Company Overview
Devine Limited is a major force in Australia’s residential property market offering affordable housing products in Queensland, Victoria and South Australia. The company has also established a significant presence as a developer of high-rise residential projects, office developments and serviced apartment hotels.
The company was listed on the Austraian Stock Exchange in 1993, by founding director, David Devine. At that time Devine’s operations were based solely around southeast Queensland. Its only product was detached housing constructed in the main on land that the company had developed.
Devine Limited’s core competencies include concept design, product design, marketing and project management. In home building, the Company is the registered builder and sub-contracts all construction work.
In 1996 Devine established a Property Development Division in Queensland and developed the successful 514-unit Cathedral Place project. Following the success of this inaugural project, this Division has completed a total of 2,745 residential units and currently has a pipeline of future work that when completed will have an end value of approximatlely $2.5 billion.
In May 1997, Devine acquired the contract housing business of Pioneer Homes, giving the company a presence in New South Wales, Victoria and South Australia. The company has since temporarily withdrawn from the New South Wales market but has become active in the Townsville market in North Queensland.
In recent years, the company has increased its land development activities in the three states in which it operates and, at June 2009 owned or controlled the equivalent of 7,593 lots when the land is ultimately developed.
Devine has been ranked as high as the third largest builder of detached homes in the annual HIA survey of Australia’s leading Home Builders. Since listing in 1993, the company has completed more than 17,600 house and land packages.
Today, the company can demonstrate geographic and product diversification operating in three states and now actively involved in home building, land development, medium and high-density residential developments, as well as office and hotel development.