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Country Garden's Australia unit launches A$1.9B residential project in Melbourne

The Australian arm of Chinese developer Country Garden Holdings Co. Ltd., in partnership with Mercator Developments, launched a joint A$1.9 billion residential project at 40 Cameron St. in Melbourne's Cranbourne East suburb, The Urban Developer reported.

The 4,700-lot masterplanned Windermere development marks Country Garden Australia Pty. Ltd.'s first large-scale house and land project, company CEO Guotao Hu told the news outlet. The project is being built on a 363-hectare site that it bought in July 2017 from Phileo Australia Ltd. for A$400 million.

The development's launch follows Country Garden Australia's acquisition earlier in October of a development site spanning eight hectares in Cranbourne East for an undisclosed amount, the Oct. 12 report added.