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Sunland Sells Out $240 Million Abian Tower In Brisbane

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Sunland Group’s 41-storey Abian tower development, located at the entrance to Brisbane’s historic
Botanic Gardens, has sold out two years ahead of completion.

Abian, Brisbane’s first luxury tower project in more than five years, comprises 150 luxury dwellings with an end value of $240 million.

Sunland Managing Director, Sahba Abedian, said Abian was the first major residential tower to cater for the
luxury owner-occupier market in the Brisbane CBD in more than five years.

“When Abian was launched during the first quarter of 2014, it recorded the most apartment sales of any
new apartment project in the Brisbane region, positioning luxury property as the biggest seller in the local
apartment market for the first time in more than seven years,” Mr Abedian said.

“Furthermore, when you consider that the average apartment price in Abian was $1.6 million, it signifies
the depth of the owner-occupier market and the level of demand for larger, sophisticated living spaces in
the inner city.”

Mr Abedian said Abian is one of only a small handful of owner-occupier towers to embrace Brisbane’s
skyline, with the majority of towers under construction catering predominantly for the investor market.

“The luxury owner-occupier residential segment is the hallmark of Sunland’s DNA, from Palazzo Versace,
Aria, Malibu and Carmel on the Gold Coast, to Yve and Balencea in Melbourne,” he said.

“It is a segment we will continue to focus on in the year ahead as we unveil new projects in Brisbane and
the Gold Coast.”

Abian was marketed by Sunland Group in collaboration with Colliers International and was recently
recognised at the 2015 UDIA (QLD) Awards for Excellence, winning the top honours for Marketing
Excellence.

Construction commenced mid-2014, with the first residential levels poured earlier this month. The
project is scheduled for completion in mid-2017.

Sunland recently competed a $50 million bond issue originated by FIIG Securities.

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Article originally posted at: https://theurbandeveloper.com/articles/abian-tower-brisbane