Brokfield Multiplex has been announced as the builder of Australia 108 in Melbourne's Southbank, which is set to be the southern hemisphere’s tallest residential tower.

The $1 billion tower will house 1105 apartments and three levels of residential amenity including two infinity pools located 210 metres above ground. 

Construction will begin this month now that developer World Class Land has appointed a builder for the 319-metre luxury apartment building designed by Fender Katsalidis Architects. The full construction contract is estimated to be worth more than $500 million.

Brookfield Multiplex Regional Managing Director Graham Cottam said the Australia 108 job brings the value of its current residential projects under construction to more than $1 billion. 

Sales at Australia 108 launched in February and it is now almost completely sold, with less than 30 residences remaining. In April, the penthouse sold for $25 million.