The Diploma Group will develop the first stage of Fort Knox in Fremantle, Western Australia. The stage 1 development has an allocation of $11 billion.

Diploma Group's managing director and CEO Nick Di Latte said, “'Match never shy away from the challenging projects and at Maymont we worked closely together to address significant heritage considerations and delivered a quality mixed use development for the residents of Maylands and we are excited to have the opportunity to work with Match once again.”

The project marks the third time that Perth-based property developer, Match Group, contracted Diploma.

The Group successfully completed the Maymont development in December 2009. The earlier project included 16 retail tenancies and 42 apartments over three levels and Ottimo Apartments in Northbridge.

Di Latte takes pride in the construction of a property in Fremantle Port's 'buffer zone.' “We look forward to the challenge of delivering a building that works within the context of its surroundings but also showcases the latest sustainability design principles and will achieve a minimum NABERS 6 star energy efficiency rating,” he said.

The construction group began working on the site. The second stage of the project will begin early next year. Upon completion of the $50 million second stage in the middle of 2011, Fremantle will have 58 residential apartments over five levels.