Funds giant Charter Hall, best known as the owner of office towers, warehouses, pubs and malls, has quietly put together a portfolio of 1000 apartments for development, as it taps its vast land bank for opportunities to address the national housing shortage.

Recognition of that residential play – a relatively new element in Charter Hall’s commercial property portfolio – came as managing director David Harrison delivered upgraded guidance for full-year earnings, backed by a strong performance in its investment business in the first half.