02/03/2011 - 14:33

Finbar gains Karratha approval

02/03/2011 - 14:33

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Perth-based apartments giant Finbar has obtained development approval to commence construction of the first residential high-rise project in Karratha.

Perth-based apartments giant Finbar has obtained development approval to commence construction of the first residential high-rise project in Karratha.

Finbar announced today it had received approval for both stages of its Pelago project, which will comprise 292 residential apartments and 22 commercial lots.

The company has commenced marketing for the $88 million first stage, Pelago West, and said it had sold 11 per cent of the project in the first three weeks.

"Builders mobilisation is currently underway and it is the company's intention to seek completion of the project by the middle of 2012," Finbar said in a statement to the ASX.

 

 

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