TA to develop residential project in Sydney

TA Global Bhd has signed a 50:50 development sponsorship agreement with Sydney-based property funds management and development company Charter Hall Group to develop the A$600 million (RM1.84 billion) Little Bay residential project in Sydney, Australia.

The project, on 13.6-ha of Sydney’s prime coastal area, was acquired by Charter Hall’s Opportunity Fund No 5 in early 2008.

It is expected to include over 500 dwellings, comprising houses, townhouses and apartments.

In a statement, TA Global executive chairman Datuk Tony Tiah said the development was a highly attractive opportunity for the group to expand in Australia.

By Business Times