Projects in limbo as Ralan group appoints adminstrators

Billions of dollars of apartment developments on the East Coast are in doubt after Sydney developer Ralan Group entered administration. The groups signature project – the $1.4Bn Ruby Collection on the Gold Coast is only partially delivered. With over 3000 residential units in various stages of approval/development, it is another blow to the residential sector as depressed prices and tight lending standards continue to weigh on financial settlements.

The Group also owns and operates Paradise Resort in Surfers Paradise where staff have been advised that it is ‘business as usual’ until notified otherwise by administrator Grant Thornton.

Read more at the AFR here.