PRESS RELEASE
AYMCI FULL STEAM AHEAD WITH ALL DEVELOPMENT PROJECTS
3 Oct 2022
FOR IMMEDIATE RELEASE
MONDAY OCTOBER 3, 2022
International backed well renowned Chinese developer AYMCI stands by owners to fix defects arising in their $5 billion Ovation Quarter development.
“In our first stage of apartments built it was our understanding that we had appointed a team to deliver a high-quality development with a retail mix that Kann Finch architects had designed,” said AYMCI Director Jason Tan
“We did not envisage the defects discovered in a few apartments would draw some attention and cause controversy,” said Mr Tan
“We have worked closely with the NSW Building Commissioner David Chandler and his team and continue to work with the Owners Corporation and their Strata Manager to proceed with the Undertaking. We will do what it takes to ensure the current list of defects on the building are followed through and completed,” he said
Over the last several months AYMCI has attended numerous meetings where an open forum of question-and-answer discussions has taken place about the current defects being completed. The aim is to put the owner’s minds to rest that the works carried out with the new building team are of a high standard so that they can move forward and enjoy living in their new apartments.
A General Meeting of the Owner’s Corporation is to take place Wednesday, October 5, 2022, to ensure no further legal action is required because of AYMCI’s transparency and willingness to follow through with its obligations relating to the Undertaking.
This new initiative from the NSW Government allowed AYMCI to enter an Undertaking with the commitment to fix the defects in the building. The benefits to the Owner’s Corporation are that it saves money and time delays spent on litigation which ultimately has low prospects of success anyway.
“AYMCI core values are transparency and trust therefore in good faith we continue to stand by the building works. We are not going anywhere. We have a lot of work ahead to continue to build a mini city with more than 3500 apartments in Sydney Olympic Park for the future.”
“Bringing together a diverse culture of people where they will enjoy an infrastructure that will house parklands, schools and our retail and residential developments is what drives us.”
“This is why we are powering full steam ahead with our next project in ‘Western Sydney’s Green Beating Heart,’ undergoing a design competition for our next stage consisting of more than 260 dwellings. We want to select an architect that best meets the vision of the master plan, and our buildings will capture and tell a story of the land,” said Mr Tan
Australia YMCI is a subsidiary of Yunnan Health & Cultural Tourism Holding Group Co LTD (HCT) formerly known as Yunnan Metropolitan Construction Investment Group with 15 years of development history. Its business covers cultural tourism, wellness, urban development, and environmental protection including industrial investment and finance.
Backed by its Chinese counterpart Australia YMCI brings a wealth of experience as a developer that stands to deliver a wide range of major urban and environmental projects, with a focus on sustainable construction and a commitment to helping people live healthy and happy lives. When you buy into an Australia YMCI development, they will stand by you.
The next AYMCI release of Sapphire is coming soon in the Sydney Olympic Park precinct.
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