Another Japanese giant buys into Australian housing group
Japanese manufacturing giant Sekisui Chemical has agreed to pay $335 million for a 51 per cent stake in Brisbane builder and developer Ausbuild.
The deal values the Queensland-based business at about $670m.
Settlement is expected in January 2027.
Ausbuild has built more than 10,000 homes and has a pipeline of about 4500 more across South East Queensland.
Sekisui Chemical has a residential property business in Japan and Thailand.
Modular housing specialist buys into Ausbuild
The transaction marks Sekisui Chemical’s full-scale entry into the Australian housing market, with the company planning to combine Ausbuild’s development land holdings and construction platform with its own industrialised housing technology (continues below).
Sekisui Chemical has delivered more than 68,000 modular homes in Japan and plans to establish modular construction facilities in Australia within three years.
Its modular housing business, Sekisui Heim, also recently expanded into Canada.
The Ausbuild deal continues a run of Japanese investment into Australia’s building industry in recent years including Sumitomo Forestry’s acquisition of a controlling stake in Metricon and Obayashi Corporation’s purchase of Multiplex.
This month we reported Sydney-based Ingenia made a bid for Peet (US-based Warburg Pincus subsequently increased a bid for Ingenia which would thwart the Peet deal).
Ausbuild’s existing owners will retain the remaining 49 per cent, with the business continuing to operate from Brisbane.
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