The Urban Developer recently sat down with the Dahua Group’s Managing Director, William Huang to gain an insight into Duhua's expansion into the Australian market and their pipeline of development.
The Dahua Group was established in 1988 with its headquarters in Shanghai. Dahua's core business is property development and related investment. According to their website, Dahua's skills "span across design, engineering, sales and property management."The Dahua Group have been actively investing in the Australian market since 2014. It is anticipated that in Melbourne Dahua will invest and deliver up to $2.65 billion across 14 projects in 10 suburbs - 12 landed residential estates and two apartment developments that include Hawthorn Park on Camberwell Road (Hawthorn East) and "Noir" on Garden Street (South Yarra).
In Sydney the Dahua Group is projected to invest and deliver up to $2 billion across four projects that include master planned developments in Bardia and Menangle Park and the "Central Workshop" buildings in Waterloo.
Australia is considered a stable country for investment with its AAA bank ratings and its cities are ranked as some of the most liveable in the world.
Aside from the enviable lifestyle and weather that Australia offers, from an international development perspective, both Melbourne and Sydney present as outstanding investment opportunities as these cities consistently register positive growth.
We believe that both the federal and state governments have taken a pro-active approach to encourage homeownership for first home buyers.
In Victoria, the abolishment of the stamp duty on residential values below $650,000 and the introduction of stamp duty discounts bodes well for our landed residential communities.
Although we find that the removal of the stamp duty savings may affect off-the-plan investors, we expect that the effect of these changes will take longer to play out in the market. We believe that there will always be a strong appetite for quality design in exceptional locations.
This is what we strive to deliver through our projects as this is a market fundamental and will be largely impervious to legislative change.
Dahua Group Melbourne has been very proactive in the Melbourne market as we have been fortunate enough to secure top quality sites in enviable locations.
Whilst project feasibility and returns is first and foremost, the possibility of delivering on our vision to build communities that are sustainable through excellent lifestyle opportunities and [sustainable through] the neighbourhoods that surround the site are amongst some of the criteria that we will consider.
Whilst our current projects and developments will take us up to 2035, we are always on the lookout for exceptional sites.
We are proud of all our projects and each represents a specific success. For example, Orchard Tarneit has been selling out in record time - we are currently up to Stage 5 of sales.
The construction of our "Noir" Apartment on Garden Street in South Yarra is progressing well and will settle toward [the] end of the year and has been a very popular development for those who enjoy urban living, commanding views and contemporary design.
TUD: Where do you see Dahua Group Australia in 10 years' time?
Dahua Group Australia is here for the long term. We are committed to creating truly exceptional Australian residential communities.
In 10 years, we aspire to be recognised as a major property developer in the Australian property market. With our commitment, pipeline of projects and continuous effort to grow our relationships with the best collaborators and consultants in Australia, we will be.
Garden St, Melbourne
8-12 Garden St, South Yarra, VIC
1,030 sq m site was acquired on 12 Dec 2014 with all internal financial resources.
91 luxury apartments and 6 retail tenancies
Estimated Completion Date:
Planning permit approved & registration & sales
Development Manager: United Property Corporation
Project Manager: PDS Group
Architect: CHT Architects
Interior Designer: Carr Design Group
Sales Agent: CBRE
Solicitor: Thomson Geer
Service Engineer: ADP Consultants
Structural Engineer: WEBBER Design
Central Workshops, Waterloo Sydney
Central Workshops, Waterloo Sydney
903-921 Bourke St Waterloo NSW
Site Area area:
20,660 sq m, located in the Green Square Urban Renewal Area. Site acquired on 29 May 2015 with all internal financial resources.
450 units approx.
Planning Proposal process.
Architect, Urban Design and Planning: Architectus
Heritage Consultant: GRAHAM BROOKS
Landscape Architect: ASPECT Studios
Traffic Consultant: ARUP
Water Servicing Coordinator: Warren Smith & Partners
Solicitor: Minter Ellison