India-Based DEC to Start Building Apartments Next Door to Beverley Hills Building, South Yarra

Elan apartments start at $1.6 million for a two-bedroom, with two car spaces.

DEC, headed by Indian billionaire Rakeesh Wadhawan, purchased the South Yarra site for about $4 million in 2008 as part of a $57 million spending spree that also included a Middle Park block of flats, on Beaconsfield Parade, and a major Southbank site capable of accommodating several high rise towers.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of