The JV company, SG15, has an initial issued and paid-up capital of A$100 divided into 100 ordinary shares and will be engaged in the business of multi-resident residential property development projects in South-East Queensland. Ventrade Australia and BHHP15 each hold 50% of the total equity interest in SG15, thereby resulting in SG15 becoming an associated company of Chuan Hup.
Chuan Hup Holdings’ wholly-owned Australian subsidiary, Ventrade Australia, has entered into a joint venture with BHHP15, an associated company of Siera Group, to acquire and develop a development land site located in Surfers Paradise, Queensland.
Siera is a boutique residential property developer and builder, specialising in medium-density housing, luxury homes, and small lot subdivisions in South-East Queensland. Established in Brisbane in 2014, the Siera Group has developed more than 70 residential dwellings in key growth markets in South-East Queensland. The Siera Group’s current portfolio comprises a mix of luxury apartments and terrace homes.
