Malaysian developer invests $154m in Australia with Allens’ help

The deal helps one of Victoria’s largest-ever single development projects proceed, the firm says

Malaysian developer invests $154m in Australia with Allens’ help
Allens has advised on a major Malaysian developer’s investment in a joint venture for a billion-dollar project in Australia.

The firm aided OSK Holdings subsidiary PJ Development Holdings on its joint venture with a subsidiary of Malaysia’s Employees Provident Fund (EPF).  The EPF subsidiary acquired a 49% stake the joint venture for $154m.

The investment paves the way for the development of the $2.8bn Melbourne Square project, which Allens said will be one of Victoria’s largest single development projects. The project located on Kavanagh Street, Southbank, Melbourne will feature residential apartments, a retail mall, an office tower, a hotel, and serviced apartments.

The Allens team was led by corporate partner Mark Malinas and managing associate Jessica Choong.

Malinas said that the joint venture demonstrates the continued interest by Asian foreign investors in Australian real estate assets.


Related stories:
These firms dominated Greater China into Australia deals in 2017
Firms act as bank makes major investment in fintech company

Recent articles & video

UK family lawyers launch mental health resource for divorce clients

Bankruptcy attorney Jamie Sprayregen departs Kirkland & Ellis for Hilco Global

DLA Piper bolsters US-Africa practice with Kalidou Gadio as new co-chair

Lander & Rogers launches workplace law elective at QUT

CE Family Law's Louise Hunter had an Erin Brockovich for a grandma

WFW picks up win at 2024 Australian ADR Awards

Most Read Articles

Two Australian lawyers ascend to partner in major HFW promotions round

ALRC releases anti-discrimination, religious educational institution law recommendations

G+T puts teams on M&A deals

Three additions enhance G+T's partnership