Construction PRO

The Belmont Citi Shopping Centre has changed hands after 27 years, with a private investor scooping up the popular NSW shopping destination for $40 million. 

Hong Kong-based investors Chow Tai Fook Enterprises and Far East Consortium plan to terminate a $53 million agreement to buy out Star Entertainment's stake in the Queen’s Wharf entertainment project in Brisbane.

A restructuring proposal by the founder of Roberts Co has won the approval of creditors of the developer, which are owed a total of $100 million.

Saint Gobain-owned CSR faces litigation by an independent building insulation distributor alleging it abused its dominance by upping prices during the pandemic.

Liquidators for iProsperity have been given the greenlight to enter into retainers with Norton Rose Fulbright to pursue claims against the defunct property group’s general manager and Crown Melbourne.

Under proposed reforms to NSW tenancy laws, businesses that publish misleading photographs of rental penalties will face penalties of up to $22,000 and face new requirements for securing renters' personal data.

Jones Day has lured a real estate expert from Clayton Utz to join its Brisbane office as a partner.

Developer Geocon has lost its bid to strike out claims in a case over Canberra's Infinity Towers that it breached statutory warranties, with a judge saying it was a difficult legal issue best left for trial. 

Centuria Capital Group has divested an office block in Sydney’s southern suburbs for $116 million after holding it for nine years.

Liquidators of Snowdon Developments have brought proceedings against building suppliers to claw back more than $2 million in payments they say were made while the Victorian developer was insolvent.