KUALA LUMPUR (October 5): SP Setia Bhd (KL:SPSETIA) officially launched its latest Australian project, Atlas Melbourne, at a preview event held at Setia International Center in KL Ecocity on Saturday.
Located at 383 La Trobe Street in Melbourne's Central Business District (CBD) and occupying a prime location of 2,850 square meters, Atlas Melbourne is a single residential building on a podium housing ground and ground floor retail. It is a 73-story mixed-use development consisting of a residential tower. , foyer space, and living facilities.
The project ranges from studios (29.2 to 40.2 square meters) and one to three-bedroom apartments (50.1 to 195.2 square meters) to sub-penthouses (211 to 444.1 square meters) and penthouse units (349.5 square meters). Sales prices range from A$410,000 to A$12.8 million (RM1.18 million to RM36.7 million).
Construction is expected to begin in the second quarter of 2025, and Atlas Melbourne will be developed in stages, with completion expected by mid-2029.
“Our products are very strategically acquired and positioned. We also sell in the right markets and are focused solely on CBD. Atlas Melbourne is our latest project and , in the heart of the CBD,” SP Setia (Melbourne) Development Co Pty Ltd general manager Sea Hunt Soon said at the launch event, adding that this is the first project launch in the CBD in six years. Ta.
Tim, Managing Director of Colliers International Residential (Victoria) Pty Ltd, speaks on Melbourne's residential property market outlook at the launch of Atlas Melbourne at Setia International Center in Kuala Lumpur Eco City.・Mr. Story.
He further added, “We have partnered with renowned architectural firms Fender Katsalidis and Cox Architecture. We value high quality design and sell at competitive prices. 73rd Floor The tower has a very nice podium and the project is very imposing. It is the design that will make the city beautiful.
Atlas Melbourne is within walking distance of Flagstaff Gardens, Queen Victoria Market, Melbourne Central Shopping Centre, State Library of Victoria, Emporium Shopping Centre, RMIT University, Bourke Street Mall and Chinatown.
Additionally, SP Setia held a series of lectures in conjunction with the release. Colliers International Residential (Victoria) Pty Ltd managing director Tim Storey said in a presentation entitled Melbourne CBD Apartment Market Outlook that real estate in Melbourne is currently “significantly undersupplied”. Ta.
“Supply levels peaked between 2016 and 2018. Planning constraints, lack of available land and construction costs are contributing to supply shortages. By 2033, Melbourne will account for 65% of the national housing shortage. Storey said the market needs more supply.
Meanwhile, AIMS Group Chief Executive Officer Peach Cheng, in her presentation 'Navigating Migration in Melbourne', spoke about recent policy changes that Australia has made in its migration strategy and how to settle in this country. We have explained some of the visa and immigration routes available to you.
