Construction of AURA by Aqualand reaches its highest point

01/08/2023 | Apartments & Developments

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Construction of leading property developer, Aqualand’s, $1 billion AURA by Aqualand apartment development in North Sydney is progressing on track, with the building now reaching its highest point – or as known in the industry ‘topping out’.


Aqualand’s internal construction arm, Aqualand Construction, is taking a proactive and innovative approach to its end-to-end model, having brought on industry stalwart Thomas Catalovski as Executive Director of Development and Construction in 2018.


The in-house construction team has generated confidence and stability in a market currently beset with uncertainty. Chief Economist Nerida Conisbee deems it a game-changer.


“With the current uncertainty in the construction sector, it’s critical for developers to get projects out of the ground and uphold a healthy level of confidence in the market,” said Conisbee.


“Developers that maintain end-to-end control of their pipelines or have internal construction capabilities are well-placed to deliver quality projects to an undersupplied market. With record immigration inflows, we are looking down the barrel of a rental and housing crisis.


“Aqualand’s success in managing its construction pipeline internally serves as a testament to the importance of adaptability in the face of adversity.”


AURA’s internal construction process has been extremely well received by purchasers.


One buyer at AURA, Carolyn Stevens, said, “Aqualand’s experience with high-quality builds, particularly because they use their own construction team, builds confidence that the finished product will exceed our expectations.”


While another purchaser, Evelyn Cummins, said, “It’s reassuring to know that Aqualand has its own in-house construction team putting it in an enviable position in the current market.”


“It was important to Aqualand to manage all aspects of the development process to safeguard the integrity, quality, and safety of our projects,” explained Thomas Catalovski.


“Being able to take responsibility for the development lifecycle from end-to-end has been a massive advantage. We’ve been able to respond to market fluctuations with greater agility and flexibility, which has been key to managing escalation and keeping costs stable.”


Aqualand’s strategic decision to build a skilled in-house construction team puts them in an excellent position to capitalise on current opportunities in the market as several prime development sites come to market.


The Central Barangaroo project is one such prime development, for which Aqualand is now the developer and builder.


Nerida Conisbee asserts this, saying that the market will rely on well-capitalised developers to get projects out of the ground.


“Aqualand’s approach may well serve as a blueprint for other developers looking to secure their futures and contribute to Australia’s housing supply,” she said.


AURA’s new release is now selling, offering a refined collection of ultra-luxurious one, two, three, and four-bedroom residences – the most spacious homes on offer in North Sydney.


Complemented by exceptional resident amenities, including a world-class lifestyle concierge, a multi-level hospitality precinct, and an iconic address to benefit from North Sydney’s sophisticated future, AURA makes an outstanding investment.


With construction completion slated for mid-2024, there is no better time to secure your premium residence in Aqualand’s latest masterpiece.