Downer EDI secures $400M Victorian housing contract
Key points
- Downer EDI received a social housing maintenance contract in Victoria valued at approximately $400 million.
- The agreement expands the company's housing services into Victoria with an initial five-year term starting Feb. 1, 2027.
- The contract aims to support social housing maintenance operations across the Department of Families, Fairness and Housing East Division.
Downer EDI (ASX:DOW) was awarded a new property maintenance contract by Homes Victoria valued at approximately $400 million over its full term.
The agreement marks the company's expansion into Victoria, building on its existing maintenance contracts across New South Wales, Western Australia, South Australia, and New Zealand.
CEO Peter Tompkins said the new contract expands Downer’s significant social housing maintenance footprint to now include Victoria.
The contract begins on Feb. 1, 2027 with an initial five-year term plus extension options for up to nine years to cover responsive maintenance, planned maintenance, vacant property restorations, and upgrade works.
The agreement reinforces the company's service scope across Australian states.
Following the announcement, the Downer EDI share price was up at $7.22.
Downer operates as a primary provider of social housing maintenance services across Australia and New Zealand.
The business maintains long-term property and facilities management operations for government agencies across multiple regional markets.
Frequently asked questions
More from Australia
St Barbara receives Touquoy restart approval
Neurizon Therapeutics raises $6.3M to strengthen capital
Volt Group cuts annual revenue and EBITDA guidance
Paterson Resources starts largest drill program at Grace Gold Project
Estrella Resources starts drilling at Timor-Leste project
Australia's national home values fall 1.2% in October
