A well-known Australian developer confirmed that it has bought a 131-hectare development land worth A$180 million in Clyde, a growth corridor in the southeast of the Melbourne metropolitan area. According to the master plan, more than 1,400 housing sites and townhouses will be developed. Blocks, schools, commercial centers, parks and indoor entertainment facilities, Whitson, president of the group’s residential department, said that this is in line with the strategy of supplementing the pipeline of residential projects.
Davis, the general manager of the company’s Victorian housing department, said that consumer preferences will change in 2020, and they are more inclined to purchase lower-density, lower-priced housing in master planned communities. This acquisition is conducive to the company’s comparative advantages, speeding up the entry of affordable land, and increasing the opportunities for first-time home buyers and families to enter the real estate market.
https://theurbandeveloper.com/articles/stockland-makes-180m-move-on-melbourne-land-deal