By KYLIE STEVENS, SENIOR BREAKING NEWS REPORTER, AUSTRALIA
Published: 04:25 BST, 25 August 2026 | Updated: 05:42 BST, 25 August 2026
An embattled Sydney property developer has collapsed, leaving up to 15,000 unfinished homes in limbo, along with 500 jobs.
The Bathla Group went into voluntary administration on Tuesday, owing an estimated $3.6billion.
Administrators from Teneo were appointed to undertake 'immediate assessment' of the company's finances in an effort to stabilise operations.
The company's main entity Universal Property Group, owes almost $3.2billion, while another entity, Raj & Jai Construction, had $304million in liabilities at the end of the 2024-25 financial year.
'Urgent' discussions with lenders are now underway.
'Our priority is to stabilise the business so that construction activity and property settlements can continue in the ordinary course,' Teneo's head of financial advisory, Stephen Longley said.
'Our objective is to ensure project continuity wherever practicable, and [to] work with lenders to minimise disruption for employees, customers and contractors.'
Bathla develops budget-friendly housing estates, townhouses and apartments across Sydney, including growing suburbs Schofields, Marsden Park and Tallawong in the city's north-west.
The Bathla Group went into voluntary administration on Tuesday, owing more than $3billion
Up to 15,000 homes under construction are now in limbo
Bathla Group builds budget-friendly housing estates, townhouses and apartments across Sydney
Bathla has also built homes in regional NSW, South Australia, and most recently, Victoria,
The company is a major and front-of-shirt sponsor for A-League club Western Sydney Wanderers.