The next growth phase for developer Australand has started with a name change to Frasers Property Australia to be run by the newly-appointed chief executive Rod Fehring.
By taking the Singaporean-based parent's name, the company will look to launch new projects across Australia and into Asia, with a focus on the booming demand for industrial and logistic real estate. 
Mr Fehring, who took over the reins from Bob Johnston in   July, who has left to run GPT Group, said the company will now be "pan asian" in all the operations.
For many years Mr Fehring ran Australand's residential business and his appointment to replace Mr Johnston was seen as an signal of the group's direction.
He said that the Sydney residential market would remain strong "to at least into 2017", while Melbourne could see a correction in the coming couple of years.
Frasers Centrepoint, which is controlled by Thailand's third-richest tycoon, Charoen Sirivadhanabhakd???, took over Australand last year after a hard-fought battle with GPT Group. The Singapore-listed group has a significant exposure to Australia through its Central Park development in Sydney and the Sofitel Wentworth hotel, Sydney.
"Under the Frasers banner we have more opportunities to grow offshore and within Australia," Mr Fehring said.
"Its a reset of the business and a completion of the integration of the two companies," Mr Fehring said.
"Frasers and Australand have a good fit culturally and we can use that to grow all parts of the residential, industrial and the unlisted funds businesses."
Mr Fehring said the housing and industrial property sectors are closely linked and for that reason will be a focus for the group.
"There is a high demand for industrial assets emerging in Asia and with Frasers we will look to enter that market," he said.
The booming residential sector has also attracted the Australian developer, Dyldam Developments, which has paid $24 million for an office building 460 Church Street, Parramatta.
In a deal negotiated by CBRE's Western Sydney managing director Frank Oliveri, the property has been ear-marked for a new 120-plus apartment project.
Mr Oliveri  said that with all of the existing office leases in the building either short term or subject to demolition clauses, the property had been marketed as an ideal conversion opportunity.
"Parramatta is being rapidly transformed, with the periphery of the CBD shifting from being predominantly a commercial precinct to one that is now dominated by residential developments," Mr Oliveri said.
New developments in the northern precinct of Parramatta include Meriton' s 330 Church Street, the Lidis redevelopment of the Lennox Bridge Car Park, 333 Church Street and Holdmark's 463 Church Street project.
Mr Oliveri expects developers to increasingly target opportunities in both Parramatta and other suburban CBDs such as Strathfield, where CBRE is presently marketing 2 Raw Square - an office building that would suit conversion to 70+ apartments subject to the relevant approvals.