Multi-residential construction surge a welcome boost to Victoria’s economy
Multi-residential masters Beulah International are in the midst of a construction boom with four projects, worth approximately half a billion dollars, now underway across the city.
Defying market odds, the Melbourne property developer has broken ground on Paragon (CBD), Habitus (South Melbourne),Fawkner House (South Yarra) and The Grounds of Kew (Kew) in less than a year, creating a total of approximately 700 jobs within the construction industry.
Led by Managing Director Jiaheng Chan and Executive Director Adelene Teh, the company also delivered a 100 percent settlement rate for its now complete Hallmark Ivanhoe development in January.
Already working on Habitus, Beulah International recently signed multi-residential specialists Ironside as the builder for The Grounds of Kew, while the formal appointment of builders for Fawkner House is imminent.
As the company continues its expansion, Jiaheng said it’s ability to deliver projects was down to the team’s scrupulous hands-on approach from concept to construction and completion, combined with a strong focus on premium and detailed design that was the biggest contributor.
“Our main driver is to continue delivering exceptional developments with our residents in mind. From humancentric design through to the highest building quality, our team is dedicated to achieving an unparalleled calibre of developments,” said Jiaheng.
Aware of the current market lull and reduced funding for developers, Jiaheng said purchasers and financial institutions have remained confident in Beulah International.
“No matter the market, our track record shows we have delivered on projects, whether that be securing debt from financiers, breaking ground or achieving a 100 percent settlement rate on time.
“In addition, we only seek to work with the best project teams across architecture, interior design, landscape architecture, engineering and construction to ensure the finished project reflects what we marketed,” said Adelene.
As construction forges ahead, Habitus is due for completion in the second quarter of 2020, while both Paragon and The Grounds of Kew are expected to be completed by the fourth quarter of 2020. Meanwhile, Fawkner House is expected to be complete in late 2020/early 2021.
Beulah International continues to make its mark as a developer of distinction, rethinking the way humans live to deliver spaces of wonder. In 2018, the developer embarked on a groundbreaking global architecture competition for its $2.5 billion Southbank project, crowning UNStudio and local firm Cox Architecture the winners.
Attracting international attention, the highly anticipated development continues to gain momentum with Beulah International recently organising and hosting a worldwide study tour for the two design teams.
Hoping to revolutionise Southbank (and the wider city) with this landmark mixed use building, the tour took them to Shanghai, Hangzhou, Singapore, Bangkok, Tokyo,London and New York.
“No matter the market, our track record shows we have
delivered on projects, whether that be securing debt
from financiers, breaking ground or achieving a 100
percent settlement rate on time.”
“We only seek to work with the best project teams across architecture, interior design,landscape architecture, engineering and construction to ensure the finished project reflects what we marketed.”