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Aoyuan International reports $100M in site acquisitions including new land play

11-Dec-2017


Aoyuan International has rounded out 2017 finalising three acquisitions valued at more than $100M, further entrenching itself in the Australian market and indicating plans to diversify beyond apartments.

This brings the value of their active development pipeline to $600M. 

For the first time, the company has looked outside its traditional apartment preference to expand its portfolio with a land subdivision at Bargo in the foothills of the Southern Highlands.

Meanwhile the company’s apartment footprint also continues to grow with new sites secured in Burwood and Hurstville, boasting major mixed-use residential, hotel and retail potential.

“I suspect we are one of the more active Chinese property developers in the market at the moment when you consider the number of projects and apartments we now have physically out of the ground as opposed to in market,” says Adrian Liaw,

Director and Vice President of Aoyuan International and Head of the Australian Operations and Projects.

Already three of the company’s key projects are well under construction. Maison 188 Maroubra and Mirabell in Turramurra are targeting a mid-end 2018 completion, with One30 Hyde Park on track for completion in early 2019.

“We’re moving very quickly to the delivery stage and have partnered with wellregarded, solid Australian construction firms to ensure the quality outcome we have built our reputation on,” he said.

The Hurstville property, bound by Forest Road, Durham Street and Roberts Lane sits within five minutes of Westfield Hurstville and close to both Hurstville and Allawah Station. It has the potential for 330-350 apartments a 110-130 room hotel, and ground floor retail. It’s expected the project will come to market in 2019/2020.

The Burwood project, which was launched in October as Adela Burwood, comprises 107 apartments on a three-street frontage site of more than 4000 square metres, within minutes from Burwood station and Burwood Westfield.

The 28.2-hectare site on Great Southern Road Bargo came to market as ‘Coomeroo Estate’ in November, meeting strong demand and resulting in the fast-track of additional lots for sale. Only 20 lots of the current release remain for sale after a strong debut. The site has potential to yield 167 lots ranging in size from 700sqm to 5,000sqm. A future release is planned for 2018.

“We see this as a great location for families wanting to tree-change and stay close to key employment centres like Campbelltown and Wollongong and the early sales have certainly demonstrated there’s strong demand for room to move,” he said.

Celebrating a decade on the Hong Kong Stock Exchange, China Aoyuan Property Group has a proven track record of establishing successful mixed-use developments, and has a current land bank of over 17 million square metres across China, Macau, Australia and Canada.

The Group established Aoyuan International Investment Group ('Aoyuan International') a wholly owned subsidiary this year, aimed at propelling the investment, development and operation of properties outside China such as Australia, Canada, Hong Kong and Macau.

Mr Liaw said company’s Australian portfolio has focussed on quality projects within easy reach of key infrastructure - from prestige CBD apartments like One30 Hyde Park; to suburban luxury living targeting downsizers with Mirabell in Turramurra, Altessa 888 Gordon, Maison 188 Maroubra and most recently Adela in Burwood – which has also had appeal with investors.

“Our brand philosophy has always been about sustainability and this is something that resonates in the current climate now more than ever,” he says. “We are focused on making prudent decisions and purchasing sites that are going to ensure our longevity on an international scale.” 

“Now we’re looking at other growth areas and lifestyle options. We have every intention to be a part of the Australian market for the long term.


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