Mulpha signs green loan for masterplanned smart city

MULPHA International has secured a $160 million green syndicated construction facility from ANZ and CEFC for its Norwest Quarter development in Sydney.

The green syndicated construction facility is to finance the construction of Stage 1 of the $1 billion masterplanned smart city, located around 35km out from the Sydney CBD.

The first stage of the zero-carbon residential and retail precinct. will comprise 196 apartments across two residential buildings within a 9,8450sqm site, in addition to retail and commercial space.

While the completed Norwest Quarter development will span more than 3.8-hectares and include more than 2,000 residents, over nine residential towers with 864 apartments.

The masterplanned community will include 70% of the site reserved for landscaping, as well as 6,000sqm for retail, hospitality and childcare offerings.

Mulpha lodged a development application for Norwest Quarter in mid-2021, with the project is amongst the country’s first developments of its kind to deliver full life-cycle sustainable design principles from conception through to its construction and long-term operations. With apartments set to consume a third of the energy of a typical code compliant unit.

Mulpha was set to work with environmental sustainability firm Finding Infinity on the Bates Smart and Smart Design Studio-designed apartments.

With Norwest Quarter designed to reduce the impacts of the urban heat island effect, through re-willding of the natural landscape, while also targeting zero waste to landfill and include rainwater harvesting and water recycling.

The mixed-use residential apartment project began construction delivered by Parkview Construction in August last year.

In May 2022, Mulpha reported to selling more than a third of the first released apartments at the development, in the same month the group received DA approval for the project.

The development is by the indirect wholly-owned subsidiary of Mulpha International, Mulpha Norwest Quarter.