DCN Group to develop first Bankstown apartment development with Latent Defects Insurance

DCN Constructions Managing Director Nadim Saad said getting LDI was a “no brainer.”

DCN Group has become the first developer in the Bankstown area to take out Resilience Insurance’s Latent Defects Insurance (LDI).

Resilience LDI is a new insurance policy that protects off the plan apartment purchasers for 10 years post-completion of the building, accounting for any structural defects that may occur and covering the costs for buyers.

LDI is obtained by either the developer or builder before construction begins since this insurance covers the entire project lifecycle. It involves a thorough review of plans, specifications, and other documents, along with monthly inspections by independent technical inspectors, extending up to the certification of Practical Completion.

What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?

DCN has taken the cover out on their new Bankstown project, The Hoskins, two buildings on Marshall Street with 44 apartments. 

DCN Group Managing Director Nadim Saad said getting LDI was a step forward to …