OSK Property starts work on A$800m Aura tower in Melbourne

PETALING JAYA (Sept 23): OSK Property and construction partner Multiplex have broken ground on Aura, a 67-storey residential tower at the Melbourne Square precinct in Southbank, Melbourne. 

OSK Property has put Aura’s gross development value at A$800 million (RM2.31 billion). The tower will comprise 673 apartments, while the wider Melbourne Square precinct is being developed by OSK Property in a joint venture with Malaysia’s Employees Provident Fund (EPF). 

In a media release dated Tuesday (Sept 22), OSK Property said Aura was targeted for completion in early 2030. The developer said more than 140 units had been sold since the project’s soft launch in the second quarter of 2026.

Aura will offer studio, one-, two- and three-bedroom apartments, as well as penthouses and Mira Terraces, with prices starting at A$565,000.

The tower is the third residential stage of Melbourne Square, following the two-tower first stage and BLVD. It is expected to add about 1,800 sq m of retail space to the precinct, which already has a supermarket, other shops, food-and-beverage outlets and a childcare centre.

OSK Property Australia CEO Woon Chong Boon said the start of construction marked a milestone for Melbourne Square. Planned resident facilities include a pool, gym, co-working space and gardens. Facilities on Levels 66 and 67 will be reserved for purchasers of premium residences.

OSK Property said Aura is financed through a syndicated loan involving Maybank International Labuan Branch, HSBC’s Sydney branch, Bank of China (Malaysia) Bhd and Industrial and Commercial Bank of China (Malaysia) Bhd’s Labuan International Branch. Maybank International Labuan Branch is the coordinating mandated lead arranger and bookrunner.

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