WA-based residential property developer Peet has bought a 15-hectare parcel of land from the University of Canberra for $67 million, with a view to build a 1,600-residence development.
ASX-listed companies have detailed roughly $2 billion in JobKeeper payments spanning the last two financial years, with only a handful making voluntary repayments.
Land developer Peet has launched legal action against three companies it contracted to design and build retaining walls within its 2,800-lot Shorehaven residential estate in Perth's north.
Property developers Cedar Woods and Peet have posted their full year results, with both disclosing the impacts of COVID-19 on sales and construction starts.
Peet has announced a major restructure to cut costs, including the divestment of $75 million of non-core projects and annual savings of up to $7 million.
SPECIAL REPORT: WA's residential land developers are cautiously positive the market is rebounding, but likely economic disruption from the COVID-19 pandemic could press pause on the recovery.
SPECIAL REPORT: Battered by the biggest downturn to hit the property sector in decades, WA land developers remain in survival mode as they await an expected recovery.
Western Australia-based land developers Cedar Woods Properties and Peet have booked solid half-year profit lifts, with both companies' diversified portfolios placing them on solid foundations for future earnings growth.
SPECIAL REPORT: There can be wide differences between the statutory pay reported by listed companies and the ‘take home' pay of their senior executives.
SPECIAL REPORT: There has been a notable reduction in the number of high-earning executives in WA, though some individuals do well year after year, research by Business News has found.
Land developer Peet has continued to diversify its business after being selected as the state government's partner for a $45 million high-rise apartment project near central Perth.
BGC Development's Westin Hotel and Hibernian Place development was picked as the top project in Western Australia in this year's Urban Development Institute Australia WA awards.
Property developer Peet has reported an increase in net profit after tax for the 2018 financial year, entering FY19 backed by a state government contract for a 220-hectare landholding in Brabham, near the Swan Valley.
The state government has announced a new board to run the Metropolitan Redevelopment Authority and LandCorp in the lead up to their planned merger, with just one board member from the MRA continuing on the new body.
The Metropolitan Redevelopment Authority has disclosed that the majority of public submissions on the $450 million Iconic Scarborough development supported the project, but said all government agencies and utilities it consulted, with the sole exception of Tourism WA, opposed it.
SPECIAL REPORT: The five WA people with the largest holdings in listed companies have earned around $1.5 billion in dividends in the past five years, with Andrew Forrest and Kerry Stokes leading the way. Click through for our list of 50 directors and investors with holdings worth more than $11 billion between them.
A new feature on the Business News web site that tracks the changing wealth of Western Australia's company directors shows Tony Lennon and Peter Cook are among the winners over the past month while Kerry Stokes and Andrew Forrest have gone down.
SPECIAL REPORT: WA's residential property sector is starting to show signs of stabilising, amid increased industry innovation and evolving housing types.
Peet managing director Brendan Gore says strong market conditions on the east coast helped the land developer achieve a higher net profit for the 2017 financial year.
Land developer Peet is planning to establish a joint venture with Perron Group after being named by the state government as its preferred developer for the Brabham housing project near the Swan Valley.
Land developer Peet says it doesn't expect conditions to improve in Western Australia in 2017, as it continues to push its long-running strategy to focus its operations outside of its home state.
SPECIAL REPORT: Developers are working more closely than ever with Western Australian builders to provide a diverse range of housing options to cater for changing lifestyles in a rapidly evolving market.
SPECIAL REPORT: Last year couldn't end soon enough for the state's land developers, who are banking on a break from adverse conditions. Click through to see our BNiQ list of land developers.
An improved performance by some of the state's miners boosted the Business News index of listed Western Australian companies, the BN30, to finish almost 19 per cent higher over the year (2016).
Perth-based land developer Peet has sold a parcel of land in Victoria for $30.5 million, but it doesn't expect to receive any proceeds from the deal for nearly a year.
The Business News index of 30 Western Australian companies outperformed the ASX200 in the September quarter on the back of stronger showings from a handful of miners and contractors.
LWP Property Group has launched two new land estates in Perth's southern suburbs, shrugging off slowing market conditions that are forcing other developers to look interstate.
