Veris Ltd - Veris selected for new residential community
Veris Ltd (ASX:VRS)

Veris selected for new residential community

Published Aug 17, 2020

What happened?

What's happened?

Veris Ltd (ASX: VRS, “Veris”) has been selected to provide surveying and planning services for Stockland’s newest master planned residential community in Victoria – Katalia Estate.

What are the key highlights?

  1. The services will generate more than $1.5 million in total revenue for Veris Australia and our scope of works will commence immediately.
  2. The contract win adds to the company's significant portfolio of large projects in contracted work in hand and highlights the strength of the company's relationship with Stockland - one of the largest diversified property groups in Australia.
  3. Despite the current economic uncertainty due to COVID-19, Veris has continued to add new contracts to the secured project pipeline which remains over $30 million to be executed over the next 18 months.
  4. In addition to the above, there is an identified pipeline of tendered projects and prospects with a weighted value in excess of $70 million for execution over the same period.

For further information, please refer to the announcement linked below.

CEO's summary

Michael Shirley CEO of Veris Ltd has provided a statement.
Michael Shirley
Michael Shirley
CEO, Veris Ltd

"Stockland is a key national client for Veris, and this contract award is testament to the strength of our relationship and our capability to deliver value for Stockland’s developments through our comprehensive range of multidisciplinary services. Veris has a track record of delivery in Greenfield residential developments, and it is great to see ongoing confidence in the market through significant developments like Katalia Estate. Furthermore, it is fantastic to see Veris continuing to win and deliver work in Melbourne despite the Stage 4 restrictions due to COVID-19 and establishing new ways of working to ensure the safety of our people, clients and the community."

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