$180M project has just been launched in Melbourne’s domain precinct

DCF Property Group has celebrated the official sod-turning for its $180 million First Light development, a transformative project set to redefine Melbourne’s Domain Precinct. The ceremony marks the beginning of construction on this world-class development, which will not only reshape the city’s skyline but also deliver significant economic benefits to Victoria. 

The project, with a construction value of $75 million, will be executed by Ironside, a renowned Australian builder specialising in high-end, large-scale developments. Ironside’s involvement reflects DCF’s commitment to the highest standards of quality and design. 

Throughout the construction phase, the project is expected to create 160 direct jobs, along with an additional 450 jobs across Victoria’s economy, resulting in a total of 610 jobs during the build.

“This sod-turning marks a significant milestone for DCF as we begin to turn our vision for First Light into reality," said Calvin Huang, CEO at DCF.

“This project represents a major investment in Melbourne’s future, with long-term benefits in job creation, tourism, and economic growth.”

Upon completion, First Light, through its wide-ranging amenities, will provide 45 permanent jobs, with additional opportunities arising for contractors and suppliers, ensuring a continued positive impact on the local economy. 

World-renowned designer Philippe Starck and international property entrepreneur John Hitchcox founded YOO in 1999 and the Nu By YOO luxury hotel, managed by La Vie Hotels and Resorts, is proposed to sit within the First Light development.

The hotel will feature 97 luxury rooms and is projected to maintain an 84 per cent occupancy rate, welcoming approximately 60,000 guests annually.

With an average room rate of $384 per night, the project is set to generate an annual Gross Operating Profit of $5 million, further highlighting its contribution to Melbourne’s tourism and economy. 

In addition to luxurious accommodation, First Light will introduce world-class amenities, including a wellness sanctuary and premier dining experiences designed by renowned restaurateurs Scott Pickett and Jason Lau. 

Residents will also enjoy exclusive services through partnerships with luxury brands such as Space Furniture, which has curated the development’s award-winning interior furnishings. 

First Light is due for completion in October 2026 with the hotel to begin operating shortly thereafter. 

For more information or to enquire about First Light's apartments, click here.