Conquest Announces Its $1 Billion Eastlakes Project to Redefine Sydney’s East

Sydney’s eastern suburbs are set for a transformative revival with Conquest confirming a landmark $1 billion Eastlakes development, promising to breathe new life into a long-overlooked gem just 6km from the CBD.

Conquest, Private Equity Real Estate Firm, has successfully acquired Eastlakes Shopping Centre for $75 million, with the transaction brokered by Tim Grossman and Stuart Cox of Savills on behalf of receivers and administrators BDO.

Construction is set to commence in the coming weeks on a visionary mixed-use precinct that will redefine modern living in Sydney’s east.

The lifestyle precinct will include a world class Queensbridge Shopping Centre, anchored by Woolworths and featuring a curated mix of specialty retailers with a focus on food, beverage, and wellness. Complementing the retail precinct, six architecturally designed residential towers will rise above the shopping centre, that will elevate the standard of urban living, integrating world-class amenities and green spaces seamlessly into the community.

“Eastlakes City represents our commitment to shaping living spaces with a hospitality mindset—where residents enjoy the comforts of a five-star experience every day,” said Michael Akkawi, Founder and CEO of Conquest.

“From concierge services and wellness centres to gyms, cinemas, and golf simulators, our developments continue to set new benchmarks in quality living. Eastlakes City will establish a vibrant, community-driven precinct, seamlessly integrating with local green spaces through pedestrian-friendly designs,” he added.

The redevelopment is expected to have a significant impact on the broader community, driving property value growth, enhancing local infrastructure, and fostering commercial investment in the eastern suburbs.

“Eastlakes has been overlooked for too long, despite its prime location. This development is an opportunity to redefine the suburb as a thriving destination where people live, work, and connect,” Akkawi said.

Demolition of existing structures is scheduled to begin in the coming weeks with completion anticipated in 2028.

Eastlakes City marks one of two major Sydney projects for Conquest this year, alongside the $250 million mixed-use development at Castlecrag. Combined, these projects contribute to Conquest’s growing $5 billion pipeline, spanning developments in Sydney and London.

The Eastlakes City development is set to drive a broader wave of urban renewal, catalysing infrastructure expansion, commercial growth, and sustained investment into Sydney’s eastern suburbs.