Only two years after establishing an Australian team, Singapore’s Ho Bee Land has proven itself as a serious developer in the land market under the HB Land brand. On the back of a just announced $142m acquisition of the Aitkin Hill Conference centre in Melbourne’s north HB Land now holds a land bank of over 4,000 lots and has a portfolio of 14 projects across South East Queensland and Melbourne.
Having already fully completed their first project at Bli Bli on the Sunshine Coast, HB Land now has 6 projects selling and under construction. In Queensland the 577 lot Bellevue Ripley project (bellevueripley.com.au) and 323 lot The Pocket at Collingwood Park (thepocketlife.com.au) are selling exceptionally well with multiple stages under construction and the first stages due for completion early in the new year.
In Melbourne, the 119 lot Carrington project at Officer (carringtonofficer.com.au) is under way with the first four stages sold out and some large premium hill top lots about to be released. Out in Melbourne’s west the 755 lot master planned community in Tarneit called Unity Park (unitypark.com.au ) has just been launched with stage 1 selling out in the first week and construction commencing on site in November. In addition to the Victorian land market, HB Land have partnered with high profile luxury home builder Mckimm to deliver two high-end apartment projects in Elwood and Brighton.
The HB Land team is actively working on planning approvals for future projects in Park Ridge (QLD), Gympie (QLD), Morayfield (QLD), Mickleham (VIC) and now Craigieburn (VIC). Each of these projects will be progressively released for sale over the next two years.
The HB Land business is headed up by Michael Vinodolac (HB Land CEO) who was formerly the Chief Operating officer at Villa World. Michael is supported by several of his former colleagues from Villa Word and has recruited several other property professionals to join the team. In under two years, the HB Land team has established the business as a major entrant within the land development sector.
Michael Vinodolac said “the HB Land business is committed to growing a substantial footprint across the east coast of Australia, where it can deliver high quality housing estates. HB Land seeks to meet the needs of the Australian buyers wanting to realise that great Australian aspiration of building their dream home. The key drivers for us are always making sure we buy in good locations where demand will remain strong through the cycles. Delivering lots which are ready for builders to commence work, this will help minimise site costs for our purchasers. Finally, enforcing estate covenants will ensure that the quality of the estates we deliver will live up to our buyers expectations. As the new kid on the block, it is really important that we do a better job than our peers. To do this we spend a lot of time focusing on the little details that will ensure the desirability of each estate endures well beyond our period of involvement.”
National Acquisitions Director Tim Kelly said, “We are very pleased with the portfolio of assets we have put together over the past two years. Our approach has always been to thoroughly understand the challenges and opportunities of each site and then moving quickly when the right opportunity arises.”HB Land is a subsidiary of Ho Bee Land – a leading Singaporean developer of luxury homes established in 1987, today with a portfolio covering high-quality residential and commercial projects spanning across Australia, Europe, Asia and the United Kingdom.