Deicorp and Metrics Credit Partners have marked a pivotal moment in urban renewal with the sod-turning for the $1.8 billion Kings Bay Village precinct in Five Dock.
NSW Premier Chris Minns and Planning Minister Paul Scully joined Deicorp Chairman Fouad Deiri OAM and Metrics CEO Andrew Lockhart at the 129-154 Parramatta Road site on November 27, 2025.
The project transforms over three hectares of underutilised land into 1,185 homes, including 218 affordable units for essential workers, plus 14,700sqm of retail and commercial space and 6,500sqm of public open space.
Award-winning architects TURNER designed six buildings blending brick aesthetics with pedestrian-friendly layouts, featuring a 2,290sqm landscaped park as the community’s civic heart.
Completion is slated for Q2 2029, boosting Deicorp’s Sydney pipeline to 5,102 apartments under construction.
Kings Bay Village aligns with the NSW government’s Parramatta Road Corridor Urban Transformation Strategy, revitalising the route from Granville to Camperdown through rezoning and infrastructure upgrades.
Minutes from the future Five Dock Metro Station — set to open in 2032 as part of Sydney Metro West — it supports City of Canada Bay’s 2029 housing target, contributing over 23 per cent of 5,000 new homes.
Deicorp commits $80 million for enhancements like pedestrian laneways and streetscape activation.
Fouad Deiri OAM, Chairman of Deicorp, said Kings Bay Village represents a defining opportunity for Sydney’s Inner West.
“[This] marks the beginning of a precinct that will deliver lasting benefits for the Five Dock community — new homes, new open spaces, and a vibrant mixed-use environment that brings people closer to transport, services and amenities,” said Deiri.
“We are proud to be delivering much-needed housing, including affordable homes for essential workers, in partnership with the NSW government and the City of Canada Bay.
“Kings Bay Village is urban renewal at its best — thoughtful, connected and community-focused.”
Metrics CEO and Managing Partner Andrew Lockhart said the company is proud to support more housing and infrastructure in a key Sydney corridor.
“Metrics and Deicorp share a proven track record of delivering high-impact projects that align closely with the NSW Government’s housing and infrastructure priorities,” said Lockhart.
“Kings Bay Village marks our most significant Sydney development to date, offering quality homes, essential infrastructure, and dynamic public spaces.”
“This project reflects our ongoing commitment to creating value by supporting economic growth, job creation, and delivering excellent outcomes for our investors,” he said.
This joint venture, announced in August 2025, builds on prior Metrics-Deicorp collaborations across 12 Sydney sites like Castle Hill and Petersham, underscoring private investment in public priorities amid housing shortages.
