For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Property Connect

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Australian group Property Connect has agreed a deal to be the exclusive agency to license and market the a sales auction and rental platform in the Gulf Corporation Countries (GCC).
The agreement with Pipeline Marketing Management LCC (Pipeline) will cover countries including Bahrain, Kuwait, Qatar, UAE, Oman and Saudi Arabia.
Pipeline will provide a range of services to assist the company to launch its LiveOffer platforms in the GCC.
The technology allows potential tenants to make an online offer on a rental property, with the company claiming that this helps reflect fair market value for properties.
As the company’s exclusive agent in the GCC, Pipeline will aid in property developer and purchaser relations and business development activities.
Pipeline will earn commission based on annual sales volumes on the LiveOffer sales auction platform in the GCC ranging from 10% - 15% of the licence fees received by the company for annual sales of $5 million to $15 million plus.
Property Connect has agreed to complete all customisations to its LiveOffer sales auction platform necessary for the GCC within 30 days.
The company has been working with Damac Properties to introduce its property listings to the platform.
Darren Patterson, CEO of Property Connect, said the company is now well positioned to generate revenue.
"We are very pleased to have finalised this agreement with Pipeline and move forward on the expansion of the LiveOffer sales auction and rental platforms into the GCC," he said.
"The company is now well positioned to generate revenue in a highly scalable manner from our industry leading platforms, providing a return to shareholders from our technology investment made to date."
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Property Connect secure exclusive agreement in Gulf countries for online property platform 

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Property Connect CEO Darren Patterson has said property in Australia is "right for disruption" in an interview on the Finance News Network earlier this month.
Patterson was talking about LiveOffer, the technology which allows potential tenants to make an online offer on a rental property.
Property Connect are also moving into doing online auctions for property sales, as well as planning to add a mortgage origination service.
Patterson told <a href="https://www.finnewsnetwork.com.au/" target="_blank">Finance News Network</a>'s Rachael Jones that property technology is very fragmented in Australia and other markets.
"We believe we’ve got the solution that can add value and we can extrapolate from," Patterson said.
"The market is controlled by agents that operate in a franchise model. The two dominant portals take a lot of value out of that chain. And we believe that marketplaces that provide transparency, real time transactional services, will provide value for landlords, renters, vendors and purchasers in that space.
"We believe that marketplaces that provide transparency, real time transactional services, will provide value for landlords, renters, vendors and purchasers in that space."
Patterson said much of the technology is built, but hasn't been implemented for all property types.
"We’re ahead of plan, we recently did a placement, our technology platform on the rental side is built. The auction piece we just recently announced is ahead of plan as well, we’re now in licensing and commercialisation phase," Patterson advised.
The new online rental auction platform is designed to provide transparency and a seamless process, for both the landlord, the tenant and the property manager.
"The tenant, or prospective tenant, can actually control their move-in day, the term of the lease and the amount they want to offer per week," Patterson suggested.
"Sometimes you see tenants turn up to highly sought after properties and there maybe 10/15 people. This gives them a full view and transparency as to where their offer is, in the market. And it allows the property manager to effectively communicate with the landlord, and decide who’s the optimum tenant for the property."
Patterson said they're about to move into providing construction development finance and residential mortgages, something he says they believe will help facilitate the entire property transaction.
Property Connect are targeting the transient markets where renters move between states frequently.
"We see that emerging in Australia, particularly as developers look to build, to let and develop property funds.
"We see that in high-density areas like Hong Kong, Singapore and the Middle East. And we’re rolling out a lightweight sales model, which is focused around licensing in those markets with partners."
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Property Connect Holdings CEO explains why LiveOffer is going to make waves

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Clearmatch has agreed to licence its technology and platform to Property Connect as they develop fractional peer to peer lending products focused in the property sector, especially project development financing.
The disruptive realty services group, Property Connect Holdings has entered a five-year licence agreement to use a technology platform powered by marketplace treasury company Clearmatch, in the development and marketing of its own lending products designed to ease property market transactions.
The agreement allows Property Connect to use the SocietyOne platform owned by Clearmatch to develop products focused on the emerging project development finance and residential mortgage sectors within the private peer-to-peer lending market.
Property Connect’s new lending products will target, and generate revenue from, end users including property developers, financiers, investors and owners.
Property Connect will be licensed to operate a white-labelled version of the Clearmatch platform combined with its own LiveOffer auction platform to enable automatic financing, either prior to bidding or during the purchasing process.
<a href="/news/property-connect-to-market-liveoffer-rental-and-sales-platform-in-dubai">The LiveOffer facility</a> was introduced to create an easy, fair and transparent system under which purchasers and tenants are able negotiate the best offer on a property for purchase and or rental.
Using LiveOffer, potential tenants can submit their application for a property and let the property owner or manager know details such as how much they are prepared to offer, when they can move in and the rental duration.
Tenants can view the progress of their application, track applications online or update their offers as necessary, while property owners and managers can view applications, review terms and liaise with relevant parties during the tenant approvals process.
The Clearmatch heads of agreement compliments <a href="/news/property-connect-partners-with-one-of-uaes-largest-private-developers">a global referral and finders partnership</a> announced last month between Propery Connect Holdings and Dubai-based Damac Properties, one of the largest private developers in the United Arab Emirates.
Property Connect will use its LiveOffer platform to promote and sell Damac’s portfolio of developments in the UK and Gulf Co-operation Council countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE.
Damac has established relationships with global leading luxury brands including Fendi, Bugatti, Paramount Studios, Trump, Cavalli, Versace and Tiger Woods.
Its properties range from investment-grade studios to luxury apartments and villas within entire communities providing services including shopping malls, schools, medical centres and sporting facilities such golf resort living.
Property Connect chief executive officer Darren Patterson said the opportunity to support Damac’s portfolio has been a major coup for the company.
“Dubai is hosting the World Expo in 2020, and the level of investment in infrastructure and real estate development in the region is unprecedented,” he said.
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Clear Match and Property Connect move towards crowdfunded lending targeting property developers

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Property Connect has entered into a global referral and finders' agreement with Damac Properties, one of the largest private developers in the UAE.
Under the agreement, the ASX-listed Property Connect will promote and sell Damac’s portfolio of developments in the Gulf Cooperation Council countries (GCC) and UK on the company’s Live Offer auction platform.
Property Connect recently entered into an <a href="/news/property-connect-to-market-liveoffer-rental-and-sales-platform-in-dubai">agreement to launch LiveOffer</a> in the GCC - Dubai and surrounding areas.
Property Connect's LiveOffer™ technology allows potential tenants to make an online offer on a rental property, thus creating a fair market value for properties.
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Darren Patterson, CEO of Property Connect said it is an "amazing opportunity" for Property Connect.
"Dubai is hosting the World Expo in 2020, and the level of investment in infrastructure and real estate development in the region is unprecedented. 
"This presents a unique moment in the property cycle for investors and real estate developers, and Property Connect is very fortunate to be the only Australian company to be engaged by Damac. 
"We are very excited to be working with Damac and the opportunity to utilise the Live Offer auction platform in such a dynamic environment.” 
Damac is one of the largest private developers in the UAE and has established relationships with global leading luxury brands including Fendi, Bugatti, Paramount Studios, Trump, Cavalli, Versace and Tiger Woods. 
Damac’s properties range from investment grade studios to luxury apartments and villas within entire communities providing services ranging from shopping malls, schools, medical centres and sporting facilities such a golf resort living. Damac also provides market leading financing, instalment plans and rental yield guarantees. 
The agreement is for an initial 12 month term.
 
 
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Property Connect partners with one of UAE's largest private developers

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Property Connect has entered into an agreement with Pipeline Marketing Management to market the LiveOffer platform in the GCC – Dubai and surrounding countries.
Property Connect's LiveOffer™ technology allows potential tenants to make an online offer on a rental property, thus creating a fair market value for properties.
It keeps landlords and perspective tenants updated on the market appraisal of the rental offering.
The GCC licence will allow Property Connect to distribute LiveOffer Rental and Auction products in a cost effective manner into a market renowned to be notoriously difficult to rent properties efficiently.
The market has a highly mobile international sales and tenancy base.
The LiveOffer platform is ideally suited to high density markets such as Dubai and other GCC countries, whilst also being able to integrate with emerging Blockchain solutions, Darren Patterson, CEO of Property Connect said.
The company continues to also discuss similar strategic partnerships in Singapore, Hong Kong and Malaysia.
Property Connect noted the rental and sales markets in Dubai and the surrounding GCC countries had softened in the past 12 months.
It suggests the transparency and efficiency provided by the LiveOffer platform can provide significant cost advantages to these markets.
The initial two year partnership can be extended. The agreement is subject of satisfaction of several conditions, including obtaining all local regulatory approvals, due diligence and execution of formal documentation.
Pipeline is a business-to-business sales and business development organisation established by leading sales specialists, with over 50 years combined experience operating in the GCC.
They have a track record of market expansion and sales development for several leading enterprise companies, and deep local relationships.
As a term of the GCC Licence, the parties will explore additional opportunities with leading real estate agencies, developers, property portals, property investors and sovereign wealth funds in the GCC.
The parties believe there are opportunities in the GCC for the commercialisation of additional products developed by Property Connect.
The company has obtained preliminary legal advice confirming the LiveOffer platform can operate in the GCC, subject to obtaining all local regulatory approvals.
In addition to this, the Dubai Land Department has committed to becoming the world’s first end to end Real Estate Blockchain transaction marketplace.
This is aligned with the company’s objectives of simplifying and making real estate transactions more transparent and cost effective. The company is exploring direct involvement in this initiative as well as facilitating online property auctions with local developers and the government.
Darren Patterson said the licence was "the perfect way for Property Connect to efficiently scale its sales and distribution of the LiveOffer platform," whilst also establishing a wider investor base and support for future products in the company’s development pipeline.
"We anticipate this to be the first of several such licences for the LiveOffer platform internationally and domestically which will create material shareholder value.”
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