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Construction debt – Aura by Aqualand

Qualitas demonstrated its position as one of the largest alternative finance construction lenders in Australia...
October 23, 2023
Aura by Aqualand view

Qualitas demonstrated its position as one of the largest alternative finance construction lenders in Australia during the year when we provided a funding package of circa $600M to Aqualand Group.

The construction debt facility, believed to be one of the largest property development project finance arrangements provided by an alternative financier in Australia, is also the largest single facility ever advanced by Qualitas. Aqualand Group will use the finance to develop their mixed‑use AURA by Aqualand project located in North Sydney, New South Wales. The project has achieved ‘topping-out’ and incorporates a luxury 29 level mixed-used development, including 386 high-end residences, a retail and dining precinct and commercial spaces, and is forecast to be completed by mid-2024.

Landmark projects, like AURA by Aqualand, that contribute to urban regeneration and are developed with a commitment to sustainability, are imperative in the major Australian gateway cities that are experiencing historically low vacancy rates and heavily constrained supply of new residential product. Equally, as traditional financiers continue to reduce their residential and development loan books, alternative financiers such as Qualitas can step in and fill the gap in the market.

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