Singaporean Developer Approved

Market Insights
9 years ago
1 minute

Singaporean developer Hiap Hoe, who is attempting another push in the Melbourne apartment market, has had his 211 metre project approved by the Victorian Planning Minister.

Richard Wynne, Planning Minister for Victorian Parliament, made an announcement on Tuesday at a Property Council of Australia conference indicating to those in attendance that the 211 metre development would go ahead.

Due to be worth an estimated $240 million AUD, the site itself occupies nearly 3,165sqm in prime CBD land - the plans include 2 towers that rise up to over 51 levels.

This new development would not only be for residence, but will provide mixed-use facilities, and would even provide Melbourne a new laneway that will eventually transform into another of Melbourne's hidden gems.

The development today is currently a car park and office building - but once the new development is up, we could see not only apartments, but a hotel and retail precinct.