EPF Partners OSK for the Melbourne Square Project

YPC was incorporated in New South Wales, Australia and holds the development rights for the upcoming 5-acre mixed-use development project Melbourne Square, located in Southbank, Melbourne. The remaining 51% interest in YPC is held by PJ Development Holdings Berhad (PJD), a subsidiary of OSK Holdings Berhad (OSK), via its wholly-owned subsidiary in Australia, namely P.J. (A) Pty Limited (PJA) and Equity & Property Investment Corporation Pty Limited (EPIC), which is 27.4% owned by PJA.

Speaking at the signing ceremony today, EPF CEO Datuk Shahril Ridza Ridzuan said, “The Melbourne property development befits EPF’s long-term objectives and will be a good addition to our overseas portfolio. This is EPF’s second development venture overseas after Battersea in London. The increasing demand for residential in Melbourne, Australia will enable EPF to generate returns for its members.”

Melbourne Square will mark OSK’s maiden foray into Melbourne, whose growing population and vibrant property market have received much interest from international developers in the recent years including several established Malaysian developers.

Melbourne Square will be an important destination within the world’s most liveable city as it also represents one of the last pieces of sizeable prime land available for an iconic development in Melbourne city. “This is an important project for Southbank’s future and it provides the delivery of critical community infrastructure that the city requires. We are delighted to partner EPF on this exciting project, and we hope to deliver a project which all Malaysians can be proud of,” said Tan Sri Ong Leong Huat, CEO/GMD of OSK Holdings Berhad.

The Melbourne Square development will transform a former carpark bounded by the Westgate Freeway and Kavanagh, Balston and Power Streets in Southbank into a dynamic mixed-use community and retail centre, with an expected GDV of approximately AUD2.8 billion. The project aims to give Southbank a “green heart” with a public park and network of leafy spaces as well as critical community infrastructure such as a childcare facility and a supermarket along with other retail options. Melbourne Square comprises of four towers of residential apartments, an office tower, a hotel/serviced apartments tower and multiple street-level retail lots across the various components. The project will be developed in 5 stages over 8-10 years.

Stage One of the development, which recently received the planning endorsement by the Victorian Government’s Department of Environment, Water and Planning, will feature the dynamic public realm alongside two shimmering elliptical residential towers. Slated for residential use, the towers have a capacity of over 1,000 apartments, with a GDV of over AUD900 million. Stage One will provide a showcase of green spaces and essential amenities including a beautiful urban park, a child care centre, a supermarket, restaurants and cafés, and a comprehensive set of residential amenities. The scale of the site has enabled YPC to deliver a differentiated set of features that should set Melbourne Square apart from the other residential projects that are on offer in Melbourne city.

YPC has appointed a list of top tier consultants for the project, including multiple award-winning Cox Architects to design the master plan and Stage One of the project, Carr Design for interior design services, Sinclair Brook for project management and CBRE as the sales agent for Stage One, which has just been launched in April 2017.

A Brand New Partnership – Datuk Shahril Ridza Ridzuan, CEO of EPF (second from right) exchanging documents with Tan Sri Ong Leong Huat, CEO/Group Managing Director of OSK Holdings Berhad (second from left). Looking on are (left) Mr Ong Ju Yan, Deputy Group Managing Director, OSK Holdings Berhad and (right) Puan Rohaya Mohammad Yusof, Head of Private Markets Department, EPF.

Artist’s Impression of Melbourne Square’s Stage One Residential Towers

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About OSK

OSK Holdings Berhad (OSK) is a conglomerate with diversified business interests in Property Development and Investment, Financial Services, Construction, Industries and Hospitality. As at 31 December 2016, OSK has shareholders’ funds of RM4.30 billion and total assets of RM7.73 billion. We have over 2,000 employees with business operations in Malaysia, Vietnam and Australia.

For more information, please visit our website www.oskgroup.com.

About EPF

The Employees Provident Fund (EPF) is Malaysia’s premier retirement savings fund, providing basic financial security for retirement. The EPF is committed to preserving and growing the savings of its members in accordance with best practices in investment and corporate governance. It will always be guided by prudence in its investment decisions. As a customer-focused organisation, the EPF delivers efficient and reliable services for the convenience of its members and registered employers. The EPF continues to play a catalytic role in the nation’s economic growth, consistent with its position as a leading savings institution in Malaysia.

For more information, please visit our website www.kwsp.gov.my.

For media enquiries, kindly contact: OSK Holdings Berhad

Foo Wen Sze
Head, Group Corporate Communications T : 03-2166 6225 ext. 380
E : wensze.foo@oskgroup.com

Mohd Farid Sumali
Manager, Group Corporate Communications T : 03-2162 1111 ext. 299
E : farid.sumali@oskgroup.com