Ground broken at AURA, Melbourne Square’s newest $800 million tower

AT A GLANCE: 

• Developer: OSK Property
• Builder: Multiplex
• No. of Residences: 673 
• Estimated Completion Date: Early 2030
• Awards: From the 2026 PropertyGuru Asia Property Awards in September: 
  • Best Apartment Development (Australia)
  • Best Luxury Apartment Development (Victoria)
  • Best Wellness Residential Development
  • Best Apartment Interior Design

It’s a big season at Melbourne Square. Just recently, on the 22nd of September, OSK Property and construction partner Multiplex officially broke ground on AURA, the $800 million 67-storey tower that forms the third stage of the $3.5 billion Southbank precinct. Next door, the first BLVD residents are getting ready to move in, with settlements starting in October.

If you’re thinking about buying off the plan, that combination matters here, where you can buy into a precinct that you can now experience for yourself: relax in the park, shop at the supermarket, and watch the next tower go up.

Construction underway at AURA

Multiplex is now on site at AURA, with completion expected by early 2030. Even with construction just officially starting, the tower has already achieved more than 140 sales.

“It has been extremely satisfying to see the overwhelming acceptance of the AURA product by the market and to now be starting construction,” says Andrew Hutchinson, project director at OSK Property Australia.

When complete, AURA will add around 1,800 sqm of retail to the precinct. It will also serve as the gateway between Melbourne Square and the city, with views east to the Royal Botanic Gardens, Port Phillip Bay, and Albert Park Lake, and west over Kennedy Park and Hoff Boulevard.

“With more than 670 apartments and mixed-use facilities spread across 67 storeys, this is one of the biggest residential developments currently underway in the City of Melbourne,” said Deputy Lord Mayor Roshena Campbell.

“I am delighted that construction is getting underway on such a landmark project.”

A track record you can walk through

Stage one of Melbourne Square is already complete and lived in. So is much of what makes the precinct work day-to-day: 

• The 3,745 sqm Kennedy Park
• A 4,300 sqm full-line Woolworths supermarket 
• Nido Early School
• A Hoff Boulevard retail strip with 10 Hoff Café, BWS, Sama Sama restaurant, and Pacific Asian Grocer

Multiplex delivered stage one and is building stage two BLVD, with the tower core having reached Level 50 and the façade complete from Levels 9 to 44 this September. The first residents will settle from October, and the building is due for full completion in early 2028.

AURA continues a long partnership between builder and developer.

“Having delivered the first two towers, and with BLVD currently under construction, our team brings the experience, project knowledge, and innovative ways of working that come from delivering multiple stages of the development,” says Ross Snowball, regional managing director at Multiplex.

Behind the multi-billion-dollar precinct sits developer OSK Property, part of the larger OSK Group founded in Malaysia more than 60 years ago. It is developing Melbourne Square in a joint venture with Malaysia’s Employees Provident Fund, the 12th largest pension fund in the world.

Buyer feedback has shaped what comes next.

“We have consistently heard from stage one and two buyers that they hold Melbourne Square’s resident amenities in very high regard, so we have taken this to a whole new level at AURA with five floors of dedicated amenity,” says Michael Koschar, sales and marketing director at OSK Property Australia.

Award-winning before construction began

AURA arrived at its groundbreaking with a strong set of awards. At the 2026 PropertyGuru Asia Property Awards in September, AURA won four categories:

• Best Apartment Development (Australia)
• Best Luxury Apartment Development (Victoria)
• Best Wellness Residential Development
• Best Apartment Interior Design

OSK Property was also named Best Lifestyle Apartment Developer. These add to a list of earlier honours for the precinct, including a silver award for its master plan at the 2024 FIABCI World Prix d’Excellence Awards.

What’s available

AURA offers studios and one-, two-, and three-bedroom homes, many with a multi-purpose room. There are also penthouses and the Mira Terraces on Levels 3 to 6, where generous outdoor spaces extend the living areas.

AURA’s award-winning amenity collection spans five floors, from the AURA Club and Gardens on Level 7, which are available to all AURA residents, to the exclusive Meridian Club on Levels 49 and 50, and rooftop Cumulus Club on Levels 66 and 67 for premium residences.

Prices start from $573,000 for a 43 sqm studio. The display suite is at Level 1, 10 Hoff Boulevard, Southbank, open by private appointment.

Click here to learn more or to enquire about AURA at Melbourne Square.