Aveo’s parent company climbs out of the GFC

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Aveo’s parent and Top Five property developer, FKP, has followed a two day strategy meeting with a bullish announcement they now have the capacity – land and cash – to build 1,500 homes. CEO Peter Brown says the cost of loans however have pushed cost of funds out by almost double the basis points to pre GFC. He says this makes them less of a takeover target for Stockland who has first option on their retirement assets.