KUALA LUMPUR: TA Global Bhd is partnering with Sydney-based property funds management and development company Charter Hall Group to develop Little Bay, a A$600 million (RM1.84 billion) residential project in Sydney, New South Wales in Australia.

In a filing to Bursa Malaysia on Tuesday, Oct 19, the group said its subsidiaries TA Global Development Pty Ltd (TAGDPL) and TA Antarabangsa Development Ltd (TAADL) had entered into a 50-50 development sponsorship arrangement with Charter Hall Grop to work on the project.

Little Bay is expected to comprise 570 units in the form of houses, townhouses and apartments on a 68,500 sq m gross floor area.

"The 13.6 ha site is located at the southern end of Sydney’s eastern suburbs peninsula, 14 km from Sydney’s central business district, and features extensive coastal views over Little Bay, Botany Bay and the adjoining Coast Golf Course," said TA Global.

The project is expected to begin late this year and be completed in late 2014.

According to the group, the venture will complement its corporate strategy to expand its property development management activities into Australia, enhancing its activities in the country.

"In addition, the alliance is expected to increase the revenue stream and return of TA Global group," it said.

Earlier, trading of the group's securities were suspended from 9.24am to 10.24am following the announcement.

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