Shell Cove luxury twin towers top out, with buyers set to move in next year

Construction of Vela Apartments has hit a major milestone with the topping out of its twin apartment towers. To celebrate, builder Binah marked the occasion with a traditional Olive Tree Ceremony, placing an olive tree at the highest point of the structure to symbolise longevity, resilience, and abundance.  

The milestone comes amid strong sales for the luxury apartments, with more than half of the 57 architecturally designed, luxury two- and three-bedroom apartments sold. 

The remaining luxury apartments range in price from $1,695,000 - $2,325,000 for two-bedroom, two bathroom and one-car space apartments, and for three-bedroom, two-bathroom, two-car spaces prices  range from $2,295,000 - $3,225,000.  

The first Vela residents are on track to move in in late 2026.  

The Waterfront, Shell Cove, is a partnership between Shellharbour City Council and Frasers Property Australia just 90km from southern Sydney.  

“We’re proud to be building Vela Apartments in partnership with Frasers Property—our second major  collaboration - and we’re excited to bring their vision to life with the same precision and care that defined our work together at Ed.Square in Sydney’s Edmondson Park," said Khalil Hafza, CEO at Binah.

Frasers Property Australia development director Mathew Gulliver says Vela Apartments is a significant residential landmark on our harbour foreshore which complements the growing Shell Cove community.  

“Vela is the fourth residential apartment development at Shell Cove and its striking architectural presence  both complements and contrasts with its surrounds. Binah is delivering a high-quality addition to Shell Cove and we congratulate them on reaching this major construction milestone ahead of completion next year.”  

“I personally extend my appreciation to the construction staff both at Binah and Frasers Property, as well  as the subcontractors and consultants who are out here in the elements every day working through the  challenges and coordinating an unbelievable amount of detail to be able to deliver quality buildings like this.    

"While Vela is a premium product offering, it does contribute to the complex broader housing supply challenges by providing a unique opportunity for downsizers, empty nesters, investors and families seeking  low maintenance living, unlocking new homes within the established market for these buyer segments.”  

Shellharbour City Council Mayor Chris Homer said the ceremony marked an important milestone in the Shell Cove project.

"Vela is another piece of the puzzle of the Shell Cove Harbour taking shape, and I am so excited to look around and see the progress of this development," he said.

"It's another milestone for our harbour and for our city."

Binah CEO Khalil Hafza said Vela Apartments "marks another important step in Binah's expansion into Australia's luxury residential sector".

"We're building homes that reflect the evolving lifestyle aspirations of buyers-coastal, connected, and crafted to last," he said.

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