SINGAPORE (Dec 12): Frasers Property Australia is said to be acquiring Stockland’s The Grove Estate in Melbourne’s west for more than A$200 million ($198 million), according to reports from The Australian Financial Review.

Set to be one of the biggest residential land deals of the year, Frasers is understood to be in exclusive due diligence to take control of the A$700 million partially completed residential community located in Tarneit, Melbourne.

Contracts are also expected to be exchanged before Christmas break.

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