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

New Developments

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The Hong Kong-listed development company, Country Garden has emerged as one of the Chinese companies to have expressed interest in buying Harry Triguboff's Meriton.
Country Garden Australia chief executive Johnson Zhang said the group had held preliminary discussions with Mr Triguboff, the Australian reported today.
The reported Country Garden approach was to buy, at least, part of his $6.25 billion Meriton apartment empire.
“We have met him; we have had discussions with him over this. But it is only in the pre­liminary stage. We might be looking for someone else. We are not sure yet,’’ Mr Zhang told the News Ltd paper.
The Chinese property development company bought their first Australian development site in late 2013 at North Ryde. 
The Global Business Park, 63-71 Delhi Road, had approval for a four building commercial development but Jones Lang LaSalle sold the Goodman Group site with potential for the developing 830 apartments.
Country Garden is a property development company based in Guangdong Province, China, owned by Yang Guoqiang's family. It focuses on building high-end residential property.
Founded in 1992 and listed on the Hong Kong stock exchange since 2007, it is controlled by China’s richest heiress, Yang Huiyan.
Wanting to become a major developer in Australia for the long term, Mr Zhang told The Australian the group preferred suburban sites which could sustain large garden areas.
Their newly released Ryde Garden development (pictured above) is a trio of buildings each have its own rooftop garden.
Bates Smart Architects designed 830 apartments for Country Garden’s first Australian project, on a site 50 metres from North Ryde train station. 
<a href="https://www.cpmrealty.com.au/Buying/Search/Detail.aspx?id=3626&amp;wlid=5ad6e8b1-b411-435b-a832-4cc784d50cce" target="_blank">They are for sale through CPM Realty agent Sam Elbanna</a> and JLL with a 2017 completion date, subject to final council approval.
The off the plan begin on Saturday 28 June 2014, conducting the sales day at the Four Seasons Hotel in Sydney’s CBD.
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One, two and three bedroom apartments in buildings A and C - which are two of three proposed towers in the new Ryde Garden community, will be on sale.
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jchancellor-FAypfDUnLy

Ryde Garden debut for Country Garden Australia

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Central Melbourne will be home to three new skyscrapers totalling 2,022 apartments, with Planning Minister Matthew Guy approving the developments this week.
Over $830 million will be invested into the three projects, which will house an expected 4,000 people and provide 5,800 construction jobs.
“Importantly, central Melbourne is the right place for high density, high rise living,” said Guy, saying it’s the most walkable city.
“Building more apartments in the city takes population pressure off quieter suburban areas,” he said.
The three projects each include shops and cafes at ground/street level, pedestrian links and resident amenities and facilities.
“Australia 108 will be the first 100-storey building in the Southern Hemisphere. At a height of 319 metres above ground it fits within relevant aviation regulations, and will include 1,105 apartments. This includes a good mix of one, two and three bedroom apartments that will bring diverse household types into this central city location,” he said.
“When completed Australia 108 will be the most striking building on Melbourne’s skyline and a great example of the strength of homegrown Melbourne architecture.”
Another apartment tower is 452 Elizabeth Street, a 75 storey creation rising 241 metres, that includes 622 apartments, including three levels of communal resident facilities.
The third tower is 84-90 Queensbridge Street in Southbank, which will see a 54 storey creation spanning 185 metres high, containing 295 apartments.
“Victoria has the strongest construction sector in Australia, and our planning system is geared towards maintaining this economic advantage,” Guy said.
“Since 2010, 54% more homes have gained building approval in metropolitan Melbourne than in Sydney, and 11% more than the entire state of New South Wales,” he said.
“By building more homes, we are ensuring we won’t have the drastic and harmful housing shortage Sydney is experiencing.”
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jduke-EHk3XBmHkn

Three more Melbourne skyscrapers, 2,022 apartments, approved

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The businessman Lloyd Williams is seeking permission to replace his low-rise corporate headquarters with a 304 apartment, 40-level apartment tower at 248-280 Sturt Street, near the corner of Kings Way.
The 120 metre residential tower will have silver reflective glazing to a Elenberg Fraser design.
With its building form consisting of two dominant floor plates connected by a transitional twist, the tower smacks of cutting edge quality, according to the blog, <a href="https://urbanmelbourne.info/planning/2014/05/20/i-spy-new-planning-applications" target="_blank">urbanmelbourne</a>.
Starryland Melbourne has recently secured permission for its 54 storey apartment block at 84-90 Queensbridge Street, Southbank. Its a 295 apartment Rothe Lowman-designed project.
Meanwhile the listed Malaysian conglomerate PJ Development Holdings has purchased a two-hectare Southbank, Melbourne city fringe car-park site for $145 million.
The 93-119 Kavanagh Street development site (pictured above) was sold by interests associated with the Banco Group directed by Mario LoGiudice.
There are expectations of a $1 billion project by the PJD group.
There has been speculation in Malaysia that there has been speculation that PJD may embark on a corporate exercise to raise funds or to be merged with OSK Property Holdings Bhd to form a bigger entity. 
Both property development outfits are controlled by veteran investment banker Tan Sri Ong Leong Huat who holds 26.8% and 70% stakes in the companies respectively.
The off-market transaction brokered by Knight Frank agent Paul Henley highlights the renewed interest in the precinct by developers.
The two hectare Southbank site occupies the block bound by Kavanagh, Power and Balston streets, the West Gate Freeway and the Citylink Operations Maintenance building.
It is capable of accommodating six residential skyscrapers, with Banco securing permission in 2001 for five mid-rise office buildings. 
Some $400 million of Southbank land sales have taken place in the past year, including a site abutting the West Gate Freeway off-ramp, sold for $7.5 million last week.
It was the 65 Haig Street site of just over 1000 square metres which had potential for a 33 level high-rise.
Longtime Southbank developer Central Equity acquired the 54 Kavanagh Street site for $27 million in May.
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Lloyd Williams joins the latest apartment development push at Southbank

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The residential towers at Sydney's One Central Park were voted the fifth best new skyscraper in the world by Emporis, a Hamburg-based building and construction data company.
The “international jury of architecture experts” selected buildings which had been completed in the last 12 months and were at least 100 metres tall, judging them according to “aesthetic and functional design criteria,” according to Emporis. A total of 300 high rise buildings were considered. 
First place went to London’s The Shard, the 87 storey tower which opened in February last year. The tallest building in the European Union, the Shard was designed by Italian architect Renzo Piano with Adamson Associates.
One Central Park was completed in December 2013. Designed by French architecture practice Jean Nouvel with Australian firm PTW, the skyscraper’s standout feature is its plant covered walls, which are set to reach full growth potential at the end of the year. 
PTW director Matt Dobbs said One Central Park was a “dream project to work on.”
“Collaborating with the likes of world renowned architect Jean Nouvel is a once-in-a-career opportunity,” he said.
The other major feature of the skyscraper is Nouvel’s signature cantilever – a suspended beam or structure jutting out from the main building, anchored at only one end. At One Central Park, the cantilever is the tower’s Sky Garden, which extends from level 29 of the East tower.
The Emporis Skyscraper award is now in its fourteenth year. Previous winners include London's 30 St Mary Axe ("the Gherkin" to some), the Kingdom Centre in Saudi Arabia's Riyadh and the Mode Gakuen Cocoon Tower in Tokyo.<a href="https://en.wikipedia.org/wiki/Mode_Gakuen_Cocoon_Tower" title="Mode Gakuen Cocoon Tower"> </a>
The top 10 skyscrapers of the last year, according to <a href="https://www.emporis.com/" target="_blank">Emporis</a>:
<ol>
<li>The Shard, UK <img src="/images/2014/05/22/The_Shard_during_its_opening_laser_light_show_2.jpg" alt=""> Source: Wikimedia Commons 
</li>
<li>DC Tower #1, Austria <img src="/images/2014/06/25/DC_Tower_1_September_2013.png" alt=""> Source: Wikimedia. 
</li>
<li>Sheraton Huzhou Hot Spring Resort, China <img src="/images/2014/06/25/Sheraton_Huzhou_Hot_Spring_Resort_exterior_night_view.jpg" alt=""> Source: Wikimedia. 
</li>
<li>Cayan Tower, United Arab Emirates <img src="/images/2014/06/25/infinity-ex-10.jpg" alt=""> Source: Supplied. 
</li>
<li>One Central Park, Australia <img src="/images/2014/05/22/Fraser05.jpg" alt=""> Source: Supplied. 
</li>
<li>Flame Towers, Azerbaijan <img src="/images/2014/06/25/Baku_Towers_43.jpg" alt=""> Source: wikiarquitectura. 
</li>
<li>Mercury City, Russia <img src="/images/2014/06/25/mercury-city-ine.jpg" alt=""> Source: Supplied. 
</li>
<li>Ardmore Residence, Singapore <img src="/images/2014/06/25/gallery_home_01.jpg" alt=""> Source: Supplied. 
</li>
<li>AZ Tower, Czech Republic <img src="/images/2014/06/25/Brno_tice_Prakova_AZ_Tower_2013-05-21_03.jpg" alt=""> Source: Wikimedia. 
</li>
<li>EQUAL: Nanfung Commercial, Hospitality and Exhibition Complex, China &amp; Tour Carpe Diem, France <img src="/images/2014/06/25/guangzhou-june25-one.jpg" alt=""> Nanfung Commercial, Hospitality and Exhibition Complex, China. Source: Hong Kong Institute of Architects <img src="/images/2014/06/25/Cot_esplanade.jpg" alt=""> Tour Carpe Diem, France. Source: Vincent4617/<a href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">Creative Commons</a>.
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jrichardson-uRX5hFdKfN

Sydney’s One Central Park named one of the world’s best new skyscrapers

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There can be significant tax benefits when investors buy an investment property off the plan.
These benefits are greater for new property with more tax depreciation items available.
It is important to have a schedule of inclusions, such as fittings and fixtures on the sale contract, and then commission a depreciation schedule from a reputable provider.
Off the plan buyers can qualify for a 50% CGT discount but the ATO requires that a period of 12 months elapses before the buyer is eligible.
This period begins when the contract has been signed, so provided your settlement period is 12 months or longer (as it will be in most cases) investors could in theory sell along the way, or the day after settlement and still qualify for the generous tax concession.
But be warned the CGT discount only applies if there are changes in the taxpayers circumstances.
Any property bought with the intention of selling it at a profit as soon as it is completed, does not qualify as an investment but as part of a profit-making scheme, so normal income tax would apply.
Ken Raiss, partner at Chan &amp; Naylor Accountants, has pointed out in the past that buying with the intention to sell the sale would still be taxed at marginal tax rates even if you keep it for much longer than 12 months.
If you originally intended to keep the property but decide to sell due to unforeseen circumstances (say, after six months), it is still considered a capital gain but is not subject to the 50% CGT discount.
This means you will still be taxed at your marginal tax rate. This could be advantageous if you have capital losses.
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Tax planning for off the plan apartment purchasing

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In Coolangatta, the construction of a $85 million 25-level residential tower and will total 28 new apartments, with 10 offered to the Australian market, will soon be complete.
The development, <a href="https://sanbano.com.au/" target="_blank">Sanbano Coolangatta</a>, has its marketeers calling it the "Palazzo Versace of the southern Gold Coast" and will come with an appropriately hefty price tag – a minimum $2.72 million for a whole floor apartment.
The development, from Marine Parade Holdings - a wholly owned subsidiary of Chinese-based Sanbano Group - includes a putting green, concierge service, private residents’ dining room, Club Lounge and fully furnished apartments.
They have also been creating <a href="/news/sanbano-southport-tower-to-rise-51-storeys-over-gold-coast">a $100 million called Sanbano Southport</a>.
CBRE residential sales manager, Chris Liftin, said that the developer wanted to complete the building before offering it for sale.
“The developer took the view that prospective buyers should be able to see more than a brochure so he elected to build the development before embarking on a marketing campaign and produced a fully furnished display apartment on level eight so people could see what they were getting,” said Litfin.
“Sanbano is so exclusive and such a rare opportunity that we are taking bookings for people to view the display apartment and experience first hand the views on offer.”
It is on 1,006 square metres that includes views of Coolangatta Beach, the Pacific Ocean and up to the Surfers Paradise skyline.
Views form level 13:
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The apartments will include luxury furniture packages and high end finishes.
The apartments are 316 square metres over an entire floor. They have three bedrooms, three bathrooms and additional media rooms, with each bedroom having an ensuite.
Within the development, other apartments range from 110 square metres for two-bedrooms, to 175 square metre two-bedroom, two-bathroom offerings that will potentially be sold at a later date.
DBI Architects designed the building, with furniture and fittings from The Interior Space.
Note: This article has been amended. It originally incorrectly stated that construction was about to begin, not finish.
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Chinese developer creates the "Palazzo Versace of the southern Gold Coast"

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Lend Lease secured the off the plan sellout of all 357 Sydney apartments in the first stage of its Darling Square<a href="https://www.darlingsq.com" target="_blank"></a> residences, totalling at least $500 million, with revenue estimates as high as $650 million.
Set on the doorstep of Darling Harbour, Haymarket, Chinatown and Ultimo, the entire <a href="https://www.darlingsq.com" target="_blank">Darling Square</a> project will comprise 1,400 apartments, 20,000 square metres of campus-style offices and retail around a new town square. There will be an estimated 3,200 new residents, plus 1,000 students in student accommodation and 2,000 workers in the mixed-use precinct which will be part of the Darling Quarter redevelopment by Lend Lease on the edge of Darling Harbour. 
Marketed as "Sydney's newest Darling," prices ranged from $700,000 for a 50-square-metre, one-bedroom ­apartment to $3.5 million for a 130-square-metre sky home through CBRE in Darling Square which will have apartments on which SJB and DCM have collaborated.
About 25% of apartments were sold to offshore ­buyers.
The proximity to UTS encouraged purchasing by Chinese families.
Construction of the 40-storey apartment block and seven-storey block will be completed in 2017.
It is among the three towers to be built on the site of the Sydney Entertainment Centre and car park at Haymarket.
The entire precinct is due for completion in 2020. 
The Lend Lease executive project director, Rob Deck reported more than 5,000 inquiries before Saturday's public launch.
Last August, Lend Lease secured the same day sellout of the first stage of Barangaroo - 159 apartments - which secured some $300 million worth of sales.
Meanwhile Grocon and Markham Corporation have approval for their $700 million redevelopment of the Imax theatre in Darling Harbour, Sydney, into the proposed office/retail and entertainment complex, The Ribbon. It will involve the demolition of the Imax tower replaced by a 20-storey building.
 
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Darling Square first stage sellout by Lend Lease

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Innovative plans are among the five Australian finalists shortlisted from 144 entries in the City of Sydney’s competition to design the Green Square Aquatic Centre and neighbouring Gunyama Park.
The shortlisted entries add green touches to habitats lost during Zetland’s industrial expansion. 
The five finalists are:
Andrew Burns Architect – Sydney Cullinan Ivanov Partnership – Sydney CHROFI &amp; McGregor Coxall – Sydney Andrew Burges Architects – Sydney TYP-TOP Studio (Andrew Daly and Kevin Liu) – Sydney
Scenarios depicted within some of the final designs include  a picket-fence reminder of old cricket fields, a grand central foyer with sprawling views, swimming pools sunken amid revived wetlands, a beach and boardwalk, and connected pools that can be rearranged for fun.
Lord Mayor Clover Moore said the number of high-quality entries was a testament to the City of Sydney’s commitment to design excellence.
“Green Square is Australia’s biggest urban development and one of Sydney’s fastest growing and most exciting new communities,” the Lord Mayor said.
“With 40,000 residents and 22,000 workers on the way, the City is moving ahead with the construction of new community facilities. Our new aquatic centre, parks and library will be at the heart of this growing community.”
Located on Joynton Avenue, opposite the former South Sydney Hospital, the aquatic centre will house an outdoor 50 metre, an indoor 25 metre pool, a leisure pool, a hydrotherapy pool and a gym.
The aquatic centre and park will form part of the commercial, retail and cultural heart of the $8 billion greater Green Square redevelopment on the city’s southern fringe.
An independent jury selected the five finalists in the design competition. The second stage over the next 10 weeks requires the finalists to prepare more detailed designs and carry out cost assessments.
The jury will recommend a winner to Council with an announcement expected later this year.
 The five members of the Aquatic Centre and Gunyama Park Competition Jury are:
Chair: Carey Lyon, architect – Director of Lyons, an award-winning architecture and urban design practice based in Melbourne; acknowledged leader in urban design, sustainability and the design of research/learning environments.
Professor Richard Johnson MBE AO, architect – Director of Johnson Pilton Walker, an award-winning architecture and urban design practice based in Sydney; Life Fellow of the Australian Institute of Architects; RAIA Gold Medalist;
Camilla Block, architect – Director of Durbach Block Jaggers, an award-winning architecture and urban design practice based in Sydney; acknowledged design leader for residential, commercial and civic projects;
Professor Gini Lee, landscape architect – Elisabeth Murdoch Chair of Landscape Architecture, University of Melbourne; registered landscape architect; member of City of Melbourne Parks &amp; Gardens Advisory Committee; and
Greg Holman, architect/aquatic buildability and construction – Principal Architect at Harry Seidler &amp; Associates, in charge of the winning design and construction oversight of the Ian Thorpe Aquatic Centre in Sydney. 
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Five finalists shortlisted for City of Sydney’s Green Square Aquatic Centre designs

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Probuild has been selected to construct the latest expansion at the Chadstone Shopping Centre in Melbourne.
It will add an office tower along with extension to the retail with the capacity for a future hotel.
Probuild has completed every major stage of the shopping centre since 1989. Work on the 29th stage starts this month.
The prior 28 stages have occurred over 21 years of transformation.
The project for CFS Retail will add 34,000 square metres taking it to more than 212,000 square metres.
Probuild is one of Australia’s largest construction companies, with an annual turnover of $1.5 billion and a staff of 1,100 nationally.
Image courtesy of Alpha/Flickr/<a href="https://creativecommons.org/licenses/by-sa/2.0/" target="_blank">Creative Commons</a>.
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Chadstone expansion project goes to Probuild

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A top floor Hawthorn East penthouse  in the Aerial development is on the market, seeking a $3.8 million buyer.
The 901/480 Riversdale Road, Hawthorn East, <a href="https://www.aerial.com.au%20" target="_blank">Aerial Apartments</a> penthouse is being sold through Melbournia Group and is 260 square metres internally plus a 128 square metre wrap-around balcony.
Covering the entire top floor of the Aerial Apartments development, it includes four bedrooms, four bathrooms and four underground car parks, with a northerly aspect.
The Aerial development included 144 one-, two- and three- bedroom apartments, as well as a number of sub-penthouses. It is two towers, up to 14 levels in the tallest. At street level, the towers include retail tenants.
The development went off to a rocky start, being <a href="/expert-insights/buying/completion-of-fkp-s-apartment-project-aerial-in-camberwell-junction-delayed">delayed in 2012 due to weather and union issues</a>.
It was <a href="/news/vic/fkp-completes-construction-of-delayed-aerial-apartment-project-in-camberwell">finally complete in November 2012</a>.
With city skyline views, the penthouse comes furnished and is complete – offered in the final collection launch for the development.
Luxury features include ceilings up to 3.8 metres high, a stand-alone bathtub, a private lobby entrance and an integrated sound system.
The building was designed by Wood Marsh, and developed by AVEO Group, and offers a communal dining room, 24 hour concierge, a 12-seat cinema and a roof top pool and sun deck.
Melbournia Group’s Zoe Zhu said that it has had no expense spared and includes a kitchen that’s over double the size of a standard offering.
“The purchasers of this top level penthouse will be just moments from the region’s top private schools, prestigious shopping strips, incredible cafés and restaurants, the iconic Camberwell market and more,” noted Zhu.
“This penthouse represents the jewel in the crown of Aerial apartments and as such it had been held back from the market until recently after the building reached completion as we knew this apartment had to be seen to be believed.”
The penthouse is open for inspection by appointment.
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