Parallel Property, a private Sydney-based developer, has announced that Maxcon Constructions will build Adelaide's tallest building, "Realm Adelaide".
Maxcon was the successful bidder for the job and will start work next month on the $200 million, 40-storey residential tower with work expected to finish by early 2020.
Maxcon were the stand out winner of four builders who competed in the tender process, M Projects Director Marcello Tuteri said.
Maxcon Director Anthony Elzain said the company was excited to be part of such a major project.
"This building will set the standard for residential living in the city. We are thrilled to be part of it and proud to be responsible for the construction of the state’s tallest tower,” Elzain said.
The Renaissance Arcade is also set to undergo a make-over in the midst of Realm's construction, and the Realm Developers are also in discussions with Adelaide City Council to consider further upgrades to Austin Street.
Maxcon’s last completed local project is the current tallest Adelaide residential tower Vue on King William. Standing 89 meters tall, this will be 43 meters shorter than Realm Adelaide’s planned height. They are also building the Bohem Apartments, a 22-level commercial residential tower on Wright Street, Adelaide which is due for completion late 2017.
Realm Adelaide has sold 70% of apartments to date.