David Pringle

Singapore-listed property developer Oxley Holdings has embarked on a mission to get a foothold in Australian property, acquiring 40 per cent of local development and construction group Pindan for $32 million.

Construction group Pindan said today it planned to make full payments to all sub-contractors by the end of this week, after co-founders George Allingame and David Pringle complete the sale of several properties.

SPECIAL REPORT: Confidence is growing among WA's construction companies, with Business News research identifying at least $4 billion worth of major private and public projects starting to take shape and more investment planned. Click through for our list of key building projects under way.

Four of the largest construction contractors in WA - unlisted companies Pindan, Georgiou Group, Doric/Jaxon and Perkins Builders - have achieved strong earnings and anticipate better conditions ahead.

Singaporean development group Oxley Holdings has moved to full ownership of Pindan for zero cost, after cancelling around $24 million in debt while also disclosing that the local contractor had failed to meet performance targets.

Perth-founded property group Pindan has added to its growing presence on the east coast with two design and construct contracts in NSW.

One of WA’s largest construction groups has avoided a dispute over allegedly defective building work after arguing the work was undertaken by an entity in liquidation.