• Finbar successfully launched its $115 million Riverbank Residences project
• Over 70% of 143 lots sold at a value of approximately $85 million
• Construction to commence in October 2025, with completion estimated CY2027

Finbar Group Limited (ASX: FRI), Western Australia's leading apartment development company, has successfully launched its Off-the-Plan sales campaign for its Riverbank Residences project in Rivervale, with construction to commence in the coming months. The $115 million Riverbank Residences development at 30 Riversdale Road is a 143 apartment project positioned on the banks of the Swan River. Located within an established mixed-use precinct and in close proximity to various amenities, the development comprises a 19-storey, plus roof deck building with a full range of lifestyle amenities. Finbar has achieved a record month of sales for August, with 150 lots sold for a total value of approximately $125 million, a record across the company's more than 30-year history. This success was driven by the strong demand for affordable, mid-tier apartment product, with repeat local buyer activity representing 50% of Riverbank Residences sales. With construction now confirmed to commence in October 2025, Finbar anticipates the strong sales campaign to continue as buyers look to take advantage of available stamp duty concessions. This success bodes well for the upcoming launch of Finbar's Palmyra Stage Two development and the company's bolstered development pipeline of over $1.15 billion across metropolitan Perth.

Finbar anticipates the strong sales campaign for the Riverbank Residences project to continue as buyers look to take advantage of available stamp duty concessions. The company's success with the Riverbank Residences project also bodes well for the upcoming launch of its Palmyra Stage Two development and the company's bolstered development pipeline of over $1.15 billion across metropolitan Perth.