AVJennings buys out partner in St Clair project
AUSTRALIAN developer AVJennings has completed the acquisition of the remaining 50 per cent interest in the St Clair project in South Australia from Urban Pacific Limited, a move that the residential developer says will have positive impact on its results for the current financial year and foreseeable future.
"With some 600 residential lots and apartment sites remaining, this project will continue to form a major component of AVJennings' results for some time," said Peter Summers, chief executive officer of AVJennings.
The acquisition had been flagged by the company when it released its full year results in August.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Samsung says Q1 operating profits soar nearly tenfold on-year
Far East Hospitality Trust Q1 net property income rises 6% to S$25.1 million
Boeing gets a welcome respite with US$10 billion bond offering
Hong Kong vies with US in Bitcoin ETF market after crypto’s revival
Chevron CEO expects ExxonMobil arbitration resolved in coming months
Paramount replaces CEO with trio as it talks merger with Skydance