DCN Group Pioneers Bankstown's First Apartment Development with Resilience Insurance

‍ DCN Group Pioneers Latent Defects Insurance in Bankstown Development

DCN Group has set a new benchmark in Bankstown by becoming the first developer in the area to implement Resilience Insurance's Latent Defects Insurance (LDI) for their latest project, The Hoskins. This innovative insurance policy offers a 10-year warranty to off-the-plan apartment buyers, safeguarding them against structural defects post-completion.

A Strategic Move for Quality Assurance

DCN Group's Managing Director, Nadim Saad, describes adopting LDI as a straightforward decision. As a builder-developer company with a history dating back to 1987, DCN has always prided itself on high-quality construction. "By securing LDI, we're not only endorsing our work but also signalling to prospective buyers that we stand firmly behind our projects and won't abandon them after completion," Saad explains.

Rigorous Oversight Ensures High Standards

Resilience LDI is exclusively available to developers and builders who meet stringent trustworthiness criteria. The insurance process includes comprehensive reviews of project plans and monthly inspections by independent technical inspectors, ensuring quality is maintained throughout the construction lifecycle. For The Hoskins, a two-building project on Marshall Street featuring 44 apartments, DCN partnered with construction consultants and SDSS to maintain rigorous oversight.

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First published to new property buyers on Urban.com.au/news: DCN Group to develop first Bankstown apartment development with Latent Defects Insurance

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Boosting Market Confidence

The introduction of LDI is a significant advancement for the off-the-plan apartment market, enhancing buyer confidence and industry accountability. As the second developer in Sydney to adopt LDI, following Urban Property Group, DCN is at the forefront of this industry shift. "This move represents a significant leap forward," Nadim states, crediting the increased accountability to recent initiatives by the Building Commissioner.

Educating Buyers and Setting New Standards

The awareness and expectations of off-the-plan buyers are evolving. Saad notes that prospective purchasers are increasingly inquiring about quality safeguards like iCIRT ratings and LDI. "It's no longer about buying an apartment and hoping it meets promised standards. With LDI, there are robust protections in place to ensure buyer investments are secure," he adds.

Conclusion

For property developers and project managers, incorporating LDI into their projects is a strategic decision that underscores commitment to quality and buyer protection. As demonstrated by DCN Group, adopting LDI not only enhances marketability but also positions developers as leaders in a more accountable and transparent industry.

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More on How Latent Defects Insurance Boosts Confidence in Off-the-Plan Apartment Market here.