PETALING JAYA: Gamuda Land, the property arm of Gamuda Bhd
, expects its maiden Australian project in Melbourne, 661 Chapel St, to be fully taken-up within the next two years.
Chief operating officer Ngan Chee Meng said about 30% of the units had already been sold to Malaysian buyers.
“We plan to launch it in Australia in the third quarter of this year,” he told reporters during a media preview of the project here, today.
Ngan said the foray into Australia was part of the company’s aim to diversify its earnings.
The 661 Chapel St project is located 4km from the Melbourne central business district and has a gross development value of A$154mil (RM462mil).
The development is 30-storey tower comprising 142 units of luxury apartments. The units start from A$571,000 (RM1.71mil).
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