Aspial to build Melbourne's tallest tower

ASPIAL Corporation Ltd has acquired a freehold development in Melbourne for A$42.3 million (S$47.6 million), and plans to turn it into the tallest building in the city that will offer a gross floor area of more than a million square feet of residential and commercial space.

This is the jewellery and property group's second major overseas acquisition, coming just weeks after it announced its first overseas foray in the Australian city.

Aspial, in a statement, said it intends to build a 312-metre-tall residential and commercial tower that will be Melbourne's tallest building when completed.