Sumitomo Corporation Participating in the Highforest Project For Luxury House and Apartment Development in Sydney- Entering the Australian real estate market through a large-scale 15-hectare development adjacent to a state forest -

Highforest Project Overview

The project is being developed on a 15-hectare site in the suburbs of Sydney, adjacent to a lush residential neighborhood and state forest, with plans to construct 249 apartment units and 165 houses of low- and medium-rise residential building. The total project sales value of the development is approximately 83 billion yen. The site is strategically located just 800 meters from the Cherrybrook metro station, with easy access to Sydney’s central business district (CBD) 25 minutes away by car.

Sumitomo Corporation's Diverse Urban Development Business

The real estate business of the Sumitomo Corporation Diverse Urban Development Group has over 60 years of experience in residential development in Japan. Building on this expertise, the company entered the U.S. rental housing market in the 1980s, we have steadily built a track record globally. Sumitomo Corporation aim to promote comprehensive diverse urban development business globally, especially in regions where population growth and economic growth are expected.

Australian Real Estate Market

This project represents Sumitomo Corporation’s first entry into the residential development sector in Australia. The country is facing a serious housing shortage, which has become a significant social issue. The government’s proactive immigration policies have driven a steady population increase, particularly in cities like Sydney and Melbourne. This growth has led to rising housing demand, making the Australian market a promising and stable opportunity. With continued population growth expected in Australia, the housing sector is expected to see stable growth.
Sumitomo Corporation aim to leverage the knowledge and experience gained in Japan, the United States, and Asia to invest over 100 billion yen in the APAC region, including Australia, India, and Vietnam, by fiscal 2030.

About Mirvac Limited

Mirvac is one of Australia's leading integrated real estate developers with a history spanning more than 50 years. The company develops and operates residential, office, retail and logistics properties across Australia, with operations in cities including Sydney, Melbourne, Brisbane, Perth and Canberra. Mirvac’s total asset base is valued at 2.2 trillion yen and it manages 1.5 trillion yen worth of external real estate, with an extensive development pipeline valued at approximately 2.9 trillion yen.

Sumitomo Corporation aims to contribute to the creation of comfortable living environments in Australia by combining its urban development expertise with Mirvac’s capabilities. Together, we will provide high-quality housing as a foundation for the lives of Australian residents.

Reference

Development Details

Artist’s Impression

Designed to allow residents to enjoy views of the park from both apartments and houses, open space is provided throughout the development, including many tree-lined streets, to create an environment where residents can interact with nature. Additionally, shared amenities such as an indoor pool, BBQ area and basketball court will provide space for residents to socialize.

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