Construction PRO

Dyldam Developments' former boss Sam Fayad and his two sons have been ordered to pay over $50 million in a case by the liquidator of a special purpose vehicle claiming company funds were misused.

A superintendent on a $25 million Melbourne project had no power to make an adjustment to a payment claim for purported cost overruns that left the builder owing more than the value of its claim, a judge has held.

Irish renewable energy developer DP Energy has announced plans to develop a 1,400 WM wind farm in McKinlay Shire, Queensland, citing the project site's "optimal wind speeds" and distance from dwellings.

The body corporates for beachfront blocks on the Gold Coast have failed in their bid to knock back two land valuations by a combined $28 million, with a Land Court member finding oceanfront land fetches a higher premium.

Real estate returns are rebounding across all sectors, with the office sector entering a recovery cycle, led by the Sydney CBD, according to a new report from Dexus. 

Fletcher Building says it has begun exploring divestment options for its construction divisions following a restructure, after confirming inquiries from prospective buyers last month. 

A court has found that United Petroleum is not bound by the terms of a signed lease offer sent to a neighbouring Gold Coast pharmacy operator, ruling the company’s property consultant had no authority to negotiate or enter into a new lease on its behalf. 

Ashurst has advised renewable energy company AMPYR Australia on a novel equity partnership and participation model with the Aboriginal community for a battery energy storage system in NSW's Central Western Slops region.

Brookfield has scooped up a 19.9 per cent stake in real estate investment manager Cromwell Property Group.

Joining CBRE Investment Management in fast-tracking developer Aliro Group’s flagship industrial vehicle, Canadian super fund PSP Investments has committed up to $800 million for investment.