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Diploma Group secures two construction contracts in Australia

17 April 2012

Western Australian construction firm Diploma Group has won two contracts worth a total of $55m for the construction of apartments in South Beach and Port Coogee, Perth, Australia.

Developer Match Properties has awarded Diploma a $20m contract for the construction of 107 apartments, called Move Apartments, over three levels in South Beach, Fremantle.

Work on the contract, which is the fifth South Beach project Diploma Group has secured from Match Properties, will start in June 2012 and is scheduled to finish in 59 weeks, by June 2013.

Diploma Group CEO Nick Di Latte said: "The Move project will be our fifth for the Match Group and follows the successful completion in December 2011 of Stage 1 of Fort Knox redevelopment in Fremantle for Match."

Previously, Match awarded Diploma the Summer Apartment contract, also in South Beach, which is scheduled for completion in June 2012.

Diploma has also signed a $35m binding heads of agreement (HOA), which is subject to sufficient presales being secured for the development, with a subsidiary of TRG Properties to construct 101 apartments in the recently established Port Coogee marina precinct.

Designed by architects Cameron Chisholm and Nicol, the building will house one, two and three bedroom apartments over seven levels, which offer views of the ocean.

Construction work is scheduled to begin in September 2012 and the work on the contract is expected to be completed in 17 months.

Earlier this year, Diploma secured a $100m design and construct contract from Frasers Property Australia for a 26-storey residential tower in Perth, featuring 265 apartments.