KI-Star Real Estate Secures Additional Residential Development Site for About 230 Lots in Victoria, Australia
KI-Star Real Estate’s Australian joint venture MunCorp secured a residential subdivision development site for about 230 lots in Deanside, Victoria, Australia. MunCorp has already acquired and sold its first project in Deanside, and this will be its second development site in the area.
The site is located in the City of Melton, about 25 kilometers west of central Melbourne. Deanside is a growth area in Melbourne’s northwest, where residential land development and infrastructure improvements are moving forward. The area offers convenient access to the Western Freeway, providing connectivity to central Melbourne, the airport and major employment hubs in the western suburbs.
MunCorp was established in May 2023 as a joint venture between KI-Star Real Estate Australia, KI-Star Real Estate’s local Australian subsidiary, and Munjak. The company handles the acquisition and sale of residential development sites, primarily in Victoria. It aims to develop a cumulative total of more than 600 single-family homes and townhouses, mainly in Melbourne’s suburban areas, within about five years of its establishment. MunCorp also recently secured a residential development site for about 128 lots in Warragul, Victoria, continuing its activities in line with the strategy set at the time of its establishment. （see related article:KI-Star Real Estate Secures Residential Development Site for About 128 Lots in Victoria, Australia）
Key Facts
- Business Operator: MunCorp Pty Ltd
- Location: Deanside, Victoria, Australia
- Use: Residential subdivision
- Total Lots for Sale: Approximately 230 lots planned