True to his word, Stockland CEO Tarun Gupta is intent on building and buying land lease communities to become the market leader in Australia.

It has 7,200 land lease home sites in the pipeline, settled 248 home sites in the financial year to June and has 499 contracts for sales after buying Halcyon Group for $620 million.

The head of the diversified property group also promised the formation of the Stockland Residential Rental Partnership with Mitsubishi Estate Asia will enable Stockland to accelerate the growth of its land lease platform.

“Our Land Lease Communities business continued to scale at pace through the year. Integration of the Halcyon land lease business has increased our footprint to a total portfolio size of 9,000 home sites, including a development pipeline of 7,200 home sites,” Tarun said.

“Over FY22, our total portfolio footprint more than doubled to 9,000 home sites, including 7,200 home sites in our development pipeline. Our increased scale was achieved through the strategic acquisition of Halcyon Group’s land lease business and by leveraging Stockland's competitive advantage and deep expertise in residential land acquisitions.

“We have also identified further Land Lease Communities home sites across our Masterplanned Communities landbank. Development activity has accelerated across the platform over FY22, with 1,300 home sites currently under development. The acceleration and expansion of our development pipeline is expected to result in increased settlement volumes over time, and drive an increase in future year margins as we grow our Land Lease Communities platform.”