Multiplex to build $2 billion STH BNK By Beulah towers

Beulah has appointed Multiplex to construction their $2 billion mixed-use Southbank project, STH BNK By Beulah.

STH BNK By Beulah will be the tallest skyscraper in the southern hemisphere when it's completed in 2029. Beulah are forecasting a five-year build, with early works to commence in late 2023 or early 2024.

The announcement follows an extensive review of globally competent and respected construction companies around the world with Multiplex chosen due to their strong history spanning over 60 years, having completed over 1,100 projects valued at over US$100 billion. Notable projects within its portfolio include the Southern Hemisphere’s highest residential tower Australia 108, also in Southbank, Collins Arch, Jewel on the Gold Coast, 80 Collins Street, Federation Square, and Principal Tower, one of Europe’s tallest residential towers.

The acclaimed builder is also responsible for international stadiums and landmarks including England’s renowned Wembley Stadium and Stamford Bridge, Elephant and Castle Town Centre, University of Glasgow, Dubai’s The Address Beach Resort, Abu Dhabi’s Eastern Mangroves and many more.

Soaring 365-metres high, Multiplex will be responsible for bringing the hyper-mixed-use STH BNK by Beulah to life; Australia’s first 5-minute vertical city which includes two twisting towers and a world-class retail precinct home to an impressive selection of shops, a comprehensive wellness precinct, a childcare centre, a Four Seasons Hotel, an innovative cultural centre in partnership with Centre Pompidou, commercial office space, a diverse residential offering, numerous pocket parks as well as the world’s tallest vertical garden.

Beulah Managing Director Jiaheng Chan said Multiplex was chosen due to its wealth of global experience in building tall towers that push the envelope in terms of design and construction while ensuring sustainability remains central to its core operations.

“Multiplex is responsible for delivering some of Australia’s most significant and iconic projects, many of which push the boundaries in terms of engineering and design," Chan said.

"Following an extensive review period, we believe them to be the most experienced to be our builder partner for such an iconic project and look forward to a long-term partnership that will see STH BNK by Beulah come to life.

“Over 50 per cent of Multiplex’s Melbourne portfolio is built for repeat clients, with this signalling the second time we have worked with them, following the successful delivery of our award-winning Paragon project in 2021.

"Additionally, STH BNK By Beulah has a strong emphasis on sustainability and biophilia and Multiplex’s commitment to reducing its carbon footprint was also taken into consideration; Multiplex is committed to net zero carbon buildings and sites by 2030 and a net zero carbon value chain by 2050.”

STH BNK By Beulah has already seen a string of high-profile sales of its 691 apartments, with a number of sales ranging between $30 million and $38 million.