Mirvac creates JV with Ping An
Mirvac Group has entered into a joint venture with Ping An Real Estate, a subsidiary of China-based Ping An Insurance Group, to develop residential projects in key cities in Australia.
The first project to seed the joint venture will be The Finery, Mirvac’s apartment development in Sydney’s Waterloo suburb. Mirvac will provide development, construction and sales management services.
Susan Lloyd-Hurwitz, Mirvac’s CEO and managing director, said in a statement, “We are thrilled to be entering into a joint venture with a substantial organization such as Ping An Real Estate, which provides Mirvac with the opportunity to expand the relationship to both existing and new projects.”
The Finery is located approximately 2.17 miles south of Sydney’s CBD and is close to the Sydney Airport, University of Sydney, University of New South Wales, Centennial Park and the Eastern Suburbs beaches. It is expected to comprise approximate