We are moving ahead with real estate development operations in Australia, where the population continues to increase and economic growth is forecast to be more stable than for most other developed countries. Our operations center on Sydney, and in 2015 we started a project involving the development and sale of condominiums, commercial facilities, offices and retail space in a four-way partnership with local company EG Funds Management Pty Ltd, Sumitomo Forestry Co., Ltd., and Cosmos Initia. Going forward, in addition to our main business line of condominium development, we intend also to become involved in the development of land for residential purposes as a way of expanding our overall business sphere.

In 2017, a company that had been engaged in the management of serviced apartments for the past thirty-five years in Australia and New Zealand joined the Daiwa House Group, and in 2019 was rebranded as Nesuto. In 2018 the Daiwa House Group was joined by Rawson Group Pty, Ltd., which is engaged in the single-family home construction and property development businesses in New South Wales. All the companies of the Daiwa House Group will be working together to expand our business presence in this part of the world