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Heavyweight Thai developer Supalai has taken a half stake in a $200 million residential project near Geelong....
The Bangkok-listed player, with a $1.5 billion asset base, has bought a 50 per cent interest in a 900-lot residential estate.....
The project is at Fyansford, at the western end of Geelong, Victoria's second-largest city.
Source: Financial Review (Apr 14 2016)
Writer: Nick Lenaghan
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The Gen Fyansford estate in Fyansford, Victoria, is a joint project involving ICD Property, a credentialed Australian developer (particularly in residential property) and Supalai, one of the 10 largest developers in Thailand.
On the ICD website it is noted:
“Geelong’s largest infill land estate, Gen Fyansford is the largest development ICD has undertaken to date. It is also our first broad-acre project. We achieved an impressive 900 registrations in the two months prior to launch. Riverside Releases A-E (Stage 1), comprising about 150 conventional lots, have sold out and are currently under construction. Our joint venture with Supalai Public Company now takes responsibility for the outstanding stages, a total remaining land area approaching 99 hectares… The site is located five minutes from Geelong’s CBD and Newtown, the area’s most sought-after suburb. ICD makes sustainability the hero of this impressive master-planned community with expert consultants helping to deliver substantial landscaping works, including riverfront regeneration and breathtaking views of open space. Gen Fyansford has achieved the highest percentage of second and third homebuyers in the Geelong region and have celebrated an exceptional zero default rate on settlements thus far.”
For more details of the development which involves 115 hectares in total with an estimated 1000-lot subdivision and ancillary town-centre commercial assets valued at $200m, see their explanatory site.
This model is on display in the Gen Fyansford office, 3 Casey Boulevard, Fyansford