Dexus welcomes the Victorian Government’s decisions to rezone Dexus’s Riding Boundary Road sites and begin planning for an adjacent employment and industrial precinct at Ravenhall. Together, these decisions provide greater certainty for future investment, supporting the creation of jobs and helping meet the needs of one of Australia’s fastest-growing regions.

Rezoning of Riding Boundary Road

The rezoning of Riding Boundary Road creates momentum for the broader Ravenhall precinct opportunity. Dexus and its opportunistic fund Dexus Real Estate Partnership 1 (DREP1) secured rights to the Riding Boundary Road sites across 2022 and 2023, which are diagonally adjacent to Dexus’s Horizon 3023 estate.

Chris Mackenzie, Dexus’s Executive General Manager, Industrial, said: “We have a strong track record in delivering industrial development in Melbourne’s west, including the nearby Horizon 3023 estate, which has attracted leading Australian and global businesses including Amazon, Nike and Tesla.

“We look forward to continuing to work collaboratively with governments, local stakeholders and the community as planning for Riding Boundary Road progresses.”

Amendment C255melt to the Melton Planning Scheme rezones 100, 106 and 220 Riding Boundary Road from Farming Zone to Industrial 1 Zone and applies a Development Plan Overlay to allow for industrial and commercial development.

The amendment will come into effect when notice of its approval is published in the Victoria Government Gazette. Any future development is subject to relevant planning and other approvals.

Dexus and Boral Joint Venture

Under a proponent-led approach, Dexus, in a joint venture with Boral, will conduct technical planning work for the Ravenhall precinct in collaboration with the Department of Transport and Planning.

Dexus and Boral announced a joint venture in May 2026 to transform approximately 630 hectares of land at Ravenhall into a major industrial and logistics precinct. At full development, the broader Ravenhall opportunity is estimated to support more than 31,000 jobs in Melbourne’s west and contribute nearly $15 billion annually to Victoria’s economy. The development remains subject to rezoning and business plan approvals.

Dexus CEO Ross Du Vernet said: “We welcome today’s announcement by the Victorian Government and are pleased to have helped shape this proponent-led approach to planning, which will deliver jobs closer to where people live.

“With Boral, we see the potential to create one of Australia’s largest industrial and logistics precincts, supporting local employment, attracting investment and delivering new infrastructure for Melbourne’s west.

“Continuing to create the conditions for private capital to invest with confidence will be critical to Victoria’s growth.”