Nova City Flurry

Aspial, Singaporean developer of the Nova City project in Cairns spun off their Malaysian and Australian interests on The Singapore second board last year as World Class Global.

WCG half year report as at June 30 2017:

Nova1

WCG quarterly report as at September 30 2017:

Nova2

Marketing email for Nova City received today from Irene at World Class Global:

I hope that you have had a wonderful break and ready for all the exciting things this new year will bring!

The most exciting thing of course, will be to see Nova City coming out of the ground. Construction is starting with pilings, the beginning of April!
We had a flurry of buying just prior to Christmas which saw some of our best two bedroom apartments sell to some local Cairns buyers so we recommend that if you are looking to purchase one of our apartments, that you beat the rush and secure your preferred apartment now. We only have 5 one bedroom apartments left and limited floors available on the front overlooking the CBD skyline and out to the Coral Sea.

WCG full year report as at December 31 2017:

Nova3

That’s some flurry. There have been reports of construction tenders with construction to commence soon to qualify for council discounts on headworks charges. The most recent numbers above are from the full year report lodged with Singapore Stock Exchange last week with the only commentary on Nova progress:

In the next twelve months, the Group will continue with the sale of Nova City project and intends to launch Albert Street project in Brisbane, Australia, subject to market conditions in Brisbane then.

While there is commentary on construction progress of the Melbourne properties there is no mention of construction commencement at Nova which seems remiss given marketing and media reports. Nova has yet to appear in the ABS building approvals with most recent data to December.

 

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