Leading Malaysian development group OSK Property, formally know as PJ Developments have been granted approval for the first stage of a $2.8 billion dollar mixed-use development project in Melbourne's Southbank. The project is reportedly one of the largest development proposals ever submitted to the states planning department.
Located at 93-119 Kavanagh Street, the development has been named 'Melbourne Square' in reference to the overall design of a the project which will be built over six towers, ranging in height from 30 levels to 65 levels. Melbourne Square, designed by the renowned Cox Architecture will include over 60,000 of office space, shopping centre, childcare facility, 687 hotel / services apartments and a staggering 2610 apartments.
The first stage will showcase in excess of 1000 apartments with the pre-sales set to begin mid 2017.
OSK paid a record $145 million to acquire the site in June 2014, with chairman, Tan Sri Ong Leong Huat saying "It is our hope that Melbourne Square will be an important destination within the world's most liveable city,"
Cox Architecture worked with landscape architects Rush Wright Associates for the masterplan and Taylor Cullity Lethlean for the first stage. "A deliberate decision was made to significantly exceed the open space area requirements," said Cox director Ian Sutter.
Other Malaysian development groups that continue to deliver substantial projects in Australia include, SP Setia whom have recently lodges plans for a $640 million twin tower project and UEM Sunrise who are behind the $770 million Aurora Melbourne development which when complete will be the second tallest building in Melbourne.