This article is from the Australian Property Journal archive
DEVELOPER Devine is abandoning its detached housing business to focus exclusively on medium density and integrated housing products.
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The restructure will see Devine’s operations split into three divisions; Communities (land development and integrated housing), Development (apartments and mixed use projects) and Construction (residential apartment construction).
Managing director and CEO David Keir said the company will complete its existing pipeline of detached housing starts, both under construction and those under contract, and customers will not be affected.
“Devine is in communication with its clients, suppliers and project partners assuring them that the Company will fulfil its current detached housing construction obligations,” he adds.
Keir said the decision would ensure the company’s housing business continued to build on the improved performance of the last 12 months.
“We are confident that this shift will place Devine in a stronger, more competitive position in the future,” Keir concluded.
Australian Property Journal
