Soaring costs have forced Kokoda Property Group to launch a search for the new funding it needs to build a $1.4 billion luxury apartment project in Brisbane, a high-profile inner-city development whose construction was due to begin two years ago.
The quest for fresh equity is the latest challenge facing the five-tower Teneriffe Banks project after the company put itself into voluntary administration four months ago following a stand-off with private credit lender Everland over a $26.6 million debt.
Loading…