Finbar Group Limited Information

Finbar Group Limited is an Australian property development Company listed on the Australian Stock Exchange trading under the security code ‘FRI’. Incorporated in 1984, Finbar first listed as a property development Company in 1995 and has established itself as the market leader in built form apartment development in the Perth metropolitan area. Finbar’s core business lies in the development of medium to high density residential apartments and commercial property within the state of Western Australia where it carries out its development projects in its own right or through incorporated special purpose entities and joint venture companies of which the Company either directly or indirectly holds interests in project profitability ranging between 50% and 100%. Finbar’s business model involves the acquisition of suitable development land either directly or by way of incorporated joint ventures whereby equity partners are sought to allow the Company to leverage into larger redevelopment projects to take advantage of the benefits of economies of scale, and to help spread project risk. Joint venture opportunities are also brought to the Company through land owners who require partners with project delivery expertise. Joint ventures of this nature enable the Company to leverage our development expertise and help limit the level of capital contribution required by the Company to achieve higher returns on equity. Finbar outsources its development activities to external consultants, sales persons, and building contractors. The administration of the Company along with the operating, investment, and acquisitions decisions are made by the Company board and management. The Company employs just twenty-eight staff members in its East Perth offices.