Villa World spends up

GOLD Coast developer Villa World has expanded its footprint in Melbourne — buying two sites for $44 million.

The sites are at Plumpton in Melbourne’s northwest and are expected to yield more than 500 lots.

Chief executive Craig Treasure said the acquisitions bring the company closer to its goal of a housing portfolio with 20 per cent in NSW, 40 per cent in Queensland and 40 per cent in Victoria.

The new projects are expected to contribute to profit in FY19. Shares closed down 2.1 per cent at $2.23.