The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
ResidentialStaff WriterThu 02 Jun 16

Melbourne Developers Gather To Tackle Policy

i

Melbourne's development community came together on Thursday in a think tank to battle bank and state government policy decisions threatening the viability of their industry, according to The Australian Financial Review. 

On Thursday afternoon, approximately 60 of the city's most powerful residential developers filed into a room in the Westin Hotel on Collins Street in the CBD, reported The AFR.  

Green: Melbourne Skypark[/caption]Companies in attendance included the likes of Lendlease and Mirvac through to the major private developers including Central Equity, ISPT, Metro Property Development, Gurner, BPM, Salta, Salvo and Little Projects.

A large component of the attendees were Asian developers led by Malaysian giants SP Setia and UEM Sunrise, state-owned Chinese developer Poly Real Estate and CEL Australia, the local arm of Singapore-listed Chip Eng Seng.

The AFR reported the key discussion centred on the pullback by the major banks from lending to foreign buyers and new taxes imposed on foreign buyers in Victoria from July 1, including a 7 per cent stamp duty surrcharge. Developers fear this could lead to a surge in settlement defaults and send apartment values plummeting.

Danni Addison, CEO of the Urban Development Institute of Australia, told the Australian Financial Review there was concern in the industry about the impact of several policy decisions on the property development industry.

"The industry has come together as one voice to tell the government about the real economic impact their decisions are having on the ground," Ms Addison said.

She said the UDIA and the Property Council will seek meetings with the state government to voice these concerns.

A small sample of the list of attendees, reported by The AFR, included:

  • 3L Alliance

  • AHB Australia

  • Asian Pacific Group

  • Australian Institute of Architects

  • BuildCorp

  • Crown Property Group

  • Frasers

  • Gurner

  • Icon Co

  • LendLease

  • Little Projects

  • Metro Property Development

  • Pellicano

  • Salta

  • Xu Hui International

ResidentialHotelAustraliaPolicyLegalPolicy
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
The Sydney developer is pushing ahead with a project it picked up following the collapse of Dyldam in 2020....
LATEST
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
2 Min
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/developers-gather-to