Matrix Concepts Holdings Bhd announced the completion of its luxury boutique residential project named 333 St Kilda (333 StK) in Melbourne, Australia.

Located at 333 St Kilda Road, the project comprises 78 residential units and three retail lots on a land area of about 2,000 sq m, 7km from the Melbourne central business district.

The building includes two basement carparks with electric vehicle charging facilities and shared amenities such as a gym, media room, video conference room, private dining kitchen and a rooftop BBQ terrace with views of the St Kilda beach.

In a media statement issued on Tuesday, Matrix Development (Australia) Pty Ltd managing director Jon Lee acknowledged the challenges faced during the project, including Covid lockdowns, construction cost escalations, interest rate hikes, and increased and additional taxes. “Despite these obstacles, the team successfully completed the development, creating a beautiful boutique building in the heart of St Kilda.”

The completion was marked by a rooftop celebration attended by key stakeholders and community members, with guests including Foreign Minister Datuk Seri Mohamad Hasan and Matrix Concepts group executive deputy chairman Datuk Seri Lee Tian Hock. Matrix Development (Australia) is a subsidiary of Matrix Concepts.

In 2015, Matrix Concepts entered the Melbourne market with a boutique apartment project in Carnegie, followed by a land subdivision in Greenvale. The company is set to launch a new project in Melbourne while also pursuing longer-term investments in hotels, student accommodation and co-living developments.