Aussie developer drops Auckland skyscraper project


ICD Property, the Australian developer working on Auckland’s tallest tower, has decided to exit the project, listing it for sale just months after winning approval

Jasmax Architects design for 65 Federal Street

ICD managing director Matt Khoo said the developer had decided to sell its first international site to allow it to pursue other projects in Australia.

“Given the current state of the global economy, plus Australia’s property market, we felt it was best for ICD Property to focus on the delivery of our existing pipeline and deliver to our current buyers before focusing on expansion or new acquisitions,” Khoo told The Urban Developer.

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