Crown Unveils $296m Waterfall Apartment Project in Sydney
Jakarta. Sydney-based developer Crown Group Holdings unveiled on Friday (19/05) its latest apartment project in Australia's capital to Indonesian customers in a bid to woo potential investors.
The project, known as Waterfall by Crown Group, will feature a seven-floor high man-made waterfall, the tallest of its kind in Australia, Crown's Indonesian-born co-founder Iwan Sunito said in a statement.
The project is estimated to cost nearly Rp 4 trillion ($296 million) and will house 331 separate units.
"Beautiful landscape has been a core inspiration for Crown Group's development, and with Waterfall, we want to take it to the next level, bringing nature back to the city," Iwan said.
Crown Group has been aggressive in marketing its projects to Asian investors, including Indonesians, who want to provide comfortable living for children studying abroad while increasing their foreign assets.
The group said Indonesia and mainland China are home to Crown's largest customer bases.
The company is slated to begin construction on the Waterfall project this year, which is expected to be unveiled to the public by 2020.
The building will be located in Sydney's once industrial Green Square Precinct and will be situated nearby to Crown's other luxury apartment project, Infinity, which is slated to be complete by 2019.
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