Join our daily newsletter At The Bell to receive exclusive market insights
- Chinese property group Boyuan Holdings (BHL) has extended the completion date for its Bringelly housing development to November 2022
- Earlier this year, Boyuan bought 40.5 hectares on the Northen Road at Bringelly for $70 million
- The extension provides the company with more confident planning, prior to completing the acquisition, and will take advantage of the growth around the Aeropolis Core
- Boyouan is down 6.67 per cent on the market this morning and is trading for 14¢ per share
Chinese property group Boyuan Holdings (BHL) has extended the completion date for its Bringelly housing development to November 2022.
Earlier this year, Boyuan bought 40.5 hectares on the Northen Road at Bringelly for $70 million and now has the option to purchase the additional 40.5 hectares next to it.
The company is planning on building a 7-hectare village surrounded by 600 housing lots, averaging at 400 square metres per lot.
Bringelly is situated 14 kilometres south of Sydney’s second airport at Badgerys Creek.
Boyouan now plans on finishing the development by November 2022 and has an option to pursue a 6-month extension.
“This is a very strategic investment for the company to be in the South West and aligns with current developments in which we are involved,” Deputy CEO Adam Pearce said.
The extension provides the company with more confident planning, prior to completion of the acquisition, and will take advantage of the growth around the Aeropolis Core.
Boyouan is down 6.67 per cent on the market this morning and is trading for 14¢ per share at 10:07 am AEDT.
