Celebrating the successes of FY22 at Oreana Group
As we wrapped up another strong financial year for Oreana Group, we’re taking a look at what has made the 2021-2022 a year of significant achievements for our team across all divisions. Despite FY22 presenting its fair share of challenges, Oreana Group accomplished accelerated growth, successfully executed development plans and increased innovation across all facets.
FY22 saw major milestones reached in our property division including development approval on our first interstate commercial development where we’ll be delivering a new community retail precinct and 91-place childcare centre in Perth’s fast-growing northern corridor.
Across our Commercial division we achieved record figures with an estimated end value of $108 million worth of projects currently under construction, in addition to the $53 million in commercial developments we delivered in FY22. We are proud to be creating hundreds of employment opportunities through these ongoing works.
Oreana Property also delivered $24 million in childcare developments in Victoria, creating 404 childcare places in local communities, with another $32 million worth of childcare developments under construction across Victoria and Western Australia.
Across our residential division we saw solid lot sales in our subdivisions, with 108 sold in FY22 and a strong pipeline with more than 2,000 lots to be delivered over the coming years.
This ties in with the current Victorian land market, which saw 5,285 sales in the final quarter, well above the historical average of 4,500.
Our Residential homes division reached significant goals in FY22 with 554 new home contracts signed, handovers for 362 happy homeowners, and construction started for a further 441 homes and townhouses.
The Oreana Homes team pushed ahead with stage one of the Sayers Road community in Victoria, completing the selection of 74 premium townhomes by April.
Over in Deanside Central, we were very excited to hand over the first sets of keys to excited new homeowners at our Sinclairs Road house and land development.
Oreana Financial has kept a busy pace during FY22 across the Portfolio Advisory, Asset Management, Advice Partnerships and Private Wealth divisions.
The big news for Oreana Financial was acquiring Ascalon Capital in both Australia and Hong Kong, which sets the stage for a successful relaunch this year and expansion into asset management, product manufacturing and distribution across the Asia Pacific region.
Oreana Portfolio Advisory has maintained its market-leading performance against all competitors for its third year in operation and doubling its corporate client roster from 11 to 21. It’s increasing month-on-month revenue by 110 per cent and growing funds under management by $45 million, to $170 million.
Other achievements include Oreana Asset Management launching its Select Income Fund and raising $20 million in funds under management; Oreana Advice Partnerships increasing its partner practices from four to 36 across every state and territory, Hong Kong and Singapore; and Oreana Private Wealth completing a joint venture with Grant Thornton Private Wealth.
It’s been a busy year across the board and we look forward to continued success and growth in this financial year and long into the future with our dedicated staff and partners.