Capital Bluestone to partner up with Aoyuan International

New South Wales-based property developer Capital Bluestone is set to align itself with global development firm Aoyuan International.

Headed by Steve Grant and Ben Fairfax, Capital Bluestone has been operating for more than 28 years.

Capital Bluestone have completed six projects across five sites including the award-winning Woolooware Bay Town Centre.

The move will see them continue as a division of Aoyuan International, working together across a portfolio of 16 projects in metropolitan Sydney and regional NSW markets.

Aoyuan International has built 10 projects including apartment and land sub-division sites in Sydney’s CBD, East, Inner West, North Shore and Southern Highlands since arriving in Australia

It most recently delivered the $380 million, 138-apartment luxury development One30 Hyde Park (pictured above) overlooking Hyde Park at the corner of Elizabeth and Liverpool Streets in the Sydney CBD.

Aoyuan International also has interests in Canada and Hong Kong.

Capital Bluestone Executive Chairman Steve Grant said: "the beauty of this arrangement is that in a challenging time with the banking sector and accessing finance, Aoyuan International’s capital markets expertise and strength puts us in the box seat to become a highly competitive, major force in the Australian property industry for a long time to come."

“We have a high regard for Capital Bluestone’s capability and reputation in the market and feel they’re a very good fit for our current portfolio and team,” he added.

Capital Bluestone Managing Director Ben Fairfax said cultural fit and focus had been a key consideration for both businesses.