More than 50 apartments will go up in Carnegie, which is a suburb south of central Melbourne. Brochure printing from Caulfield could be used to promote the properties to the public
Datuk Lee Tian Hock, a senior executive for MCHB, told The Star Online:
“Although we are confident that the units would be sold out, we decided to start our first foreign project on a small scale to mitigate any potential risk. We are already being offered properties in Melbourne and I can confidently say that the M.Carnegie will not be our first and last project in Melbourne which has been ranked as the world’s most livable city.”
In total, 20 units have reportedly found buyers already. There may be more interest in the properties in the near future, because stamp duty is about to increase by 4%. The policy change will impact by next month, but the construction work on the scheme is not scheduled to be completed until November 2017.
The location of the site may also prove to be a pull factor. MCHB has pointed out that local schools and transport links are close at hand. In addition, the large Chadstone Shopping Centre is in the vicinity. Monash University in Caulfield is also highly accessible from where the apartments will be based.