In a major milestone for Sydney’s urban transformation, leading Sydney developer Deicorp has received planning approval from the Department of Planning, Housing and Infrastructure for Kings Bay Village, a visionary $1.8B mixed-use precinct set to re-imagine three hectares of underutilised land in Five Dock.
Located at 129-154 Parramatta Road, this State Significant Development will breathe new life into the Parramatta Road Corridor, delivering 1,185 new homes — including 218 affordable dwellings for essential workers — along with 6,500 sqm of public open space, and 14,700 sqm of vibrant retail and commercial offerings.
Designed by award-winning architects TURNER, Kings Bay Village is inspired by the area’s industrial legacy, blending classic brick facades and distinctive rooflines with modern urban form. The precinct will feature six buildings of varying heights that offer sweeping views of Kings Bay, Iron Cove and the Sydney CBD.
Positioned just minutes from the future Five Dock Metro Station, Kings Bay Village is the first major urban renewal project supporting the NSW Government and City of Canada Bay Council’s bold vision for the Parramatta Road Corridor, and will contribute over 23 per cent of the Council’s 2029 housing target of 5,000 new homes.
In addition, Deicorp is committing more than $80 million to fund upgrades to local infrastructure, including more than $10 million public domain works, delivering new pedestrian laneways, an activated streetscape, and a 2,290sqm landscaped park and civic plaza — designed to become the social heart of the community.
Deicorp Chairman, Fouad Deiri OAM, said it was an honour to have Kings Bay Village endorsed as a State Significant Development. “This project represents everything Deicorp stands for — considered design, community impact, and delivering homes where they’re needed most.
“We’re proud to be the first major development to support the NSW Government and City of Canada Bay’s vision for the Parramatta Road Corridor, and by delivering new parks, pedestrian links and plazas, we will create lasting value not just for residents, but for the entire Five Dock community,” he said.
The Parramatta Road Corridor is set to play a vital role in Sydney’s future, serving as a central artery that links the city’s two major CBDs — Sydney in the east and Parramatta in the west.
TURNER Director James McCarthy said Kings Bay Village is a rare opportunity to honour Five Dock’s industrial past while shaping a vibrant, connected future.
“Our design embraces the area’s heritage through brick facades and crafted architectural details, while delivering a highly liveable, pedestrian-focused precinct with diverse housing, generous open space, and sweeping views across Kings Bay and the city skyline. It’s a project grounded in place, guided by purpose, and driven by a vision for inclusive, sustainable community growth,” he said.
As one of Sydney’s most active developers, Deicorp’s pipeline continues to grow, with approximately $3B worth of projects set to launch to market across the remainder of the year. To date, Deicorp has designed, developed and delivered over 12,000 apartments across 40 Sydney suburbs.
For more information on Deicorp, please visit https://www.deicorp.com.au/.
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