Monday 18 September 2006

Senior appointment bolsters development and acquisition capabilities.

Listed property development company Devine has further strengthened its senior management team in Victoria with the appointment of Jonathan Flint as the State's Development Director.

He will oversee the activities of a number of project managers and be responsible for the delivery of Devine's housing estates in Melbourne. On a broader scale, Mr Flint will help identify development sites, instigate joint-ventures with land holders, negotiate with relevant Government authorities, and continue to enhance Devine's position as one of Victoria's most active developers.

Mr Flint joins Devine from Multiplex Developments, and prior to that AV Jennings, where he held senior responsibilities in site acquisition and major projects in both Victoria and South Australia.

Devine, which has grown its development portfolio pipeline nationally to more than $2-billion in completed value, has four estates underway in Melbourne - 'Parkside' at Moorookyle, 'Golf Links Estate' at Berwick, 'Cardinia Grove' at Pakenham, and 'Central Park' at Brimbank.

"Currently Devine has some 1,000 lots under development in Melbourne, and the company is eager to expand its land holdings," said Mr Flint, a qualified Civil Engineer and member of the UDIA who has a decade of management experience including positions with local government and private consulting firms.

"Devine's focus is on creating integrated housing communities that provide a total lifestyle solution for first and second home buyers, close to desirable amenities and transport."

Devine's National General Manager, Paul Nash, describes Mr Flint as "an experienced development professional who adds further depth to the company's management structure."

Said Mr Nash: "He has the technical qualifications and hands-on experience to manage our expanding diversity of residential estate developments in Victoria.

"Jon will provide input on future business development, 'big picture' initiatives and in delivering quality lifestyle estates that people want to call home."

Mr Nash said Devine was confident about the short and long-term strength of Melbourne's property market.

"Unlike some other capital cities, there has been prudent State Government planning for residential land releases, which is continuing to meet market demand. In fact, Melbourne is the largest land market in Australia, with consistent supply assisting in keeping affordability and price volatility in check. As a result of Melbourne's relative affordability, demand for housing has remained generally constant," Mr Nash said.

Devine's Melbourne estates have land available from $90,000 and home and land packages from $219,000.

Further details on Devine Limited Victoria are available on the company's comprehensive web site: www.devine.com.au

Released by: Devine Victoria, 85 Coventry St, South Melbourne, Victoria 3205
Contacts: Sean Lefoe, Ph: (03) 8699 3100, (0438) 739 611
Paul Nash, National GM Housing & Land, on (0439) 730 424
Jonathan Flint, Development Director, on (0423) 781 465

Prepared by: Barry Hyland of PR Plus, Level 1, 272 Pacific Hwy, Crows Nest 2065 on
Ph: (02) 9439 9191, Fax: (02) 9439 9190. pluspr@ozemail.com.au