Former Mirvac head of residential John Carfi has been appointed as the chief executive of Aqualand Property effective from July.
Carfi has been working in the United Arab Emirates for the last 18 months as chief executive of Emaar Properties PJSC Development.
Sydney-based Aqualand Australia was established in 2014 and has since generated a portfolio of 18 sites with a collective gross development value of around $5 billion.
The Chinese-backed company has recently sold its 54 Miller Street office building for about $60 million as it looks to concentrate on major projects.
The company has also listed a prime waterfront site which adjoins Channel Seven properties in Sydney’s Pyrmont. The site is located next to its luxury REVY apartment development.
Jin Lin, Aqualand’s managing director said that as Carfi transitions into the CEO role, he will now become group managing director.
“Already Aqualand has grown a significant portfolio of sites, recycling assets to improve future investment opportunities and we are now on the verge of a new frontier with a significant appetite for large-scale, masterplanned projects,” Jin Ling said.
“John has delivered numerous masterplanned communities throughout Australia and internationally, and I believe with him at the helm, Aqualand is well-positioned to increase its market dominance.”
Carfi began his 30-year career in project-based roles at Lendlease before progressing to the national role at Mirvac.
Aqualand were recently named as part of the consortium of developers for the $2 billion final stage of Barangaroo, the 5.2-hectare Barangaroo Central. Aqualand will be developing the residential component.