The collapse of building company Probuild, which had 18 active projects, has left hundreds of workers unemployed while developers are scrambling to find alternatives at a time when Australia’s construction industry is under immense pressure.
Adding complexity to an already chaotic situation, many of Probuild’s former projects are large, complicated developments with hundreds of millions dollars at stake, while its clients include some of the biggest names in Australian property.
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Martin Kelly is a property reporter based in Sydney covering all aspects of commercial and residential real estate including major deals, market trends and developments. Email Martin at martinkelly@afr.com