CEO Adrian Puljich, who runs Living Gems, his father Peter’s business created in 1982, said the sale of eight LLC communities to AVID Property Group injects capital to allow the family to continue expanding the Living Gems LLC footprint.
AVID’s purchase delivers $285M while Stockland's purchase of five Living Gems sites in July delivers $210 million, totaling $495 million.
“While South East Queensland remains a key market, we are also looking at opportunities to grow Living Gems across Queensland and into other states, delivering communities that set new benchmarks in terms of recreation and leisure facilities and high-quality homes,” Adrian said.
“My father’s pioneering spirit is deeply etched into the DNA of Living Gems, which drives us to continually evolve and enhance our offering to create new and dynamic experiences for residents.”
Two new development applications have been lodged:
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113 single-storey dwellings on 6.54ha of land at Glass House Mountains on the Sunshine Coast.
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166 single-storey dwellings on 8.85ha at Tamborine Mountain, in the Scenic Rim Region, 39.6km from the Gold Coast.
Innovative Planning Solutions has been commissioned by LG Resorts No 1 Pty Ltd for the project.
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