This article is from the Australian Property Journal archive
AVID Property Group has taken ownership of Gold Coast based residential developer Villa World, positioning the combined business amongst the top 10 land developers in the Australia.
The $410 million acquisition takes Avid’s portfolio from 10 to 37 projects and more than 12,000 residential lots, securing a gross revenue pipeline of $4.7 billion.
“Today marks a significant milestone for both AVID and Villa World – as we come together as one business, substantially increasing our market share and broadening the range of house and land offers for future home buyers,” Avid chief executive officer, Cameron Holt said.
Holt remains at the helm of the new combined business.
Earlier this week, Villa World announced the purchase of 1.94 hectares of land in Southport to develop a $42 million townhouse community.
Avid and Villa World will continue to operate under both brands.
