Top Australian developer to double debt

Meriton wants to harness record low interest rates for land acquisitions

[SYDNEY] Meriton Pty, Australia's biggest apartment developer, plans to double its debt this year from about A$300 million (S$340.8 million) to buy land amid record low interest rates and soaring demand for apartments.

"I've now a lot more empty land available, and the land goes up; it's a very good investment," Harry Triguboff, the billionaire founder and managing director of closely held Meriton, said in an interview in Sydney. "Land values are going up a lot in Sydney, but it's feasible to build...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to