Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Balance Sheets

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The sovereign net worth implied by market prices tends to be on average about 20 percent of GDP higher than its accounting value for a sample of 31 advanced economies and emerging market economies, according to IMF's latest report.
Differences between market and accounting values are more positive for countries with weaker fiscal fundamentals and have increased disproportionately for euro area countries over the past two years.
Sovereign credit indicators (such as credit default swap spreads and bond yields) offer valuable information about the size and riskiness of government balance sheets, as perceived by the market. Higher credit spreads, which measure the default risk borne by public bond holders, indicate that a government’s financial solvency has deteriorated.
This occurs when the government net worth declines and eventually becomes negative—at which point government assets become insufficient to fully cover outstanding liabilities.
This box relies on a finance model that builds on the contingent claim analysis framework of Jobst and Gray (2013). The model’s purpose is to infer a market-implied estimate of government assets, which are mostly unobservable, from the (observed) amount and maturity structure of outstanding debt securities and their prevailing market valuation, under the assumption that available credit indicators imply an accurate assessment of sovereign risk.
The market-implied sovereign net worth is then computed and compared with the accounting data reported by statistical agencies. The framework is applied to monthly observations between April 2012 and the end of 2015 from 31 advanced and emerging market economies for which comprehensive accounting balance sheets are available.
Overall, the analysis shows a significant gap between market- and accounting-based assessments. Results for 2014 suggest that market-implied sovereign net worth exceeds its accounting equivalent by about 20 percent of GDP on average, with considerable cross-country variation (Figure 1.5.1).
The market assessment is forward looking and thus may reflect various factors, including valuation effects and the acknowledgment of unobserved or unmeasured effects that have an impact on debt sustainability but are not recorded by statistical offices (such as future primary balances and implicit guarantees received or granted by the government).
<a href="/images/2016/10/12/Median%20Evolution%20of%20Market-%20Implied%20Net%20Worth%20201215.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/12/Median%20Evolution%20of%20Market-%20Implied%20Net%20Worth%20201215.jpg" width="350">
Moreover, the gap between the market and accounting measures of sovereign net worth is positive and widens for countries with weaker fiscal positions (in Figure 1.5.1, fiscal stress is defined as debt ratios exceeding debt sustainability analysis thresholds, but the result is consistent with broader measures of fiscal soundness).
Because the model controls for changes in sovereign risk, this means that for these countries, market prices would justify a significantly higher net worth than measured by accounting data. Conversely, accounting balance sheets would be consistent with sovereign credit spreads above those currently observed.
Interestingly, euro area countries have experienced a much higher increase in market-implied net worth than other countries in the sample since mid-2012.
In these countries, net worth rose by more than 30 percent of GDP on average between mid-2012 and the end of 2015, with half of the surge occurring in the months following European Central Bank President Mario Draghi’s July 2012 pledge to do “whatever it takes to preserve the euro” (Figure 1.5.2).
Over the same time period, expected losses on public debt, which underpin the estimation of market-implied net worth, declined sharply (Figure 1.5.3). Fiscal consolidation efforts and overall financial conditions are certainly part of the story, but they are not sufficient to explain such a sharp increase in a short period of time.
Other factors are also at play, most likely monetary policy actions and perceptions about future monetary stance, suggesting benefits from coordinated policy measures (IMF 2016c).
<a href="/images/2016/10/12/Change%20in%20Market-Implied%20Expected%20Losses%20on%20Sovereign%20Debt%20201215.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/12/Change%20in%20Market-Implied%20Expected%20Losses%20on%20Sovereign%20Debt%20201215.jpg" width="350">
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j.ballantyne1990-6AQqhLzZaK

Property 101: How much do financial markets value government balance sheets?

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As in other emerging market economies, incomplete information prevents a full assessment of the fiscal buffers in China, according to IMF's latest report.
However, preliminary estimates suggest the general government’s net financial worth could range between 0 and a negative 23 percent of GDP, better than that in other emerging market economies.
Nonfinancial assets may provide additional buffers, but the extent of contingent liabilities and age-related spending increases are important sources of vulnerability.
With high and rising corporate debt and potential contingent liabilities from the financial sector and state-owned enterprises (IMF 2016d), it is important to assess the strength of the general government’s balance sheet in China to facilitate a necessary adjustment.
While it is often difficult to estimate the general government’s net financial worth in emerging market economies given the dearth of information especially on the asset side, in the case of China, shortcomings in data on the fiscal accounts and an intricate network of cross-financing make this task particularly challenging:
• Liabilities. Until recently, a significant amount of liabilities associated with off-budget local infrastructure spending, which benefited from implicit or explicit government guarantees, was not included in debt aggregates. Under the 2015 budget law, aimed at improving transparency of local government finances, about 20 percent of GDP of these liabilities have been explicitly recognized as part of China’s general government debt, resulting in a doubling of the debt ratio. An additional 12 percent of GDP has been recognized as contingent government liabilities. Nevertheless, there may be other off-budget contingent liabilities incurred in 2015, estimated at 5 percent of GDP, that have yet to be acknowledged.
• Assets. Available estimates suggest that the general government’s largest financial asset is related to its participation into state-owned enterprises (Chinese Academy of Social Science 2015; Xu and Zhang 2014; People’s Bank of China), but detailed data about the government’s total holding of equity in state-owned enterprises is not publicly available.
A first attempt to estimate the general government’s net financial worth suggests that it is between a positive 3 percent and a negative 23 per- cent of GDP, better than the negative 24 percent on average in other emerging market economies (Figure 1.1.1). In particular, at the end of 2015, financial liabilities amounted to 38–55 percent of GDP (depending on whether off-budget and contingent liabilities are included).
Financial assets (comprising deposits in financial institutions—5 percent of GDP—and equity holdings in state-owned enterprises) are estimated at between 32 and 41 percent of GDP. This wide range is related to significant uncertainties regarding the valuation of state-owned enterprises, as many of them are not traded.
<a href="/images/2016/10/24/China.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/24/China.jpg" alt="">
On the basis of these enterprises’ net asset positions, the government’s equity holdings could be worth around 36 percent of GDP.2 A more conservative assumption based on their profitability would reduce this estimate to 27 percent of GDP.
 The general government’s net financial worth may not, however, give a full picture of the available buffers. Ideally one would like to look at the public sector (including the central bank), but limitations of available data on public corporations, including estimates of the value of implicit government guarantees, preclude a full assessment.
In addition, other nonfinancial assets and other contingent liabilities of the general government should be accounted for. For example, the value of land ownership (a nonfinancial asset) estimated by computing the net present value of net use right fees for the next 25 years could be up to 51 percent of GDP. On the other hand, under current policies, estimated increases in age-related spending (following the methodology in Clements and others 2015) would amount to 128 percent of GDP in net present value terms.
Also, contingent liabilities such as potential losses on corporate loans from rapid and inefficient credit expansion may put further pressure on the fiscal accounts (April 2016 Global Financial Stability Report). Additional losses can be expected in other parts of the financial system, especially in shadow credit products.
Limited information makes it difficult to manage risks and can lead to markets’ overreaction to policy changes. From that perspective, a priority for China should be to strengthen its fiscal risk analysis and management framework, starting with a clear and transparent identification of assets, liabilities, and exposures.
Full implementation of the 2015 budget law would be a step in this direction. Once risks are identified and quantified, tools to mitigate risks (including limits on exposures, regulations, and a mechanism to transfer risks) could be considered, along with decisions about risk provisions, contingency budgeting, and buffer funds.
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