OSK Property debuts Aura at Melbourne Square precinct
KUALA LUMPUR: OSK Property is set to unveil Aura, a RM2.25bil (AUD$800mil) residential tower that will form the next phase of the RM9.85bil (AUD$3.5bil) Melbourne Square master-planned precinct in Southbank, one of Melbourne’s most prominent inner city neighbourhoods.
The development will rise 67 storeys and comprise 673 residences, adding to the evolving Melbourne Square skyline. It introduces a design concept centred on wellness, community and contemporary urban living, with residences ranging from 463sq ft studio units to 1,496sq ft for three-bedroom homes, priced from RM1.66mil onwards.
Malaysian investors and home seekers will have the opportunity to view Aura up close during its grand launch at EQ Hotel Kuala Lumpur on April 18 and 19, where exclusive upgrades and exciting homeowner packages will be available.
The launch comes at a time when Australian residential property is regaining attention among Malaysian investors, supported by a stable economic environment, transparent regulatory framework and sustained housing demand in key gateway cities such as Melbourne.
Melbourne, consistently ranked among the world’s most liveable cities, continues to stand out as one of Australia’s most attractive long term residential markets. The city’s population growth has remained among the strongest in the country, driven by international migration, a globally recognised education sector and its role as a major financial and cultural hub. These fundamentals have supported long term housing demand, particularly within well-connected inner city precincts.
Aura is located in Southbank at 7 Hoff Boulevard, directly adjacent to Melbourne’s central business district (CBD) and along the Yarra River, positioning residents within close proximity to employment, lifestyle and cultural destinations. Over the past decade, Southbank has evolved into one of Melbourne’s most vibrant residential neighbourhoods as well as the nation’s leading arts and entertainment precinct, attracting professionals, executives, students and international residents seeking the convenience of inner city living.
From Southbank, residents are within minutes of Melbourne’s CBD financial district, the Arts Precinct, the National Gallery of Victoria, the Crown entertainment complex and a network of riverside cafes and restaurants. For property investors, proximity to employment centres, cultural institutions and lifestyle amenities is often seen as a key driver of both tenant demand and long-term capital appreciation. Tram access at the doorstep to the development makes commuting hassle free and allows residents to go about all their duties without vehicles.
Aura forms part of Melbourne Square, a 2.02ha, freehold integrated precinct that combines residential towers, retail offerings and public green spaces within a single master-planned development. Large scale integrated projects of this nature remain relatively uncommon within Melbourne’s tightly held inner city areas.
The precinct already features Kennedy Park, a 3,745sq m public garden, alongside a full line Woolworths supermarket, Nido Early School Learning Facility, BWS as well as cafes and restaurants. For investors, developments with established amenities and operational retail offerings can provide greater certainty around the long-term liveability and attractiveness of a neighbourhood.
Aura will follow the success of BLVD, the previous residential tower within Melbourne Square, which has achieved approximately 80% sales after two and a half years on the market. The strong take up reflects sustained demand for homes located within integrated precincts that combine convenience, lifestyle amenities and access to public spaces.
According to OSK Property Australia chief executive officer Woon Chong Boon, Aura represents the next evolution of the Melbourne Square vision.
“Aura stands tall as an exemplar of holistic wellness, where the focus on social, physical and mental well-being creates a calm and restorative living environment within the heart of Southbank,” he said.
“We have been very encouraged by the strong response to BLVD and the continued demand for the level of amenity, design and connectivity that the Melbourne Square precinct offers.
“For Malaysian buyers looking to diversify internationally, Melbourne continues to offer compelling long-term fundamentals supported by population growth, strong rental demand and a vibrant urban environment.”
Inner city Melbourne also remains one of Australia’s most active rental markets. While approximately 31% of Australians rent their homes nationally, the proportion is significantly higher in inner city areas such as Melbourne’s CBD and Southbank, where the share of renters can exceed half of the local population. Tenant demand is driven by young professionals working in the CBD, international students attending nearby universities, newly arrived migrants as well as residents who prefer the flexibility of renting within the city centre.
For property investors, these demographics have historically supported consistent rental demand for well-located apartments close to employment and lifestyle hubs.
Aura will introduce a curated selection of residences designed around Japanese inspired architectural principles emphasising calmness, clarity and simplicity through the use of natural materials and carefully layered spaces.
Residents will have access to a comprehensive suite of lifestyle and wellness facilities located across multiple levels of the building. The Aura Club on level 7 will feature an indoor pool, cold plunge, spa, gymnasium, Reformer Pilates studio, yoga room, sauna, steam room, library, work-from-home (WFH) areas and landscaped garden terraces with outdoor dining spaces and a tea house pavilion.
Higher in the tower, the Meridian Club on levels 49 and 50 will offer lounge areas, a conservatory and private dining spaces designed for resident gatherings. The top two levels, known as the Cumulus Club, will include refined lounges, wellness treatment rooms, private spa facilities and meditation spaces overlooking the Melbourne skyline and Arts Precinct.
Designed by Cox Architecture, the building adopts a sleek grid form that draws inspiration from both New York’s classic high-rise architecture and Tokyo’s contemporary skyline.
The building’s residences will be complemented by approximately 1,600sq m of retail space, spread across five to eight tenancies on the ground floor and first floor.
The majority of Aura residences will also include balconies, increasing fresh air and outdoor space access. These balconies will boast incredible views across Melbourne’s CBD, Kennedy Park, Docklands, the Royal Botanic Gardens and the Arts Precinct.
Another factor contributing to renewed overseas interest is the current exchange rate environment, which some investors view as presenting a favourable entry point into the Australian property market. Combined with Australia’s stable regulatory framework and well-regulated transaction process, this has contributed to continued international interest in residential property within major Australian cities.
Construction for Aura is currently slated to commence in late 2026, adding another chapter to the Melbourne Square precinct as it continues to evolve into one of Melbourne’s most significant integrated urban communities.
Malaysian investors exploring international property opportunities are invited to experience Aura firsthand during its grand launch preview at EQ Hotel Kuala Lumpur on April 18 and 19, from 10am to 5pm. RSVP now at https://forms.office.com/r/dzenncm3zh to secure your exclusive preview.
