22 Apr '15, 6am

Far East developing A$200m Melbourne project

Comment E-mail to friend Bookmark & Share In a bid to cash in on the growing demand for Australian property, Far East Organization (FEO) has started construction on a A$200 million residential project in Melbourne’s northeast around 30 years after acquiring part of the site, reported the media. FEO first acquired part of the land in St Helena in the mid-1980s and subsequently bought the adjacent plot in 2013, bringing the site’s total area to 19ha. The group plans to build around 250 housing units on the site. With the sales process set to begin by year-end, the project marks the company’s first foray into the residential market there. FEO had been purchasing several office buildings in Sydney over the last two years which were earmarked to be developed into apartment towers in the long term. According to Fang Ai Lian, chairwoman of FEO’s Australian division, the company i...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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