Projects Update

The strong market appeal of our Riverview project is clearly demonstrated by the success of Phase I, which sold out, reflecting the high quality and desirability of our Caledonia homes.

Building on this success, Phase II is off to a promising start, with 40% sold out and positioned to replicate the achievements made with Phase I. With recent interest rate cuts, we are optimistic that the improved market conditions will drive even more interest from prospective buyers, further fueling the momentum for Phase II. We are confident that this positive shift will continue to enhance the attractiveness of the project.

We have already commenced external servicing and are aiming to begin internal servicing in January, with plans to complete it by April. We are optimistic about starting construction as early as Q2 2025.