780 contracts from wholly owned, joint venture projects in Melbourne, Sydney
AUSTRALAND Property Group said yesterday that its residential division bagged about 780 contracts worth over A$318 million (S$409 million) in wholly owned and joint-venture projects in Melbourne and Sydney in the third quarter of this year.
As a result, the division exchanged a total of about 1,800 contracts (for land, housing and apartments) with sales revenue of about A$700 million in the first nine months of this year.
As at Sept 30, 2009, the residential division had 14,500 lots in its development pipeline comprising land communities, housing and apartment developments.
‘The pipeline is geographically diversified across the capital cities of Australia’s eastern seaboard and Perth,’ Australand said in a Q3 2009 property update issued yesterday, ahead of its parent CapitaLand’s Q3 financial results statement to be released today.
Australand does not issue quarterly financial results; it releases them only at full year and half time.
‘First-time home buyer demand is slowing with the winding back of the first home buyers boost at the end of September. Continue reading
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