the property up for lease.  It also gives you peace of mind, providing you with a document that will ensure agreed items between you, the purchaser, and the vendor are installed or rectified prior to settlement.
The best time to have a Condition Assessment completed is as close as possible to the planned settlement date. It is important to note that you still have a contractual obligation to settle your purchase on time. However, under normal circumstances having a condition assessment completed on your property will make you a more informed purchaser and provide you with a written report to enable you to highlight to the developers identifying items requiring attention.
This service is especially valuable to those offshore purchasers who are not present at the time of settlement. We are able to act on their behalf during settlement inspections to ensure relevant conditions are met within the sale contract.
Our specialised teams are ready to help, contact us today.
For more information, <a href="https://nbtax.com.au/" target="_blank">click here</a>.
 
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Be sure to get what you paid for!

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“Buying off the plan” refers to buying property in a plan of subdivision that has not been registered, or a unit that has not been built.
Buyers enter into a contract with a developer to buy property in a development which may not be completed for some years.
Marketing and selling property off the plan can enable land to be developed in an efficient, cost-effective way. Buying property in this way can also allow buyers to future-plan their housing. However, there are particular risks in this type of sale.
Contracts between the buyer and seller usually contain a number of conditions. These conditions may outline matters including:
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<li>the agreed time-frame for the developer to complete the project;</li>
<li>the agreed standards to which the project should be delivered; and/or</li>
<li>how the contract can be varied or terminated, and by who.</li>
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Legislation has recently been amended to provide additional protection for purchasers of property, off the plan. Learn more about these changes and the consultation process, below.
What change has been made to the law? 
The law has been strengthened to help stop developers from unreasonably using sunset clauses, provided in their contracts for off the plan residential property sales, to bring those contracts to an end. 
Under the Conveyancing Amendment (Sunset Clauses) Act 2015, a developer that is the vendor under a contract is now required to give notice to each purchaser under the contract, before ending the contract. This notice must state why the developer proposes to end the agreement and give reasons for delay with the project.
For the contract to be terminated, the purchaser would need to agree.
If the purchaser does not agree, and the lot has not been created before the sunset date, then the developer will need to obtain an order from the Supreme Court permitting the contract to be rescinded.
The new legislation will apply to all off the plan contracts that have not been completed - that is, contracts that are still in operation on 2 November 2015; and, also, to any off the plan contracts entered into on or after 2 November 2015.
So, for example, if a developer has sought to use a sunset clause to rescind a contract made on or after 2 November 2015, the contract would attract the protection of the new law and the developer would need to obtain a Supreme Court order to end that contract.
More information is available at <a href="https://www.lpi.nsw.gov.au/" target="_blank">www.lpi.nsw.gov.au</a>.
Why was this change needed? 
Amendments to legislation have been passed by the NSW Parliament to protect consumers in response to an emerging concern that certain developers may be terminating contracts specifically for financial gain, through the use of ‘sunset clause’ provisions.
A sunset clause can be used by either party to end the contract, if the project is not completed on time. This clause in a contract can help buyers by giving them the right to end a contract and pursue other property options, if the building project is delayed.
However, some NSW consumers have reportedly had their contracts rescinded by developers using sunset clauses, only for the land or apartment that has been the subject of those contracts to be re-sold shortly after, for a higher price.
In some other instances, developers have used delay with a project to activate the sunset clause.
This practice creates uncertainty and disappointment for would-be buyers, who may have been waiting to settle the purchase for many months or years.
To respond to these concerns, NSW Fair Trading and NSW Land and Property Information (LPI) consulted on the extent of the problem and considered a range of measures to address this issue. Those consultations have resulted in the new legal procedures outlined here and as set out more fully in the Conveyancing Amendment (Sunset Clauses) Act.
Response to the buying property off the plan survey 
In considering changes to the current laws, the NSW Government conducted a survey to obtain feedback about off the plan property sales. 639 people responded to that survey over a three week public consultation period. The survey closed on 14 October 2015.
Fair Trading and LPI assessed the results of that survey to help identify and respond to key issues related to this type of property sale in NSW. Industry stakeholders and consumer representatives were also separately consulted, to consider possible changes to the law.
For more information, <a href="https://www.fairtrading.nsw.gov.au" target="_blank">click here</a>.
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Property 101: NSW buying off the plan

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iBuyNew, the online marketplace connects prospective property buyers with off-the-plan properties, whether it's apartments or townhouses.
The company had marketed more than 650 new residential projects around Australia as of September 2015, according to its CEO Mark Mendel.
Some of the recent properties featured on iBuyNew include projects in NSW's Gosford, Merrylands, Melbourne and Brisbane. The developments are priced in the range $435,000 to $490,000. 
iBuyNew has more than 2,700 new and Off The Plan (OTP) properties.
Starting in 2013, iBuyNew sold more than $170 million worth of properties and generated more than $600,000 in profit last year, according to an article in the Australian Financial Review late last year.
Mendel plans to grow his team to 30 by the end of 2016 as the company begins to expand its offerings and user base.
Recently, technology investment company Disruptive Investment Group Limited increased its stake in iBuyNew to 100 percent from 50 percent for $5.9 million. 
The deal is expected to be completed before July this year subject to approval from shareholders.
Mendel said in a recent media post that iBuyNew are property consultants, helping buyers zero in on the right property through reach, advice and insights. 
The company pays its consultants a flat fee irrespective of whether it's a $300,000 or a million dollars. 
"Many other real estate agents are paid a commission, so the more you spend, the more they gain," said Mendel.
He also said many developers were approaching the company even before launching their projects to the market.
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iBuyNew helping buyers with off-the-plan properties

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The Chinese purchasing of offshore property will increase in 2016, according to an industry survey.
According to Investorist, an online platform for off-the-plan sales, a poll of China-based real estate agencies found 149 of 150 of them expect to see a spending spree exceed that of 2015.
Australia was nominated by 60 percent of those agents as their most preferred market for property investment, The Australian Financial Review has reported.
Those agents will sell up to 11,000 offshore properties to their Chinese clients this year.
China is now Australia's largest foreign investor, with $46.6 billion in proposed investment in 2015, according to the Foreign Investment Review Board.
Real estate investment comprised the bulk of Chinese investment, with $24 billion spent in 2015, double that of the previous year.
The Investorist survey suggests that risk mitigation is the main reason Chinese investors are looking abroad.
The devaluation of the Chinese yuan against the US dollar has reduced the buying power of Chinese investors in the US and Britain, whilst the Chinese government has been attempting to put the brakes on offshore investment in a bid to shore ip its waking currency. 
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