Aqualand Group and Qualitas execute $600M funding arrangement – one of Australia’s largest non-bank loans

19 October 2022

Leading Australian integrated property development group, Aqualand Group, and Qualitas, one of Australia’s leading alternative real estate investment managers, have announced a circa $600M funding package, which is believed to be one of the largest property development project finance arrangements provided by an alternative financier in Australia.

Aqualand Group will use the finance to complete the construction of their mixed-use AURA by Aqualand luxury residential, retail and commercial development project in North Sydney.

Wayne Mo, CEO AL Capital Holding, Aqualand Group’s fund management arm, and Acting CFO Aqualand, said the partnership with Qualitas has come at an important time in the company’s progression.

“Aqualand is currently in the midst of its strongest growth period and is well placed to be at the forefront of property development in Australia for decades to come. Strategic partnerships of this nature will assist us in making this possible,” said Mr Mo.

Mark Fischer, Global Head of Real Estate and Co-Founder, Qualitas Group, said AURA by Aqualand is a model for future residential development.

“Landmark projects such as AURA by Aqualand, that contribute to urban regeneration and which are developed with a commitment to sustainability, are imperative in the major Australian gateway cities experiencing historically low vacancy rates and heavily constrained supply of new residential product,” said Mr Fischer.

Located at 168 Walker Street in North Sydney, AURA by Aqualand will accommodate a luxury 28-level mixed-used development including 386 residential apartments, a retail and dining precinct and commercial spaces.

Being delivered by Aqualand Group’s award-winning in-house construction team, Aqualand Construction, the project is well underway, with the underground carpark and podium level floor plates already complete and the residential levels now reaching past the fifth floor. Practical completion is expected by mid-2024.

The project has been popular with buyers with a strong level of early pre-sales, with the third release of apartments recently announced for sale.

The 4,898sqm site is perfectly positioned to contribute to the reactivation of the North Sydney CBD as a premier residential destination, due to its location on the doorstep of the council’s Ward Street Precinct masterplan.

Jin Lin, Managing Director, Aqualand Group, said the project is set to play a major role in the revitalisation of the North Sydney CBD.

“As more government and commercial investment unfolds over the coming years, with 19 key projects in the area and the addition of more new parks and plazas, it represents a new era for North Sydney, and we’re fortunate that AURA by Aqualand is perfectly positioned to play such a key role,” said Mr Lin.

Residents will benefit from excellent connectivity to the Sydney CBD with the completion of the new underground Victoria Cross Sydney Metro Station commencing operations in 2024, with a new Northern Portal providing access to the station currently being constructed immediately adjacent to the site. Train services will have residents arrive in Barangaroo within three minutes.

To find out more about AURA by Aqualand, please contact CBRE Residential Projects on 1800 207 778, go to or visit the display showroom at Level 5, 41 Maclaren Street, North Sydney, daily between 10am and 4pm.