Greenland Group celebrates a successful 2014 in Australia and looks ahead to 2015
2014 has been an exciting and productive year for Greenland Group, which has now been established in Australia for two years with a number of key projects well underway, including its landmark Greenland Centre Sydney – Sydney’s tallest residential tower. Buyers wanting a piece of this property in the sky queued in the hundreds on opening day and within an hour of opening, 241 of the 250 lots released in Stage 1 sold. Just last month, Brookfield Multiplex was appointed as the builder of the group’s first tower. Scheduled for a 2018 finish, only 10% of units remain in the sought-after development.
The project features 488 high-end apartments and a $25 million state-of-the-art creative hub featuring dance, theatre, music, film and visual arts facilities following an agreement with City of Sydney. A 173-room five-star $150m luxury Primus boutique hotel operated by Greenland will also be built on an adjoining site in Sydney’s Central Business District. The hotel is scheduled for completion at the end of 2015 with construction currently well underway.
The Primus Hotel will be Greenland’s first hospitality project in Australia, however the company is known for its work in this sector around the world. Greenland owns independent hotel brand Primus for boutique hotels and The Qube for business hotels, now successfully established in the European market, while 68 hotels run by large operators including Ritz-Carlton, Intercontinental and Marriott are operational or under construction. Greenland Group’s hotel industry has considerable size and strength, with total assets of approximately $US5 billion. Currently, the hotel projects covers 35 cities in 18 provinces in China and is expanding to cover US, Thailand, Canada, Germany and Australia. With a growing portfolio, Greenland is set to open another two hotels in China, Nanchang – the Hualuxe Hotel and the Xuzhou Qube Hotel.
Another development that launched this year, Lucent North Sydney, has set a new benchmark for five-star luxury living in North Sydney with its mix of studio, one bedroom, one bedroom with study, two bedroom and three bedroom apartments featuring extraordinary light-filled interiors and spectacular panoramic harbour and district views. Its resort-style facilities include a multi-purpose room and gym with leafy views, an infinity edge pool that looks seamlessly over the harbour and a rooftop garden with a breathtaking viewing platform.
Lucent’s VIP launch was a hit, with 50% of units sold on the first day simultaneously in Sydney, Shanghai and Hong Kong. Excavation of the existing site has already taken place, with a proposed completion date in the second quarter of 2016.
A new high profile mixed-use residential project in Flemington at the world renowned Flemington Racecourse, will be Greenland’s first Victorian project. Its 1,500 residential units will set a new benchmark for residential projects in the Melbourne market. In most recent times, Greenland was shortlisted as a proponent on the multi-billion-dollar Queen’s Wharf casino, hotel and apartment development project in Brisbane’s CBD and have subsequently submitted a Request for Detailed Proposal in a joint venture partnership with Crown Resorts.
Sherwood Luo, Managing Director of Greenland Australia stated at an inaugural Australia China Property Developers and Investors Conference in Sydney on 8 December, “Two years after first entering the Australian real estate industry, we feel all developers in the industry are working towards the same target regardless of where they come from, be it Asia, UK, America or Australia. That target being delivering a suitable product to meet the demand of the market and bring benefit to the community via more tax income, job opportunity, city renewal and increased economic activity.”
“Just as the recent free trade agreement signing between Australia and China signals the capability of two nations, Australia and China, cooperating to form mutually beneficial relationships on a global scale, the Australian development industry can also follow suit on a local scale. This recent move only reinforces the importance of the Australia-China relationship. Our development strategy in Australia is a long-term investment strategy. We will continue to invest in major cities with large tourism and business growth including Sydney, Melbourne and Brisbane.”
Currently ranked 268 in the Global Fortune 500, Greenland Group is the world’s third fastest growing company and a global leader in property, resources, finance, construction and hotels. The group is currently at work on real estate projects in 90 cities across China and 13 cities in nine countries of four continents, including the US, Australia, Canada, UK, Germany, Spain, South Korea, Thailand and Malaysia.
In 2014, the group invested AUD$8 billion in new overseas projects and from 2013 onwards, AUD$1.6 billion in local real estate projects, with more on the way. Greenland Group plans to continue meeting and exceeding market demands in 2015, with intentions to invest in Australian agricultural and hopes to add their joint bid for the Brisbane’s Queen’s Wharf Project in conjunction with Crown Resorts to their portfolio, when the winner is scheduled to be announced in early 2015.
For more information, please contact Trish Varker-Miles at The Trish Nicol Agency on +2 9356 2711 or [email protected]
