ID_Corp is a new player to lucrative land lease sector with Next Living
As reported in The Weekly Source, Mar 20 2023 Updated June 19, 2023 Section Editor
ID_Corp, a diversified property group, has entered the land lease sector, aiming to house 1,000 people in its first five years under its Next Living brand.
With GemLife contributing more than S$15 million to its joint partner Thakral in the financial year ended 31 December 2022, Ingenia Communities building homes at 16 land lease communities this year, Stockland stating it would construct up to 3,000 homes under the Thrive brand and Lifestyle Communities promising it will have 11 communities in various stages of delivery by the end of June, the demand for land lease is clear to see.
As DCM Group CEO Chris Baynes asked in February last year: why aren’t Not For Profits engaging with this sector?
“We’re proud to be launching Next Living and supporting further expansion for the ID_Corp group of companies, while reaching a new audience demographic in the process,” ID_Corp joint managing director Matthew Belford (pictured with joint Managing Director and co-founder Jeff Garvey) told Urban Developer.
“The addition of Next Living to our portfolio will complement our existing development, homebuilding and investment divisions, utilising sites within our current pipeline to the deliver our first Next Living land lease communities.”
Matthew said it had identified more than 1,000 homes for lock-and-leave style living to be built within the next five years at sites in Gisborne, 54km northwest of Melbourne, and Clyde, Melbourne, in VIC and Walloon, Ipswich, in QLD.
