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Finbar Group Limited (ASX:FRI)

ALERT: Price-sensitive ASX Announcement for FRI
Current share price for FRI : $0.790 0.105 (15.33%)+
Announcement
Release
20 Aug 2026 7:57AM
Price at Release
$0.685
Full Release
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Summary
Finbar Group Limited, a leading apartment development company in Western Australia, announced the acquisition of a significant development site at 172-176 Great Eastern Highway, Ascot for $7.5 million. The acquisition is pending approval from the Foreign Investment Review Board, with settlement expected by late November 2026. The site, located within the Golden Gateway Local Structure Plan area, is ideal for large-scale mixed-use and residential development. The project, with an estimated end value of $150 million, is planned to launch in 2027 and is expected to complete by FY2029 or FY2030. This development will enhance Finbar's project pipeline to over $1.95 billion. Finbar's strategic focus remains on delivering affordable, quality apartments in well-connected locations. The announcement underscores Finbar's capability to leverage its financial strength for strategic acquisitions that meet market demands.
Key Points
  • $7.5 million conditional purchase of Ascot development site
  • Estimated project end value of $150 million
  • Market launch targeted for CY2027
  • Completion anticipated in FY2029 or FY2030
  • Project supports high-density, mixed-use residential development
  • Increases Finbar’s development pipeline to over $1.95 billion
  • Site located in a well-connected area near significant amenities
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.