Developers to Watch: Projects and Players Shaping 2026
Developers weathered a volatile 2025 marked by ongoing high construction costs and market uncertainty, maintaining momentum despite challenging conditions.
As the market begins to stabilise, many expect that resilience to carry into the year ahead as attention turns to the next wave of major projects.
As some developers pivot toward higher-density formats, others are expanding into new markets. Regardless, most see 2026 as a year of renewed opportunity.
The Urban Developer has compiled a non-exhaustive list of developers active across major projects and sectors, and examined their outlook for the Australian development industry in 2026.
Riverlee
The completion of 1 Hotel and its 114-apartment Seafarers, major hotel and residential mixed-use projects in Melbourne’s North Bank, were “momentous” for developer Riverlee in 2025.
One of the developer’s biggest focuses for 2026 is its 51ha, $2-billion New Epping project, a major urban renewal development in north Melbourne. The development includes the new Northern Private Hospital, a hotel, apartments and retail and commercial end uses.
Riverlee is due to start work on its office project at New Epping, 28 Greengate, in early 2026. It is slated to deliver 90 office suites aimed at small and medium businesses.
The developer is also turning its attention to counter-cyclical markets, according to Riverlee development director David Lee.
Now approved for its office scheme at its Hobart Hanging Gardens development, Riverlee will also in 2026 begin work on the 10,000sq m of net lettable area.
“And Adelaide is really having its time in the sun, so we’ve activated a few of our sites down there which were assets under management, and they are shaping up to be quite strategic development opportunities for us now,” Lee said
As a diversified group, Riverlee is across nearly all sectors.
“There is still opportunity everywhere in the market,” Lee said.
“But there are still pitfalls everywhere. It’s really easy to get something wrong and the margins for risk are getting thinner and thinner. So we need to be very cautious about making moves in any sector.”
Despite this, the “cloud of uncertainty” has passed, he said.
“We’re nearing a point of equilibrium, albeit prices are still higher. We’ve had too many surprises along the way, but have gotten much better at forecasting the inevitable surprise.”
Abadeen
Sydney-based Abadeen has had a stellar year, completing its Brighton Le Sands project where 90 per cent of homes sold and residents are due to move in from January.
It is also advancing major construction milestones at Putney Wharf and Henri House at Darlinghurst, as well as a roster of completions expected from the Gold Coast to Victoria.
Abadeen executive chairman and founder Justin Brown said the developer expected 10 new developments to come to market across Sydney and Melbourne in 2026.
Looking ahead, demand for high-quality, well-located, boutique owner-occupier products would remain resilient, he said.
“Downsizer and rightsizer segments will remain a key driver of activity, with purchasers prioritising generously scaled residences, thoughtful design and certainty of delivery.”
Prices across the eastern seaboard would steadily rise, he said, especially in tightly held locations on the waterfront and in village adjacent-suburbs.
But construction pricing would continue to define the feasibility of many projects, Brown said.
“[This will lead to] a resurgence of well-located infill developments and lower-density schemes, as higher-density options become increasingly difficult to deliver in the current cost environment.”
Otello
South Australian developer Otello had a strong year in 2025, securing approval for its co-developed 10-storey Adelaide CBD apartment project with Fortis in December.
Otello managing director Daniel Harris said that 2026 marks a “pivotal chapter” for Otello, with multiple landmark projects reaching completion and several new precinct-shaping developments breaking ground.
The company’s active pipeline now exceeds 500 apartments, representing an end value of more than $700 million, he said.
In the first half of 2026, the final stage of Otello’s Treno in Mile End, making a major milestone for the developer as its first building of this scale and typology mix.
Other major projects for Otello next year include Muse in Bowden, a nine-storey mixed-use of 35 apartments, the three-storey Tonsley Precinct mixed-use development, and a development of specialist disability accommodation apartments on Marion Road in Sturt.
Its Kent Town project will be the home of Otello HQ and deliver a wellness club.
Otello will also be breaking ground on 15 luxury apartments in Unley, 100 apartments in Bowden, a project which uses mass timber construction, with a multi-level wellness hub.
“Adelaide is entering a pivotal phase in its evolution, with growing demand for design-led, mixed-use living that reflects the way people increasingly want to live, work, and connect,” Harris said.
“We expect 2026 to be the year that this shift becomes mainstream.”
SIERA Property Group
Brisbane-based SIERA Property Group completed Pipis by SIERA earlier this year, and it is moving onto even bigger things with a focus on maintaining momentum, delivering major projects already underway, and progressing the next wave of opportunities across the Central Gold Coast and Brisbane, founder Brent Thompson said.
Two major projects for next year include the 113-apartment, 22-storey Tapestry development on Chevron Island, marking SIERA’s move into higher-density development.
Tapestry is expected to complete around mid-2026.
Elsewhere, work on the 54-apartment, 25-storey Exhale on Garfield Terrace in Northcliffe, which was originally approved in 2022, is set to begin.
Demolition is planned for March, construction is targeted for April 2026, and it will go to market in early 2026.
“SIERA is continuing to build momentum in the same Central Gold Coast pocket, strengthening a pipeline that reflects our long term commitment to the area,” said Thompson.
“In Brisbane, we remain selective and timing led.”
And Thompson predicts that 2026 will be mercifully steady, with no major boom or bust.
Where the picture becomes clearer is in supply, he said, with major demand ongoing for housing in Queensland.
“It explains why the shortage feels so persistent on the ground, approvals do not reliably turn into construction, only about one in eight approved projects has started in recent years, and it often takes around five approvals in the system to get one project to actually move to site.
“On the Gold Coast, delivery is only a little over 2000 attached dwellings a year, and the same sources indicate the region needs roughly double that pace to line up with the targets, otherwise the shortfall keeps widening over time.
“So our job is to stay disciplined through the headwinds, design efficiently, manage costs in real time, and keep delivery moving.”
Baltinas
WA development group Baltinas is developing a super-luxury Cottesloe apartment project after appointing builder West to West Group in late 2025.
Baltinas founder Barry Baltinas said it had seen “exceptional momentum” for the project.
“At the same time, and after a lengthy and complex approval process, we’re pleased that demand for Côte Residences and Meridian Cottesloe continue to grow.”
The project is a “once-in-a-generation opportunity” at one of Perth’s most exclusive beachfront locations, with $60 million under contract despite not being officially launched to market.
The super-luxury buildings are expected to reach completion in the third quarter of 2027.
Frank Developments
Frank Licastro and Frank Developments have had a major year this year, with upscales of its Kingsford Smith Drive tower and a move into marinas in Brisbane’s east in progress.
Looking ahead to 2026, the focus is on delivery and building momentum from 2025, Licastro said.
Frank Developments is completing its Mira residences in Northcliffe, a 27-storey tower with 12 residences, and 26-unit Ducale in Teneriffe. Both are both expected to complete in the third quarter of the year.
Frank Developments is starting construction on its 72-unit Alba development in Hamilton, 45 units at its Murano project in Teneriffe, and 22-unit Bel Air in New Farm.
It will also commence Maya in Northcliffe, its biggest project yet at 28 storeys with 55 apartments.
“From a market perspective, we’re seeing a clear shift in how buyers approach multi-residential living,” Licastro said.
“Convenience and quality of life are driving demand; wellness-led design, secure and seamless building access, on-site work-from-home solutions, smart building technology, concierge-level management and strong connectivity to lifestyle precincts are no longer optional, they’re expected.
“We continue to see consistent demand across two, three and four-bedroom residences, alongside a growing emphasis on trust.”
Millbray
Site acquisitions and a deep dive into land lease are on the cards for Millbray in 2026, after it announced its launch into land lease communities this year.
It started its pre-launch campaign in October for Ashcroft, a marker of the developer’s “continued evolution” and long-term focus on lifestyle-led communities.
A strong early response to the project was a yardstick for a broader market shift, Millbray said, with younger buyers increasingly considering over-50s living.
Millbray said it remained “focused on strategic site acquisitions” to support a growing pipeline of future communities, Millbray general manager for development Matt Fedrick said.
“The level of pre-launch interest in Ashcroft confirms there is strong demand for a more contemporary, lifestyle-led approach to over-50s living, which has been central to how we’ve shaped the Millbray brand.”
Cedar Woods
Listed developer Cedar Woods has had a strong year in 2025, filing plans for a double-tower, 232-unit project at Brisbane, launching a $150-million Subiaco 236-unit development and paying $50 million for a site in north Melbourne.
Cedar Woods chief operating officer Patrick Archer said that the group is building on what it learned this year with a strong take-up at its Mason Quarter community in Wollert.
It is also expanding into Geelong with the recently announced Somerley masterplanned community in Corio.
“We were inspired by the region’s lifestyle benefits, its economic confidence, and the potential we see in Geelong’s north,” Archer said.
Cedar Woods is also launching its first inner-city project, a 20-storey tower in Melbourne’s Southbank arts precinct.
“[This] highlights a broader market trend: a real undersupply of quality, well-designed apartments close to jobs, transport and amenity," Archer said.
“Demand is outpacing supply, and buyers are increasingly selective about location and liveability.
“In 2026, our focus is on delivering communities in growth areas like Geelong and inner-city projects that genuinely meet the needs of occupiers.”
Time & Place
Time & Place has made waves across Sydney and Melbourne this year—chief executive officer Nick Paciocco said continued residential growth across Sydney was expected.
He said it would particularly be the case “in premium locations with strong lifestyle fundamentals and pent-up buyer demand, including our high-end residential launches in Potts Point and Manly”.
“Across Victoria, we are looking forward to launching residences at Glen Iris as a broader recovery narrative, residual unsold stock across the entire market decreases and a renewed sense of buyer confidence underpin off-the-plan activity across Melbourne.”
Paciocco said that landmark changes to planning controls in Melbourne and Sydney were a big step in the right direction.
“This should boost activity across the board, particularly as more capital becomes available, access to private credit improves and activity continues to rise across sought-after areas like Potts Point and Manly in Sydney, and Glen Iris in Melbourne,” he said.
“While it will be a challenging year for the property groups holding legacy projects, where costs and delivery timeframes are continuing to rise, we do expect to see growth across specialised real estate sectors—like self-storage and data centres – as more capital becomes available.”
Mayd Group
In 2025, Gold Coast-based Mayd Group broke ground on its 17-storey Burleigh Heads beachfront project.
This year, its focus will widen for another Kirra mixed-use development, which Mayd Group founder Todd Mould said would be its biggest project to date.
“It’s a mixed-use development and a style we haven’t undertaken before, but have absolute confidence in the team we are working with behind the scenes to deliver an exceptional development,” he said.
These projects mark Mayd’s growth, he said.
“These projects reflect our evolution as a team and local developer, pushing ourselves to more complex, high-quality coastal developments while still having a strong focus on design, delivery and long-term value.” Mould said.
Three more sites will be progressed and Mayd is recruiting to the team as the Gold Coast market for luxury and multi-residential projects looks likely to remain resilient.
“Scarcity of premium, completed stock combined with ongoing population growth and interstate migration is supporting pricing and keeping buyers engaged,” Mould said.
“At the same time, rising construction costs, tighter financing and delivery challenges mean that new supply is constrained, which reinforces the value of developments that can be delivered on time, on budget and to a high standard.
“In this environment, the builder–developer model is increasingly valuable, offering greater certainty around cost control and delivery at a time when construction pricing and feasibility remain challenging.”
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