Some $2bn worth of development projects within its existing portfolio would drive the growth of the GPT Group, chief executive Michael Cameron has said.

The group's strategy was to develop assets for long-term ownership, he said.

GPT is undertaking projects in commercial, retail and industrial sectors, totalling about $940m.

'We look to development opportunities within our portfolio' he said. The key criterion was that all projects had to meet its financial targets.

'We look for a minimum yield of 7 per cent for the first year.'

Development was a key component of the 'active ownership model' that underpinned GPT's approach to creating value for investors.

The Australian