Chanticleer

Stockland cranks up residential

Stockland will step up its competition with Mirvac and Meriton in apartment developments, anticipating a return to immigration of 200,000 a year by 2023.

Nov 8, 2021 – 12.10pm

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Stockland chief executive Tarun Gupta will be selling $1 billion to $2 billion in shopping centre and retirement assets as the company cranks up its exposure to residential development over the next five years.

The country’s largest residential developer will increase its investment in apartments as it seeks to capitalise on a return to pre-COVID-19 immigration levels and the 50 per cent price gap between detached and attached dwellings.

Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist.