- Jinding will use the funds to expand its apartment and land project pipeline
- Comes despite a slowdown in the market
- Pipeline is presently $1.8B
Jinding, a diversified Australian property firms, has secured over $100 million in debt-funding activities since the beginning of this year.
The announcement comes as Jinding seek to pursue further acquisitions to grow its apartment and land project pipeline.
National Australia Bank (NAB), Wingate and Metrics are among the lead financiers that have partnered with Jindang during the year so far.
Currently, the developer’s pipeline in Victoria includes master planned projects such as Harriott at Armstrong Creek, octave at Junction Village, The Patch in Wollert and Sora on the Gold Coast.
“The commitment from high calibre financiers NAB, Wingate and Metrics, as well as the sheer quantum of funds raised are terrific proof-points of the strength of the Jinding business and quality of our residential communities,” said Jinding CEO Luke Guthrie.
“After several years of operation, we are now successfully progressing settlements at our best-in class residential communities, which seek to redefine the residential living experience in Australia.
“This marks an exciting time for the business as our first customers move into their thoughtfully curated communities.
“We’re looking forward to continuing to build our presence in the market and expanding our development pipeline with strategic acquisitions. We have particular interest in further Queensland expansion as well as doubling down in Victoria.”
The fundraising activities come off the back of a strong second half of 2021 for the company.
During this time, Jinding’s developments division announced a huge catalogue of strategic acquisitions across Kilmore, Wollert and Greenvale, covering 130 hectares and totalling over $162.5 million.
Currently, the developer has a $1.8 billion pipeline, comprising of 4,775 lots.
Established in 2016, the Real Estate division has sold over 3,100 residential homes worth over $2.3 billion.