Brisbane’s escalating demand for luxury apartments has driven Kokoda Property to expand its ‘Ruby Ruby’ project in Milton. Initially planned for 22 storeys, the development will reach 26 levels, adding 34 apartments to the existing 144.
This decision comes as Brisbane’s median unit value has recently surpassed Melbourne’s, marking the first instance since 2008.
Mark Stevens, founder and managing director of Kokoda Property, stated that Milton is emerging as a prestigious Brisbane address, with ‘Ruby Ruby’ setting a new standard for elevated living in the area. He emphasised the project’s commitment to providing sophisticated residences with a unique, subtropical-inspired design.
Despite its central location, ‘Ruby Ruby’ aims to offer a beachside resort ambience with amenities such as a rooftop infinity pool, floating daybeds, cabanas, and a comprehensive health and wellness centre.
Additionally, the development will cater to a corporate clientele with private dining and bar spaces, a cinema, a billiards room, and meeting rooms.
Kokoda Property is also the developer behind ‘The Ambrose,’ a Ritz-Carlton-inspired residential building in Milton, and has recently received approval for its ‘Tides of Teneriffe’ project, a five-tower development comprising apartments, hotel rooms, and parking spaces.
Due to the upcoming 2032 Olympic Games, which will spur infrastructure development and population growth, Brisbane’s unit values have increased by over 18 percent in the previous year.
Published Date 31-July-2024
