Hiap Hoe wins land tender in Melbourne for $33.6 million

DEVELOPER Hiap Hoe has been awarded a tender for a 40,849 square feet metre site in Melbourne, Australia for A$28.8 million (S$33.6 million).

Situated in the highly sought after NewQuay precinct, at the edge of Victoria Harbour, the planned development will be an iconic landmark in Docklands, towering over all other buildings in the precinct, with commanding views from all angles.

The site possesses all the necessary planning permits for the development of two buildings with 425 residential units.

In the approved plans developed by dKO Architecture, one of Australian's leading architects, the first building consists of a podium interface and a tower above, while the second building is set to be the tallest building within the precinct.

Hiap Hoe plans to review the approved plans with dKO Architecture to redefine the use of the planned residential development, with the introduction of a serviced apartment/hotel component.

It intends to replicate its success with the integrated hotel-cum-commercial development along Balestier Road, Singapore, comprising Days Hotel Singapore and Ramada Singapore, Zhongshan Mall and an office tower.

"Being our first mixed-used residential cum hospitality project outside Singapore, we will replicate the unsurpassed quality and service standards that have underpinned Hiap Hoe's signature developments over the years," said Hiap Hoe's executive chairman and chief executive Teo Ho Beng in a statement.