The residential property sector has always been a critical part of the success of Brookfield Multiplex’s global contracting business. Currently around a quarter of it’s $13.6 billion global workbook is in residential construction, representing the largest construction category alongside commercial construction. This leadership is seen in key markets that Brookfield Multiplex operates within around the world including the United Kingdom, Dubai and particularly within Australia where the residential sector has been extremely buoyant for the last five years.
This global residential experience allows Brookfield Multiplex to harness and share world’s best practice construction methodologies with its team, 0ensuring innovation is at the forefront on every project.
Having operated in the Australian market for over 50 years, Brookfield Multiplex has earned a solid reputation for delivering high-quality residential projects across the country from boutique low-rise developments to sleek high-rise towers and covering heritage conversions through to new builds. Some of Australia’s most iconic award-winning residential developments have been built by Brookfield Multiplex including The Quays and Prima Tower in Victoria, The Wharf at Woolloomooloo, Bennelong Centre and Lumiere in New South Wales, and Portside Wharf, The Wave and Hilton Surfers Paradise Hotel and Residences in Queensland.
Reflecting the global story, Brookfield Multiplex’s current Australian workbook has nearly a third of its $6.1 billion worth of current projects in the residential sector and is currently responsible for constructing some 50,000 apartments around Australia. This impressive workbook is underpinned by a blue-chip portfolio of clients including Far East Consortium, ICD/Sino Ocean, Hengyi, C BUS, Salvo Group, Central Equity, World Class Land, Fragrance Group, Greenland, Gurner, Ho Bee, CEL Australia, Metro Property Development and Shayher Group.
Nowhere is this more apparent in Australia than in Victoria, where in Melbourne’s CBD Brookfield Multiplex cranes and hoardings are abundant on the skyline and streetscape.
In the last two years, Brookfield Multiplex has completed a number of residential projects in Melbourne including the 600-apartment The Quays tower on the corner of Docklands and the Harbour Esplanade, Stage One and Two of the Upper West Side Apartments providing a total of 1,284 apartments and most recently the 661-apartment Prima Tower in Queensbridge Street, Southbank. It also has over $800 million worth of residential projects currently under construction in Melbourne including Upper West Side Stages 3 and 4, EQ Tower, The Lighthouse, Platinum Tower in Southbank along with Australis, Bella Apartments, Melbourne One and Southbank Grand.
So what is it about Brookfield Multiplex that has made it a leader in residential construction in Australia and more importantly, what keeps it there?
Known for its collaborative approach in partnering with clients, outperformance in delivering projects ahead of schedule and innovative construction methodologies – Brookfield Multiplex has also developed a reputation for its success in constructing complex high-rise towers in the CBD. Historically, Melbourne’s high-rise tower was 40 storeys whilst today; heights exceed 70 storeys not to mention the super high- rise in Australia 108.
“Building premium high-rise towers in the CBD environment is highly specialised and we have refined and developed our systems to overcome the challenges of building on small, restricted sites in live city environments,” said Graham Cottam, Regional Managing Director of Brookfield Multiplex Victoria.
A striking new architectural icon and the second tallest residential tower in Melbourne, the recently completed 72 level Prima Tower is testimony to the success of Brookfield Multiplex’s credentials in successfully delivering high-rise towers in the CBD. With a dramatic glass façade and range of premium finishes, Prima Tower was finished ahead of schedule as a result of Brookfield Multiplex’s honed expertise and tactical planning of construction stages.
“Something that works well for us in our approach is our early involvement with our clients. We like to partner with them from the very beginning of a project’s lifecycle so that we can work collaboratively together to achieve the best result. The earlier we are involved, the better the outcome, the more value we can unlock, more costs can be saved and usually, the faster the delivery of the completed project, often before the anticipated date,” said Mr Cottam.
As leaders in Early Contractor Involvement, most of the Victorian current projects have relationships that pre-date the actual construction commencement and Brookfield Multiplex has been able to share its expertise with clients, architects and key project team members to help develop concepts early in the project delivery process. During this phase scope and design are aligned with budget and programme, whilst build ability, aviation and site logistics are fully assessed by an experienced in-house team of programmers, estimators, construction managers, project managers and design managers backed by tier one sub- contractor inputs.
In Melbourne, Australia 108 and EQ Tower are both current examples of how Brookfield Multiplex’s early involvement has helped steer projects towards desirable outcomes.
Similarly in New South Wales, the group is about to commence work on one of the most exciting projects in the city – the 67-level Greenland Centre Sydney, set to be the tallest residential building in the Sydney CBD. When complete, it will rise 235 metres above ground level and its successful delivery will again rely on Brookfield Multiplex’s solid credentials, collaborative working style and innovative methodologies.
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About Brookfield Multiplex
Brookfield Multiplex has been delivering landmark property and infrastructure assets for more than 50 years. We are a leading international contractor with a focus on sustainable growth and a presence in Australia, the Middle East and Asia, Europe and Canada.
Established in 1962, we have 900+ works to date* with a combined value of more than US$64.6 billion (AU$68.8 billion).
We have expertise across the residential, health, retail, commercial, tourism, education, engineering and infrastructure sectors, and have earned more than 570 industry awards.
About Brookfield Asset Management
Brookfield is a global alternative asset manager with approximately $200 billion in assets under management. We have over a 100-year history of owning and operating assets with a focus on property, renewable energy, infrastructure and private equity.
We offer our clients a range of public and private investment products and services with a goal of delivering superior risk-adjusted returns.
Brookfield is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and on the NYSE Euronext under the symbol BAMA. For more information, please visit our website at www.brookfield.com.
“Greenland Centre will certainly become a landmark in the CBD, it will almost be as tall as Centrepoint Tower the tallest building in the city. Our early involvement in the project has been critical to the strategic planning and logistics required to deliver such a significant high-rise tower in what is arguably the busiest CBD environment in Australia,” said David Ghannoum, Regional Managing Director of Brookfield Multiplex New South Wales.
Further north in Queensland, residential projects also form a significant proportion of Brookfield Multiplex’s core business activity. It is currently building several high-profile residential projects including Rhapsody Surfers North, The Beach Apartments on the Gold Coast, Newstead Towers in Brisbane and the 651-apartment FV, its largest residential project in Brisbane in recent years
Adding weight to its capability, it was also recently appointed to deliver the 378-apartment Brisbane Casino Towers project as well as the luxury W Hotel as part of the Shayher Group’s 300 George Street development.
“In Queensland we have made our mark on the Gold Coast and Surfers Paradise markets with significant residential projects. We are now seeing Brisbane mature as infrastructure is delivered and urban renewal projects like FV start to create a real identity for residents. Now that activity in Brisbane is hotting up, we can apply that broad Queensland experience to the Brisbane market,” said Rod McDonald Regional Managing Director of Brookfield Multiplex Queensland.