Global Power | Local Knowledge | Uniquely Personal
中文

Aussie developer brings 'Asian ...

Aussie developer brings 'Asian twist' to Melbourne skyline

A developer says he is about to bring an Asian twist to Australia with a rather unique new building.
In recent months, Chinese buyers have been snapping up more and more Australian homes and apartments, with the potential for high yields and strong returns growing all the time. 

And now one Australian developer is potentially looking to make the most of this demand from the Far East, as he says he is about to introduce a new building with an 'Asian twist' to the Melbourne skyline.

ICD Property, owned by Michael Mai, is putting the finishing touches on the plans for the new EQ tower, a 63-storey residential tower with 632 apartments.

Mr Mai said that Melbourne is becoming an increasingly international city, adding that apartment living and investment is starting to become more prevalent in the city, although it is still far behind the more mature apartment rental sector in the Far East.

"Apartment development in Australia is still in its infancy we believe," he said.

"In Asia it's more mature, that's why we've put in a lot of facilities you haven't seen before."

Posted by Steve Douglas
 

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

Subscribe Now