A significant development in Morayfield’s housing market has unfolded. The Foreign Investment Review Board (FIRB) has approved the sale of 12 Lendlease estates to Stockland and its Thai affiliate, Supalai.
One of the estates included in this $1.3 billion deal is Kinma Valley in Morayfield. This transaction marks a strategic shift for Lendlease, as the company focuses on high-rise projects and transitions away from single-dwelling homes.
The sale, expected to be finalised in the second quarter of this financial year, is subject to landowner consent. The sale of Forest Reach addressed the ACCC’s initial concerns regarding potential impacts on competition and housing prices, particularly in the Ipswich and Moreton Bay regions.
Stockland’s expanded portfolio, which now includes Kinma Valley, is anticipated to address Queensland’s housing crisis by increasing the supply of new homes in high-demand areas.
The Property Council of Australia has expressed concerns about state tax policies that may hinder international investment and housing delivery.
The council advocates for a review of these policies to support developers and stimulate the housing supply.
Published Date 26-November-2024
Photo Credit: Lendlease
