Primewest has postponed the spin-out of a new $285 million commercial property trust, citing market volatility, with Macquarie Bank and rent.com.au among other listed companies to change their capital raising plans.
Western Australia’s construction and commercial property sectors are bracing for the impacts of the COVID-19 pandemic, with imports of building materials likely to be disrupted and retail activity expected to plunge in coming weeks
Finbar Group is responding to increased demand for larger apartments with the launch of the second stage of its Applecross development, a $143 million tower to complement its nearly-completed Sabina building on Canning Highway.
Retail developer Con Berbatis has appointed Sydney-headquartered construction firm Built to carry out building works on Kardinya’s new $100 million town centre, under an early contractor involvement framework.
The Housing Industry Association is projecting an improvement in Western Australia’s home building market by the end of this year, citing an increase in population, building approvals and private house sales as cause for optimism.
Perth-based contractor Decmil has disclosed that its $185 million contract with New Zealand’s prisons department has ended early, with the client halting payments and seeking to apply liquidated damages.
ASX-listed developer Mirvac is shifting its focus to the Burswood Peninsula as its $350 million Beachside Leighton precinct reaches the final stages, with the company’s fourth residential building at the coastal enclave having recently topped out.
Cedar Woods Properties is targeting a stronger second half of FY2020 after recording an expected profit dip in the first six months of the financial year, while Stockland said its results were also in line with expectations, with its earnings also weighted towards the second half.