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Finbar Group Limited ( (AU:FRI) ) just unveiled an update.
Finbar Group Limited has acquired a 13,540 sqm development site in Palmyra, Western Australia, for $5.5 million plus GST. The site, which has an existing Development Approval for 130 residential apartments, is expected to contribute positively to Finbar’s earnings by FY2028, with an estimated end project value of $88 million. The acquisition, subject to FIRB approval, strengthens Finbar’s development pipeline and supports its strategy to meet Perth’s medium-density housing demand.
More about Finbar Group Limited
Finbar Group Limited is a leading apartment development company based in Western Australia. The company focuses on creating residential apartment projects and has a strong presence in the Perth area, leveraging its robust cash flow to enhance shareholder value.
Average Trading Volume: 94,742
Technical Sentiment Signal: Buy
Current Market Cap: A$194.6M
For a thorough assessment of FRI stock, go to TipRanks’ Stock Analysis page.