Japan’s Sekisui House continues growth in Australian residential property market
Sekisui House, one of Japan‘s largest homebuilders and founded in 1960, has recorded an impressive turnover for its Australian operations for 2016FY reaching in excess of $554 million, which reaffirms our continued rapid growth trajectory since entering the Australian market in 2009.
Over 1300 properties settled during this period in New South Wales and Queensland. The strong performance was driven by active residential property markets and the company’s diversified product offering which currently includes apartments, land subdivisions, integrated land and housing packages, and completed home products.
Sekisui House’s global business, headquartered in Japan, revealed a record result for 2016FY with turnover reaching ¥2.026 trillion (equivalent to $23.5 billion AUD as at 31/01/17), up 9 per cent on the previous year.
Its international division comprising China, USA, Singapore and Australia, achieved an increase in turnover of over ¥182 billion (equivalent to $2.1 billion AUD as at 31/01/17), or 103 per cent from the 2015FY.
Toru Abe, CEO and Managing Director at Sekisui House in Australia comments, “Last year was a significant period for our business with turnover increasing by 52 per cent from 2015, as we strengthened our strategic position to focus on products and services aligned to our core company philosophies.
“The economic conditions for property development in Australia have been extremely favourable in recent years. Sekisui House has capitalised on opportunities with the support of its global corporation. Collaboration on research and technology between Australia and Japan has helped contribute to our market penetration in Australia.”
In 2016 the business invested $570 million on two new sites totalling 17.5 hectares in New South Wales. The Orchards in north west Sydney’s Hills Shire district is a $1 billion masterplanned community comprising 1,300 apartments. The Roads and Maritime Services’ ‘urban activation precinct’ in Wentworth Point will be a $1.6 billion community with 2,000 apartments.
Sekisui House has already delivered over 8,000 properties to Australian families. With the two new acquisitions, its pipeline will be boosted to over $14 billion with approximately 15,000 properties to deliver over the next decade.
Mr Abe added, “Sekisui House’s vision is to create homes and communities that improve with time and last for generations. We have always placed a priority on creating sustainable communities that not only benefit the residents within, but also the society around them. Our expansion into commercial and retail delivery over the coming years is a direct response to the needs and demands of the communities we create.”
Source: Sekisui House