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An announcement from Gemlife Communities Group ( (AU:GLF) ) is now available.
GemLife has signed an unconditional contract to acquire a 32.5-hectare greenfield development site in Townsville, Queensland, for $21 million. The project will include over 500 manufactured home sites and community amenities, expanding its portfolio to 33 communities with 10,413 expected homes upon completion. The acquisition aligns with GemLife’s strategy to grow its presence in high-demand areas and secure long-term shareholder value, bolstering its development pipeline and solidifying its position in the market for resort-style, over-50s communities.
The most recent analyst rating on (AU:GLF) stock is a Buy with a A$5.55 price target. To see the full list of analyst forecasts on Gemlife Communities Group stock, see the AU:GLF Stock Forecast page.
More about Gemlife Communities Group
GemLife is a leading developer, builder, and operator in Australia’s Land Lease Community sector, specializing in premium resort-style communities for individuals aged 50 and over. Through a vertically integrated model, the company delivers high-quality, low-maintenance homes with diverse lifestyle and recreational amenities, fostering active and socially connected living for its residents.
Average Trading Volume: 587,178
Technical Sentiment Signal: Strong Buy
Find detailed analytics on GLF stock on TipRanks’ Stock Analysis page.