Finbar starts construction on $192 million Perth project
- Finbar Group has commenced construction on its Romeo development in Applecross, Perth, having already achieved $121.1 million in pre-sales.
- The project has secured 103 sales out of 155 total lots, representing 66% of the development's inventory sold since its March launch.
- The development forms the third and final stage of the company's Applecross Precinct, contributing to its $1.95 billion five-year project pipeline.
Finbar Group (ASX:FRI) has commenced construction at its $192 million Romeo development in Applecross, Perth, following $121.1 million in total pre-sales to date.
Sales momentum at the development has seen 103 total lots sold since its March 2026 public market launch, compared to recent activity since Aug. 1, where 18 lots were secured for $26.3 million.
The project comprises 152 residential apartments alongside three ground-floor commercial lots, with investors accounting for approximately 50% of sales completed since August.
Finbar stated that project completion at the site is anticipated in the first half of FY29.
Following the announcement the Finbar Group share price was unchanged at $0.70.
The Romeo development represents the third and final stage of the company's Applecross Precinct following its earlier Sabina and Aurora projects.
The broader precinct infrastructure delivered by the company includes a landscaped pedestrian link connecting Canning Highway and Kintail Road, with connectivity expected to be augmented by a proposed Swan River ferry service scheduled for late 2027.
