The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <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> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Wanda Group

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The Sydney developer Yuhu Group has been confirmed as the buyer of the two Australian property jewels being developed by the Chinese conglomerate Dalian Wanda.
The company have paid a reported $1.13 billion for the Sydney and Gold Coast residential and hotel mixed-used projects.
Yuhu struck its deal in Hong Kong on January 18.
"Yuhu has faith that these two projects will inject new employment and boost the local economy," Yuhu founder and chairman Huang Xiangmo told Fairfax Media, where two reporters claimed to have broken the news exclusively.
Yuhu was the reported buyer in The Australian two weeks ago.
Yuhu is a local developer which is committed to investing in real estate and other developments in Australia, the group confirmed overnight.
</div>
<div class="cq-article-content-media section"><img class="lazy620x0" src="https://www.afr.com/content/dam/images/g/y/w/u/p/q/image.imgtype.afrArticleInline.620x0.png/1507503772918.jpg" alt="In one the apartments at One Circular Quay. " width="620" height="378" data-src="https://www.afr.com/content/dam/images/g/y/w/u/p/q/image.imgtype.afrArticleInline.620x0.png/1507503772918.jpg"></div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The purchase price for the two highly desirable real estate assets is made up of a cash component of $315 million alo with the presumed debt of $815 million.</div>
<div class="cq-article-content-paras section">
Forty-five per cent of the Gold Coast project Jewel was owned by Chinese-backed group Ridong. It has also sold its interests in the sale to Yuhu.
An independent valuation of the two projects put them at a total value of $1.12 billion, Dalian Wanda said in a release to the Hong Kong Exchange on Monday night.
Dalian Wanda came under pressure by the Chinese government to crimp its overseas investments. 
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<div class="cq-article-content-paras section">
Forty per cent of the Jewel apartments have sold, with the joint venture struggling to achieve similar sales rates achieved by many developers during the housing boom in the past five years, according to the Australian Financial Review 
Yuhu is in no rush to complete the sales of apartments.
<div class="cq-article-content-media section">The company has extensive developments and investments in Sydney.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">They include the Eastwood shopping centre, which it has plans to redevelop.</div>
<div class="cq-article-content-media section">There is also the North Sydney residential tower, The Miller, which it is developing, and the Bakehouse Quarter in Sydney's inner west which it bought for $380 million last year. </div>
<div class="cq-article-content-paras section">
Mr Huang says the residential market in Sydney continues to show strong fundamentals.
It also advised its plans to retain the penthouse atop the Circular Quay residential tower, which Dalian Wanda was said to have received an expression-of-interest offer of $100 million.
As a local company Yuhu did not require Foreign Investment Review Board approval.
Yuhu is controlled by Mr Huang - an Australian permanent resident - and his family members, who are Australian citizens.
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j.ballantyne1990-6AQqhLzZaK

Yuhu Group scores Dalian Wanda's Sydney and Gold Coast jewels for $1.13 billion

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China's Wanda Group headed by the tycoon Wang Jianlin has sold its One Circular Quay development, along with its Gold Coast Jewel development.
 Wanda Australia's managing director, John Wei, negotiated the sale of the Circular Quay site (above).
Wanda started demolishing the Gold Fields tower at No.1 Alfred Street for a mixed-use scheme incorporating a five-star Wanda Vista Hotel, 190 exclusive private residences, and boutique retail premises last November having paid $425 million three years earlier.
It had been seeking prestige apartment buyers at One Circular Quay since last October, but the display suite has been closed to most inquiry over the Christmas break.
The Jewel (below) sales had been slow since 2015 at the project which Ridong has also sold out of this week.
Dalian Wanda Group announced the sale of their two Australian property projects as the Chinese firm looks to lessen financial strains caused by a major acquisition spree. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/25/GC%20WANDA.jpg" alt="">
China’s regulators last year told banks to stop providing funding for several of the conglomerate’s overseas acquisitions, sources have said, prompting a string of asset sales by Wanda, whose businesses range from real estate to football and cinemas, including Hoyts. 
The two high-end residential and hotel projects under development have been sold at around cost. 
No buyer has been revealed, although The Australian newspaper reported last week that property developer Yuhu, which is backed by Chinese investors, had entered into exclusive talks with Wanda to buy the assets in a deal at around A$1 billion. Yuhu has consistently denied its involvement in any purchase.
Shares in Wanda Hotel Development Co Ltd, which owns the projects, are in a trading halt.
The sale of the Australian projects comes after Wanda’s announcement last week that it had agreed to sell its interests in the high-profile London luxury development project, One Nine Elms, for 59 million pounds ($81 million).
The Chinese conglomerate Dalian Wanda Group advised last weekend its revenue dropped for a second consecutive year, by 10.8 percent in 2017.
It reported 227.4 billion yuan in revenue, while net profit remained flat compared with 2016, according to a statement posted on the company’s website. It did not reveal the profit figure. 
In middle of 2017, Wanda came under the scrutiny of China's banking regulator for posing "systemic risks" to domestic lenders with its overseas deals.
The Chinese authorities viewed some of its acquisitions as "irrational" and a method for moving capital out of the country.
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Wang Jianlin, chairman of Dalian Wanda Group claimed that only 7% of Wanda's assets were located overseas.
"Wanda Group will never have any default globally," Wang, a former soldier, said.
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Gold Coast Jewel and Sydney's One Circular Quay development sold by Wanda

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Chinese property and entertainment giant Dalian Wanda have said from time to time they ascertain interest in its property projects. But they deny this week's report by the South China Morning Post that Wanda were offering to sell five of its biggest overseas properties in the UK, US and Australia.
Wanda suggested that they were "approached by third parties from time to time" in a statement posted to the Hong Kong stock exchange.
“Following the recent changes in some directors of the Company, the Company is undertaking a strategic review of its property projects and will consider any business opportunities which can create value for shareholders,” the statement read.
They were supposedly seeking a single buyer who would stump up $6.6 billion (US$5 billion).
In August the group had to come out and deny rumours they were selling their Gold Coast and Sydney projects, which comprise $2 billion of the $6.6 billion portfolio.
They rubbished the rumours a day before they restructured their Australian projects, selling them to a private entity controlled by the company's founder, Wang Jianlin
Last month they started marketing One Circular Quay, their Sydney project overlooking the harbour (above).
Their Gold Coast project (below) is yet to be marketed.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/22/Wanda2.jpg" alt="">
 
 
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Dalian Wanda ascertain interest in its property "from time to time"

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Chinese developer Wanda have begun marketing the apartments in their luxury One Circular Quay development.
They are marketing the Sydney building as Australia's most prestigious residential development (below).
The flagship $1 billion project was officially launched at the Museum of Contemporary Art in April.
There are $60 million expectations for the luxury penthouses.
The 57 storey tower will comprise 184 apartments and a 179 room hotel.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/13/OneCircular.jpg" alt="" style="font-size: 12.16px;">
Wanda are also developing Jewel resort, a $1 billion Gold Coast project.
There were suggestions in August the group were in discussion to sell the two projects worth nearly $2 billion after it was announced they faced a lending freeze ring from Chinese Government controls.
They quickly dispelled the rumours and said the projects were on track, calling media reports "incorrect."
“Having made such enquiry internally as is reasonable in the circumstances, the company wishes to clarify that, as of the date of this announcement, the company does not have any plan to make the said disposals referred to in the media reports, and thus such information is incorrect. Both projects are progressing as planned,” Wanda said in a regulatory announcement
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/13/Cricular1.jpg" alt="">
However shortly after the market was advised there was an internal ownership realignment.
The apartments are expected to be multi-million-dollar offerings from 50 sqm studios to four penthouses of 600 sqm.
CBRE are asking potential buyers to book private appointments to inspect the display suite.
Wanda claim the development was in an “absolutely unbeatable position” to set a new benchmark for location, quality and price.
The development on the 4,000 sqm site of Gold Fields House, purchased by the conglomerate in 2015 for $415 million, will also include a five-star hotel expected to be operated under the Wanda Vista brand.
The development has a 2020 completion date.
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jrobinson-rf4aSBido9

Troubled Chinese developer Wanda moves to sell off the plan apartments in One Circular Quay

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A majority interest in the two flagship Australian developments of China's Wanda Group are to be sold to a private entity controlled by the company's founder, Wang Jianlin.
Just two days after Wanda labelled an Australian Financial Review report that is was considering a sale "completely false", the company announced the "disposal" on Thursday morning.
While the assets are being sold to a related private entity controlled by Mr Wang, one investment advisor said it was likely to be the first step in broader reorganisation of the assets.
"He [Mr Wang] has a history of taking a two-step approach to acquisitions so this looks like it's going in the opposite direction," said the person.
The announcement said the Hong Kong-listed Wanda Hotel Development will sell a 60 per cent interest in its $1 billion Circular Quay apartment and hotel tower in Sydney and its $900 million Jewel resort on the Gold Coast to Mr Wang's company, Wanda Commercial Property.
The deal should allow the Hong Kong-listed company to lower its debt levels and give Mr Wang time to reorganise the assets away from the glare of the public market.
Shares in Wanda Hotel rose as much as 41 per cent on Thursday after the asset restructuring plans were announced.
The listed vehicle is also selling its 60 per cent interest in Wanda's Chicago and London developments.
The final terms are yet to be announced, but the company said the sale price would be based on net asset values based on an independent valuation.
Wanda Hotel is also buying US$1.1 billion in assets from related entities to the group and Mr Wang. These include Wanda Culture Travel Innovation Group, which designs and constructs theme parks and Wanda Hotel Management, which designs and operates hotels.
Wanda has had its wings clipped by Beijing in recent weeks as concerns mount that it, and other private companies, have over paid for foreign assets and these now pose a systemic risk to the Chinese banking system.
Other companies targeted by authorities include the HNA Group, which holds a 13 per cent stake in airline Virgin Australia; Fosun Group, which is developing apartments in Brisbane and Sydney; and Anbang Insurance, which bought New York's Waldorf Astoria in 2014.
The crackdown is expected to filter down to smaller private companies and state-owned enterprises as Beijing worries about offshore deals going bad and capital outflows putting downward pressure on its currency.
It is also looking to avoid a Japan-style collapse, which followed an offshore acquisition binge by Japanese firms in the late 1980s and early 1990s.
China's outbound investment fell 43 per cent over the first half of this year and its Vice Minister for Commerce Qian Keming said last week that "irrational" offshore investment had been contained.
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Wanda restructures Australian projects

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Wanda Hotel Development Company Limited has said its billion-dollar projects in in Sydney and the Gold Coast are on track, calling media reports about talks of exiting them as “incorrect”.
“Having made such enquiry internally as is reasonable in the circumstances, the Company wishes to clarify that, as of the date of this announcement, the Company does not have any plan to make the said disposals referred to in the Media Reports, and thus such information is incorrect. Both projects are progressing as planned,” Wanda said in a regulatory announcement. 
Earlier media reports had said that Dalian Wanda was in talks in Hong Kong for the sale of its Circular Quay apartment and hotel tower in Sydney and the Jewel resort on the Gold Coast, both valued around $1 billion each.
Wanda had also said previously that its Gold Coast project was on track despite Beijing asking the country’s major banks to stop lending to the developer.
Its Sydney CBD project includes a dual-tower development in Circular Quay by 2020.
In a statement to the Hong Kong Stock Exchange, Wanda said construction of the two projects was moving forward smoothly, and apartment sales were strong.
Earlier, The Australian Financial Review had reported citing two sources that the group was looking at possible exits from both projects after lending problems.
Property Observer had reported in January that Tower Three of Wanda Ridong’s Gold Coast development project had registered more than 120 prospective buyers.
The three towers will have 512 apartments, a 169 suite six-star hotel as well as retail and culinary precincts.
In Sydney, One Circular Quay will be a 60-storey glass and stone residential building designed by Kerry Hill Architects.
The Crone Architects and Kengo Kuma Architects-designed five-star hotel will have 28 levels and just 181 rooms.
It is part of Dalian Wanda’s $1 billion redevelopment of Gold Fields House at 1 Alfred Street, Circular Quay.
For the 57-storey residential tower, the Beijing-based conglomerate expects its luxury penthouses could sell for more than $60 million, setting a new price record.
 
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Wanda says Gold Coast, Sydney projects on track, media reports of sale incorrect

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The giant Chinese conglomerate, Wanda Group and its online payment platform, 99 Bill, have introduced China's first commercial property crowdfunding project called "Stable Earner No.1."
As Wanda's first Internet finance product, "Stable Earner No.1" is a product based on Wanda plazas. 
Funds raised will be directly invested in the construction of Wanda plazas in each city. 
Investors will be awarded with the right to profits from such plazas and enjoy double returns including shop rental and added value of properties of Wanda Plazas. 
The expected annualized rate of return may reach over 12%.
"With a minimum initial investment amount of Rmb1,000 , this project is revolutionary as it lowers the traditional minimum investment thresholds of commercial property, making it possible for ordinary investors to own quality property and share the hefty investment returns with leading commercial property developers," the company press release advised..
Wanda boasted of its mature and professional ability as well as experience to operate and manage commercial real estate.
"Each Wanda Plaza is where people are concentrated and is extremely popular among merchant partners.
"In terms of commercial management, Wanda has set world records that occupancy rate and rental collection rates have both exceeded 99% for many years.
"In addition, the "city center" effect implies great potential of property appreciation after a Wanda plaza is constructed.
"All of this provides reliable guarantee for investors to gain stable and sustained high profit."
Fundraising will be from June 12 to June 15 2015. Investors can view project details by logging in 99 Bill platform or downloading 99 Bill wallet APP.
Investors may opt to cash out of and sell their investment three months after the establishment of the project, the first meaningful financial innovation project in the Shanghai Free Trade Zone and in China.
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