News about Melbourne

SINGAPORE (July 12): CapitaLand's wholly-owned serviced residence business unit, The Ascott, is acquiring a 221-unit serviced residence in Docklands, Melbourne, for A$71 million (S$71 million) (RM210 million) as part of its partnership with Australian-based apartment operator Quest Apartment Hotels.

Property sector Maintain neutral: Out of eight property developers under our coverage, two (UEM Sunrise Bhd [UEMS] and Eastern & Oriental Bhd [E&O]) reported earnings below expectations.

KUALA LUMPUR (July 1): Salcon Bhd is buying a plot of freehold commercial plot in Australia, together with a car park and a two-storey office building erected on it, for A$37.

Property sector Maintain neutral: Recently, cooling measures have been announced in several states in Australia to curb speculation by foreign property buyers.

PETALING JAYA (June 17): Property developer S P Setia Bhd is set to launch its latest development in Melbourne, the Maison Carnegie apartments, on Aug 6.

KUALA LUMPUR (June 17): Hong Leong IB Research has maintained its “Neutral” rating on the property sector with IOI Properties Group Bhd as its top pick after cooling measures were recently announced in several states in Australia to curb speculation by foreign property buyers.

FROM its trendy restaurants to its art and culture centres, Melbourne has long presented itself as one of the most desirable places to live and work.

TASMANIA (June 6): The chief executive and founder of Fragrance Group, Koh Wee Meng is believed to have bought a A$5.

PETALING JAYA (June 6): Gamuda Land, the property arm of construction group Gamuda Bhd, aims to launch its first Australian project — 661 Chapel St in Melbourne — Down Under in the third quarter of this year, said the developer’s chief operating officer Ngan Chee Meng.

GAMUDA Land’s first Australian project in Melbourne — 661 Chapel St — has recorded a take-up rate of 30% since its launch in Kuala Lumpur in June last year.