ICD Property
ICD Property is a Melbourne-headquartered, privately-held design-led property developer delivering mixed-use residential, hotel and commercial precincts across Australian capital cities and Auckland, serving high-net-worth buyers, institutional investors and government partners via JV-funded landmark projects.
- Company typePrivate
- Founded2009
- HeadquartersMelbourne, Australia
- Headcount11–50
- GTM typeB2C
- OfferingServices
What ICD Property does
ICD Property (Innovative Construction & Development Pty Ltd) is a Melbourne-headquartered, privately-held property development group founded in 2009 with 11–50 employees, operating across residential, hotel, commercial and retail sectors in Australia and New Zealand. The company delivers design-led, mixed-use developments ranging from boutique inner-city projects (YOU & I, Maple, EQ Tower, HWKR) to large-scale precincts (Aspire Melbourne, Market Square Adelaide, Sydney House, Gen Fyansford, Federal Street Auckland, Riverside Lane Brisbane), with active project gross development value exceeding $1.6 billion across five Australian cities and Auckland.
Its revenue model is project-based, monetised through one-time residential settlements, hotel and commercial leases, and government-backed PPP delivery, with pricing not publicly disclosed and sales executed via on-site offices, project websites and direct enquiry. The company employs a sales-led go-to-market targeting high-net-worth individuals, institutional investors and government partners, and differentiates through tier-one architect partnerships (Elenberg Fraser, BVN, Woods Bagot, Peddle Thorp), international design awards, and repeat JV relationships with global capital and brand partners (First Sponsor Group, Supalai, Sino-Ocean Land, SH Hotels & Resorts).
ICD's underlying technology is not platform-based; rather, its competitive capability is concentrated in development expertise, design-led architectural partnerships, modular construction innovation (with Kapitol and CIMC), and a partner ecosystem spanning capital, construction (Hickory, Multiplex, Richard Crookes, Icon) and finance (Merricks Capital, MaxCap). The company is led by CEO Matthew Khoo, COO/Deputy MD Sal Quah (15-year tenure), CFO Sharon Blair and Managing Director Michael Mai, and has demonstrated government-tendered capability via its City of Adelaide PPP for Market Square Adelaide, Australia's first Treehouse Hotel destination.
ICD Property firmographics
Firmographics- Name
- ICD Property
- Legal name
- Innovative Construction & Development Pty Ltd
- Website
- https://icdproperty.com.au
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- ICD Property is a Melbourne-headquartered, privately-held design-led property developer delivering mixed-use residential, hotel and commercial precincts across Australian capital cities and Auckland, serving high-net-worth buyers, institutional investors and government partners via JV-funded landmark projects.
- Ownership category
- akta.pro rank
Where ICD Property is headquartered
LocationHeadquarters
- HQ city
- Melbourne
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
ICD Property business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Property Development and Sales: ICD Property generates revenue through the development and sale of residential apartments, commercial spaces, and hotel developments. Revenue is realized through one-time property sales transactions rather than recurring revenue streams. The company develops mixed-use precincts combining residences, retail, office, and hotel components.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Other | Residential apartments - quote-based pricing |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
ICD Property product offering
Product offeringCore offering
ICD Property is a Melbourne-based property development group that designs, develops and sells premium residential apartments, mixed-use precincts (combining residential, hotel, retail and A-grade office), master-planned communities, and a hospitality food-hall concept across Australia and New Zealand. Revenue is realised primarily through one-time apartment sales to high-net-worth individual purchasers and investors, with supplementary income from hotel, commercial and retail components delivered within mixed-use projects.
Product overview
ICD Property is a Melbourne-based property development group operating across residential, hotel, commercial, and retail sectors. The company delivers design-led projects spanning completed developments (Aspire Melbourne, EQ Tower, Maple, HWKR, YOU & I), under-construction projects (Market Square Adelaide, Sydney House, Gen Fyansford), and planning-stage projects (Riverside Lane Brisbane, Federal Street Auckland). The portfolio includes modular construction innovation through partnerships with Kapitol and CIMC. Projects range from boutique mixed-use developments to large-scale mixed-use precincts with hotel, residential, retail, and commercial components, with an expanding international presence.
Differentiator
Problem solved
Functional benefit
Products and services
- Aspire Melbourne A 570-residence sculptural residential tower in Melbourne CBD on the southern end of Flagstaff Gardens, completed in late 2023 and now selling newly-completed one, two and three-bedroom apartments. Designed by Elenberg Fraser, it features hotel-style amenities including a pool, sauna, steam rooms, cardio zones, terrace with spa, BBQ areas and private dining rooms. Awarded International Property Awards 2021 for Residential High-Rise Development in Australia and Best Residential High-Rise Architecture in Asia Pacific.
- Market Square Adelaide A $538 million transformative Public-Private Partnership with the City of Adelaide to redevelop the Central Market Arcade precinct at 21 Grote Street. Includes 234 residential apartments, a 248-room Treehouse Hotel (Australia's first Treehouse Hotel destination under SH Hotels & Resorts), A-Grade office space, and a new retail precinct. Designed by Woods Bagot with Multiplex as construction partner and Merricks Capital as financing partner. Completion due 2026.
- Sydney House Sydney A landmark circa $800 million 50-storey mixed-use development at 194-204 Pitt Street Sydney (the former City Tattersalls Club site), being delivered as a joint venture with Singapore-listed First Sponsor Group Limited. Features 241 premium residences and a 135-room luxury hotel, with careful heritage restoration of the original structure. Designed by BVN Architecture, constructed by Richard Crookes Constructions and sold via SRM Residential. Completion due 2027.
- Gen Fyansford Geelong A landmark ~$300 million master-planned community in Geelong transforming a former industrial site near the city centre into approximately 1,200 homes by 2027. Delivered in partnership with Thailand's Supalai Public Company Limited, with construction by Winslow and planning/design by Tract. Includes parks, walking trails, playgrounds and regenerated riverfronts. Won Parks & Leisure Australia Award for Playspace of the Year (2022).
- Riverside Lane Brisbane A proposed riverfront master-planned precinct in Brisbane's West End on a 1.68-hectare riverside site, marking ICD Property's first Queensland development. Will transform a former industrial parcel into a mixed-use residential neighbourhood with 1,100+ residences across six residential towers. Plus Architecture designed the masterplan. Currently in planning with Stage 1 targeted for completion around 2030.
- Federal Street Auckland ICD Property's first international venture - a bold 55-level tower in Auckland featuring 357 residential apartments and a 1,000 sqm ground-floor marketplace. Approved under the COVID-19 Recovery (Fast-track Consenting) Act 2020. Designed by Woods Bagot and Peddle Thorp with interior design by Tattico, and construction by Icon Constructions. Project value $664M.
- EQ Tower Melbourne A 65-storey $340M residential tower in Melbourne CBD with 633 apartments ranging from studios to three-bedroom residences featuring floor-to-ceiling glazing. Delivered in partnership with Sino-Ocean Land and constructed by Multiplex. Includes premium amenities such as a private cinema, gymnasium, rooftop spa and lounge. Completed 2017. Won Asia Pacific Property Awards 2017 for Best Residential High-Rise Development and Best Residential High-Rise Architecture, UDIA 2018 Best High-Density Development, and was a Property Council of Australia 2019 Finalist for Best Project Innovation. Sold over 80% of apartments within two months of launch.
- Maple Hawthorn Melbourne A premium low-rise residential development of 51 apartments across five levels with integrated ground-floor retail, located in Hawthorn approximately 5km from Melbourne CBD. Delivered in partnership with Angle and Buxton Group and designed by Stokes Architects. Completed 2016. Won Good Design Awards 2020 (Interior Design and Best Residential Development), UDIA 2018 Best Density Development Below 10-Storeys, and Property Council of Australia 2018 Residential Development award.
- HWKR Melbourne A design-driven hospitality concept food hall at 137 A'Beckett Street Melbourne CBD, showcasing rotating culinary talent inspired by Asian hawker markets. Designed by Craig Tan Architects in collaboration with BrandWorks. Recognised for Commercial Innovation and Project Innovation at The Urban Developer Awards 2019 and other food-service awards.
- YOU & I Collingwood ICD Property's first development - a boutique seven-storey mixed-use project in Collingwood featuring 63 energy-efficient apartments above ground-floor commercial tenancies. Designed by Orbit Architecture with interiors by Carr Design Group. Completed 2014. Set the benchmark for design-led medium-density development in Melbourne's inner north.
Quantifiable outcome
- EQ Tower sold over 80% of apartments within two months of launch
- +2 more outcomes
Companies that use ICD Property
Customer profileSegments4 records
Ideal customer profiles4 records
ICD Property technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
ICD Property partnerships and signals
Strategic signalPartnerships
33 partnerships are on record, tiered flagship, core, supporting and strategic.
- First Sponsor Group LimitedflagshipSingapore-listed First Sponsor Group Limited is the joint venture partner spearheading Sydney House, a landmark $800 million mixed-use development in Sydney CBD. First Sponsor leads a consortium that owns the former City Tattersalls Club site. The partnership combines First Sponsor's capital and market expertise with ICD Property's development capability.
- SH Hotels & Resorts (Treehouse Hotels)coreSH Hotels & Resorts, affiliate of Starwood Capital Group, partnered with ICD to bring Treehouse Hotel brand to Market Square Adelaide. This will be Treehouse Hotel's first Australian destination - a 248-room hotel as part of the mixed-use precinct. Treehouse Hotels was chosen following a competitive hotel operator campaign.
- City of AdelaideflagshipCity of Adelaide is ICD Property's partner in their first Public-Private Partnership - the Market Square Adelaide redevelopment. The City entrusted ICD with the transformative redevelopment of the Central Market Arcade, a landmark urban renewal project.
- HickorycoreHickory is a delivery partner for Aspire Melbourne, contributing construction expertise for the 570-residence development.
- Elenberg FrasercoreElenberg Fraser is the renowned architecture firm that designed Aspire Melbourne's exterior form. The architects designed both form and function with the sculptural landmark in mind.
- Sinclair BrooksupportingSinclair Brook is a delivery partner for Aspire Melbourne, providing architecture/interior services.
- Woods BagotcoreWoods Bagot is the architecture firm for Market Square Adelaide, designing the landmark precinct renewal in partnership with ICD Property and City of Adelaide.
- MultiplexcoreMultiplex is the construction partner for Market Square Adelaide, delivering the 40-storey residential and hotel tower.
- BVN ArchitecturecoreBVN Architecture designed the tower and interiors for Sydney House. BVN Principal Phillip Rossington is cited as a key creative force behind the project.
- Deloitte PDS GroupsupportingDeloitte PDS Group is a delivery partner for Sydney House, providing professional services.
- Supalai Public Company LimitedcoreSupalai Public Company Limited from Thailand is ICD Property's partner for Gen Fyansford in Geelong. The ~$300 million project will deliver around 1,200 homes by 2027.
- WinslowcoreWinslow is a delivery partner for Gen Fyansford, contributing construction expertise for the landmark master-planned community.
- TractsupportingTract is a delivery partner for Gen Fyansford, providing planning and design services.
- Plus ArchitecturecorePlus Architecture designed the Riverside Lane Brisbane riverfront masterplan, transforming a former industrial parcel into a mixed-use residential neighbourhood.
- Kapitol GroupstrategicKapitol Group collaborates with ICD Property on modular construction initiatives, combining Kapitol's construction capability with ICD's development strategy and local market understanding.
- CIMC Modular Building SystemstrategicCIMC Modular Building System partners with ICD Property and Kapitol to advance modular construction in Australia through delivery of a full-scale prototype for the Australian market.
- Icon ConstructionscoreIcon Constructions is the delivery partner for Federal Street Auckland, ICD Property's first international venture - a bold 55-level tower.
- Peddle ThorpcorePeddle Thorp is the architecture firm for Federal Street Auckland alongside Woods Bagot, designing the landmark 55-level tower.
- TatticosupportingTattico is a delivery partner for Federal Street Auckland, providing interior design services.
- Sino-Ocean LandcoreSino-Ocean Land partnered with ICD Property on EQ Tower, a 65-storey residential development in Melbourne CBD completed in 2017.
- MultiplexcoreMultiplex is the construction partner for EQ Tower, delivering the 633-apartment high-rise.
- AnglecoreAngle is the boutique developer partner for Maple Hawthorn, a premium low-rise residential development completed in 2016.
- Buxton GroupcoreBuxton Group partnered with ICD Property on Maple Hawthorn development.
- Stokes ArchitectscoreStokes Architects designed Maple Hawthorn, creating a calm, contemporary aesthetic with natural tones and textures.
- FigureheadsupportingFigurehead is a delivery partner for Maple Hawthorn.
- BrandWorkscoreBrandWorks collaborated with ICD Property on HWKR, a design-driven hospitality concept in Melbourne CBD.
- Craig Tan ArchitectscoreCraig Tan Architects designed HWKR, creating a layered, modular interior that feels dynamic, urban, and rooted in place.
- Orbit ArchitecturecoreOrbit Architecture designed YOU & I, ICD Property's first development - a boutique seven-storey mixed-use project in Collingwood completed in 2014.
- Carr Design GroupcoreCarr Design Group provided interiors for YOU & I, ICD Property's first development in Collingwood.
- Sinclair BrooksupportingSinclair Brook is a delivery partner for YOU & I.
- Mai GroupsupportingMai Group is referenced as a related company/organization on ICD Property's website footer.
- Axsia HTLsupportingAxsia HTL is a hotel consultant engaged by ICD Property for hotel positioning, design and integration within the Market Square mixed-use development.
- Richard Crookes ConstructionscoreRichard Crookes Constructions is the leading residential construction company delivering Sydney House. Known for meticulous quality and delivery of the Sirius building in The Rocks. Construction commenced early 2023 with completion due 2027.
Scale indicators19 records
Recent moves6 records
Expansion highlights6 records
ICD Property competitors and assessment
Company assessmentDirect peers
- Cbus Property: Australian mixed-use developer (industry super fund-backed) with a comparable focus on CBD residential towers, commercial office, and design-led urban renewal. Similar project archetypes and investor profile.
- Grocon: Privately held Australian property developer with a comparable focus on residential high-rise and mixed-use precincts in Sydney and Melbourne. Closely matches ICD on privately-held, design-led, urban mixed-use positioning.
- Salta Properties: Privately held Australian property developer active in residential, commercial, and mixed-use projects across Melbourne and other east-coast cities. Closely comparable on privately-held, design-focused mid-to-large scale mixed-use development.
- Walker Corporation: Privately held Australian developer of large-scale mixed-use precincts and master-planned communities. Comparable on private ownership, design excellence, and master-planned mixed-use delivery, with a broader geographic footprint.
- Mirvac Group: ASX-listed Australian property developer with a substantial mixed-use, residential, and commercial portfolio across Australia's east coast. Directly comparable in urban mixed-use and build-to-rent/residential-for-sale segments, though much larger and publicly listed.
Broad incumbents
- Frasers Property Australia: Australian arm of Singapore-listed Frasers Property. Comparable on mixed-use residential and commercial development, but with a much larger capital base and broader regional portfolio spanning residential, industrial, and retail.
- Stockland: ASX-listed diversified Australian property developer with residential, retirement, commercial, and logistics portfolios. Overlaps with ICD on residential and mixed-use, but operates at significantly greater scale across more asset classes.
- Lendlease: ASX-listed global property and infrastructure developer with a major Australian residential, commercial, and urban regeneration business. Substantially larger and more diversified than ICD, but directly overlaps in CBD mixed-use precincts.
Others
- Hickory: Australian construction and development group, currently a delivery partner for ICD on Aspire Melbourne. Operates as both builder and developer in residential and mixed-use, positioning it as a peer and partner rather than a pure competitor.
- Multiplex: Global construction contractor (Brookfield-owned) with significant Australian presence. Currently a delivery partner for ICD on Market Square Adelaide and EQ Tower. Acts as a builder and as a developer on select projects, so functions as both a partner and adjacent peer.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
ICD Property social profiles
Digital presenceICD Property financial estimates
Financial estimateRevenue estimate
Valuation estimate
ICD Property leadership team
Management profileNumber of profiles
Profiles13 records
ICD Property funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ICD Property M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ICD Property
What does ICD Property do?
ICD Property is a Melbourne-based property development group that designs, develops and sells premium residential apartments, mixed-use precincts (combining residential, hotel, retail and A-grade office), master-planned communities, and a hospitality food-hall concept across Australia and New Zealand. Revenue is realised primarily through one-time apartment sales to high-net-worth individual purchasers and investors, with supplementary income from hotel, commercial and retail components delivered within mixed-use projects.
Is ICD Property a public or private company?
ICD Property is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was ICD Property founded?
ICD Property was founded in 2009. It employs 11 to 50 people.
Where is ICD Property based?
ICD Property is headquartered in Melbourne, Australia, in the Oceania region.
How does ICD Property make money?
One revenue line is on record: property Development and Sales.
Who are ICD Property's main competitors?
Direct peers on record are Cbus Property, Grocon, Salta Properties, Walker Corporation and Mirvac Group. Broad incumbents are Frasers Property Australia, Stockland and Lendlease. Others are Hickory and Multiplex.
Does ICD Property have an API?
No public API is recorded for ICD Property.