This article is from the Australian Property Journal archive
CHINESE-backed developer Dahua Group Melbourne has acquired 113 hectares of land on Melbourne’s northern fringe, which it has earmarked for a residential project with an end value of up to $500 million.
The site comprises two landholdings, of 56.44 hectares and 57.16 hectares respectively, believed to traded at around $70 million.
It is expected to accommodate around 1,400 land lots and more than 4,000 residents. The group now has 14 projects across 10 Melbourne locations.
Late last year Dahua paid a mammoth $360 million for three sites in Melbourne’s western growth suburb of Point Cook, which was a record Melbourne land sale amount before China’s third largest developer, Country Garden, purchased a 363-hectare Wyndham site for $400 million in July.
Australian Property Journal
