A New AURA For Southbank As Melbourne Square's Newest $800 Million Tower Gets Underway

PRESS RELEASE

VICTORIA, AUSTRALIA: Prominent Malaysian developer OSK Property and its appointed construction partner Multiplex have officially commenced work on the $800 million, 67-storey AURA tower at the $3.5 billion Melbourne Square precinct in Southbank.

Due for completion in early 2030, over 140 units of the tower have been sold since its launch in Q2 2026.

When completed, AURA will contribute approximately 1800sqm of retail to the growing Melbourne Square precinct, which already includes a 4,300sqm full-line Woolworths alongside a BWS, Pacific Asian Grocer, café, restaurant and Nido childcare.

AURA represents the third stage of Melbourne Square, and follows in the footsteps of BLVD, which is currently under construction with settlements starting in October 2026 ahead of its completion in early 2028. Progress across the precinct is underpinning buyer confidence, with purchasers able to see the level of quality, craftsmanship and amenity which is available at the $3.5 billion Southbank precinct.

With prices starting from $565,000, AURA offers studio, one-, two- and three-bedroom layouts of various sizes, many of which feature multi-purpose rooms, alongside penthouses and the popular Mira Terraces, which provide generous outdoor spaces that extend living zones.

AURA will act as a gateway between Melbourne Square and the city, with views across the Royal Botanic Gardens, Port Phillip Bay and Albert Park Lake to the east, and Melbourne Square’s 3,745sqm Kennedy Park and Hoff Boulevard, to the west.

AURA has been designed as a Japanese-inspired retreat which brings together a teahouse pavilion, outdoor dining and a myriad of wellness amenities, with the project team aiming to capture the imagination of discerning buyers who appreciate Japanese-inspired design, philosophy and lifestyle.

The carefully curated amenities are designed as a vertical ecosystem, empowering purchasers to elevate their lifestyle based on their own wellness preferences; the full-floor AURA Club and Gardens on level 7 – which will be available to all residents – will feature a 25m indoor pool, adjoining sun terrace, a fully equipped gym with yoga room and Reformer Pilates area, hot and cold plunge spas, sauna and steam rooms, and dining, lounge and games room including a music room which can be used as a podcast studio.

The AURA Gardens will also include a Japanese-inspired teahouse set amidst beautifully landscaped lawn and gardens, with outdoor BBQ, dining and lounge areas with a firepit.

As one of the most-popular resident amenities at Melbourne Square to date, AURA will also feature a golf simulator, alongside another substantial co-working space to allow residents to work from home within their building, both of which are also available to all AURA residents.

The Meridian Club on levels 49 and 50 offers a more social experience, with lounge areas, bar and private dining rooms set against the backdrop of the east-facing views across Southbank, the Royal Botanic Gardens, and the Melbourne Sports and Entertainment Precinct, all the way to the Dandenong Ranges.

The most premium amenities, exclusive to AURA’s premium residences, are located at the Cumulus Club on levels 66 and 67, offering a private dining room, dedicated lounges to watch the sunrise and sunset, treatment rooms, a private soak bath, yoga, meditation and sound rooms, and a botanical retreat where a Wollemi pine sits proudly atop AURA.

All amenities are booked through the residents’ app, and are designed to offer residents a true feeling of tranquillity.

AURA is already making an impact, winning Best Luxury Apartment Development (Victoria), Best Wellness Residential Development, Best Apartment Interior Design and Best Apartment Development (Australia) at the 2026 PropertyGuru Asia Property Awards in September, while OSK Property was awarded Best Lifestyle Apartment Developer.

Quotes attributable to Chong Boon Woon, CEO at OSK Property Australia:

“AURA represents a unique lifestyle experience for residents, which brings together the calm, clarity and simplicity of Japanese design, and its construction start marks a major milestone for the ever-evolving Melbourne Square precinct.

“We’re incredibly proud to be starting works for another exceptional residential tower in Southbank, and we look forward to adding to the urban fabric that makes this part of the city so unique.”

Quote attributable to Tan Sri Ong Leong Huat, Executive Chairman of OSK Holdings:

"AURA is not just another tower. It represents the next chapter in the Melbourne Square story, continuing our vision of creating a connected and thriving community in the heart of Southbank."

Quotes attributable to Ross Snowball, Multiplex Regional Managing Director:

“Today’s groundbreaking marks another important milestone for Melbourne Square and continues our long-standing partnership with OSK on one of Melbourne’s most significant residential precincts.”

“Having delivered the first two towers, and with BLVD currently under construction, our team brings the experience, project knowledge and innovative ways of working that come from delivering multiple stages of the development. Through the use of AI-enabled technologies and digital construction tools, we’re continuing to find smarter ways to plan and deliver complex projects.”

“We’re proud to be continuing onsite and look forward to working alongside OSK and our delivery partners to bring AURA to life.”

Quotes attributable to Deputy Lord Mayor Roshena Campbell:

"This $800 million investment in our city is not only good news for Southbank, but it’s also a huge vote of confidence in our city.

"AURA at Melbourne Square promises residents access to all that we love about Southbank - easy access to public transport, a world-class hospitality scene, and close proximity to the city’s arts precinct and the Royal Botanical Gardens.

"With more than 670 apartments and mixed-use facilities spread across 67 storeys, this is one of the biggest residential developments currently underway in the City of Melbourne. I am delighted that construction is getting underway on such a landmark project."

The AURA project is financed through a syndicated loan involving Maybank International Labuan Branch, The Hongkong and Shanghai Banking Corporation Limited, Sydney Branch, Australia, Bank of China (Malaysia) Berhad and Industrial & Commercial Bank of China (Malaysia) Berhad Labuan International Branch, with Maybank leading the transaction as Co-ordinating Mandated Lead Arranger and Bookrunner.

Quote attributable to Michael Oh-Lau, CEO of Maybank Investment Banking Group:

“The successful financing of AURA reflects both the quality of the project and the confidence that leading regional and international financial institutions have in OSK’s vision for Melbourne Square. As Coordinating Mandated Lead Arranger and Bookrunner, Maybank is proud to support a development that will enhance Melbourne’s urban landscape and create lasting value for the community. We look forward to seeing AURA become a defining landmark in Southbank.”