Aug 26, 2026 – 12.36pmHousing provider Ingenia Communities said it would buy ASX-listed land developer Peet in a deal worth just under $1 billion that boosts Ingenia’s land bank by up to 7000 lots to roll out for the growing market of new housing for downsizing Baby Boomers.Ingenia, which late on Tuesday warned that a slowing housing market had hit inquiries in the current trading period, said it would pay $2.12 a share, in a mixture of cash and scrip, to acquire the listed shares of Peet, in a deal that values the Perth-based company at about $993 million.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles