A Dubbo-owned company has plans to spend more than $150 million on new housing projects in the city in the next 20 years.
Maas Group Properties recently purchased four land subdivisions in the city’s south-eastern section, taking its holdings to between 1700 and 2000 lots.
It has already sold 39 of the remaining 228 lots in Southlakes Estate, one of its subdivision acquisitions, since July, it reports.
Maas Group Properties owner and managing director Wes Maas told the Daily Liberal of their big vision.
“We have set ourselves up to be the leading developers in Dubbo for the next 30 to 40 years,” he said.
“We believe Dubbo to have a very exciting future.
“Dubbo is a great city with many future prospects to look forward to and Maas Group have the machinery, manpower and management to deliver land to
the market in a timely and well-priced manner as the market requires it.”
The company has bought the balance of Southlakes, and the Keswick on the Park and Magnolia estates, all three approved for residential development.
It is also the new owner of a property adjoining Southlakes, and Mr Maas said they planned to submit a development application (DA) and have approval for a residential subdivision there within the next 12 months.
“We have between 1700 and 2000 lots,” Mr Maas said.
“In Dubbo there’s between 6000 and 8000 lots for the next 30 to 40 years and we own about a third of them.
"We want to meet everyone's needs and cover the whole market, so anyone who wants anything can come to us."
Keswick on the Park - a small parcel of privately-owned land within the Dubbo City Council-owned Keswick Estate, Magnolia Estate and Southlakes would have different aspects to appeal to different buyers.
"From the first homebuyers market to mid-tier level housing and to the top-end prestige housing," Mr Maas said.
"And medium-density developments that will appeal to older people who like to feel secure and not have as much yard to look after."
For more than a decade the company has been active in another industry.
"With the downturn in the mining industry we sold off some of our equipment and put funds into these developments as long-term investments," Mr Maas said.
The earthmoving business would continue while the group's resources in civil works and construction would also progress releases to meet the market's needs.
"We manage everything in house," Mr Maas said.
The company chief said the council had been "very supportive".
"The planners are very practical and they are making a concerted effort to help developers to give the people what they want," Mr Maas said.
"We look forward to working with them in the years to come for the benefit of the city."
Source – Daily Liberal- Faye WheelerSept. 22, 2014.