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The latest update is out from Finbar Group Limited ( (AU:FRI) ).
Finbar Group has reached the topping out milestone at its Garden Towers project in East Perth, confirming that structural works are complete on what will be the largest development by lot count in the company’s 30-year history. The project comprises 330 apartments and 1,157 square metres of ground-floor commercial space across two towers, with resident amenities including a lap pool, virtual golf simulator, business lounge and a Skybar, and benefits from proximity to Queens Park, the WACA precinct, a new primary school and Perth’s CBD.
The $290 million joint-venture development has recorded strong pre-sales, with 279 apartments, or 81% of the total, already sold, representing $208 million in contracted value and underscoring persistent demand in a market constrained by a supply-demand imbalance. Finbar expects settlements, subject to remaining construction, approvals and standard conditions, to commence in the first half of FY2027, positioning the project as a key contributor to future earnings and reinforcing the company’s leadership in Perth’s apartment sector.
More about Finbar Group Limited
Finbar Group Limited is one of Western Australia’s largest and most established apartment developers, with more than 30 years of experience delivering 79 residential projects and over 7,400 apartments valued at $4.5 billion. The ASX-listed company focuses on high-density, well-located urban developments in Perth, targeting strong demand for quality residential product in undersupplied markets.
Average Trading Volume: 158,342
Technical Sentiment Signal: Hold
Current Market Cap: A$208.2M
For detailed information about FRI stock, go to TipRanks’ Stock Analysis page.