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Global Operations

Australia

Start of real estate development in the suburbs of Sydney

Flour Mill of Summer Hill Project
  • Location: Ashfield city, New South Wales
  • Number of units300(Condominiums)
  • Total site area24,789m2

Completion From the middle of 2016 (planned)

Australia’s population continues to grow, with further economic growth expected compared to other developed countries. Therefore in 2011, we established Daiwa House Australia, which is investigating business opportunities.

In 2015 we started the “Flour Mill of Summer Hill Project” in partnership with local real estate investment and management company EG Funds Management Pty Ltd, Sumitomo Forestry Co., Ltd. and Cosmos Initia. The suburbs of Sydney are expected to see increases in population because of stable birth rates and immigration. Against this backdrop, this is a project to develop and sell condominiums, commercial facilities, offices, and retail spaces in the former heritage site of a flour mill that has been managed by EG Funds Management. With a total area of 24,789m2, this is our second such real estate development project in Australia. In moving forward with our business, we will work together with Sumitomo Forestry in sales and product design, and also use our know-how developed over many years in developing housing, condominiums, and retail spaces in Japan. We are also planning to further work in partnership with EG Funds Management in expanding into the real estate development business in Australia.


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