• Further progress made on Verse on McCabe development with $15.05m in sales under contract
• One apartment settled at Forbes Residences for $3m, another under contract
• Vacant land site in Midland sold for $1.375m to focus on core developments

Mustera Property Group Ltd (ASX: MPX) released its quarterly activities report for the period ending 31 December 2025. The key highlights include:1. Verse on McCabe, North Fremantle: The Group advanced its 42-apartment, eight-storey residential development, with project documentation progressing and a strong focus on design and construction quality. The marketing campaign generated strong enquiry and multiple purchaser reservations, resulting in $15.05 million in contracted sales as at the end of the quarter. The Group is in the process of engaging a suitable building contractor, with construction anticipated to commence in Q2 2026.2. Forbes Residences, Applecross: The Group maintained active marketing efforts for the remaining unsold apartments and commercial units. One apartment was settled during the quarter for $3 million, with a further apartment the subject of a conditional contract that became unconditional after the end of the quarter.3. Lot 801 Helena Street, Midland: The Company's vacant land site in Midland was placed under contract during the period and settled in the subsequent quarter. The property was sold for $1.375 million, with the net proceeds applied to reduce the Group's debt. The Group decided to divest this non-core asset to focus on its developments in McCabe Street and East Perth.4. Financials: During the quarter, the Company incurred operating costs of approximately $1.2 million and marketing costs of $207,000 associated with its development and advertising activities. Operational overheads totaled approximately $296,000, comprising staff costs of $192,000 and administrative and corporate costs of $104,000. The Company also incurred interest and finance costs of approximately $255,000 during the quarter.

The Company did not provide any high-importance, price-sensitive forward-looking financial metrics or guidance.