Media Release
18 June, 2009
Japanese Sustainable Housing Investment to Support up to 8000 Jobs
Up to 8000 jobs will be supported as a result of a $190 million Japanese joint venture investment by Sekisui House to oversee the construction of 4,500 homes in Homebush Bay (Sydney) and the Ripley Valley (QLD).
In one of the largest recent foreign investments in Australia’s residential property sector, the joint venture with Payce Consolidated will help overcome housing shortages in Sydney and drive sustainable development in Queensland’s rapidly growing Ripley Valley
Australia’s Minister for Trade Simon Crean welcomed Sekisui’s commitment to Australia, saying the deal demonstrated the importance of foreign direct investment to job creation as well as Australia’s “green building” strengths.
“The construction of thousands of environmentally-friendly homes will deliver employment opportunities and lead to sustainable communities built from the ground up using innovative materials and design concepts,” Mr Crean said.
“Around 3,500 jobs will be supported for workers in NSW, and there will be an estimated 4,500 jobs in Queensland.
“Sekisui House chose Australia because we have the have the architects, designers, engineers and builders to develop world-class sustainable and energy-efficient housing on a major scale.
“Green building is also a significant export opportunity and that is why last month I led a green building mission to China to showcase Australian skills and expertise in this sector,” Mr Crean said.
Recently released ABS statistics show Japan is one of Australia’s fastest growing major sources of foreign direct investment, rising by 16% from $31 billion in 2007 to $36 billion in 2008.
Total Japanese investment in Australia now stands at nearly $90 billion.
“While the global financial crisis has caused global trade and investment flows to contract, Japan is one of the economies countering this trend,” Mr Crean said.
“Investments in Australia by Asahi Beer, Kirin, Fujitsu, Nippon Paper, Mitsubishi and Marubeni, highlight Japan’s investment potential.”
In Japan, Sekisui House has constructed nearly two million residential homes. The company is strongly committed to sustainability and developed its first carbon neutral house in 2007.
Austrade worked with Sekisui House to facilitate their selection of Australia as the destination for their overseas expansion, enhanced their understanding of the Australian building and construction industry, and assisted in their establishment of Australian operations.
Media Inquiries: Mr Crean's office 02 6277 7420 - Departmental Media Liaison 02 6261 1555