CDL plans Melbourne and Brisbane projects in Australia BTR push
- melbournepropertyh
- Jun 1, 2023
- 1 min read
Singapore property group CDL has entered Australia’s build-to-rent market with an immediate plan to build more than 500 apartments in Melbourne and Brisbane.Its local subsidiary, CDL Australia, expects to begin construction on the two projects – at Toowong in Brisbane’s inner west and Melbourne’s Fishermans Bend precinct, which will yield around 320 and 240 apartments respectively - in the second half of this year.On completion, they will increase the total value of CDL’s Australian portfolio to A$1bn (€610m).Cameron Laird, head of development, CDL Australia, said: “We are extremely pleased with the strong foothold we have gained since our re-entry into the Australian property sector with our Ivy and Eve project in Brisbane in 2015 and the opportunity to leverage rising demand for rental accommodation with build-to-rent projects in Brisbane and Melbourne.”CDL Australia is also progressing with apartment and townhouse projects in Brisbane and Melbourne, including its landmark Brickworks Park community in Brisbane’s inner north.
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