In the Oceania region, Australia and New Zealand have been posting steady economic growth that compares well with the standards of other advanced industrialized countries. The Group's operations in this region are focused on Australia.
By welcoming into the Group companies that have been operating for many years, we have succeeded in building a stable construction business system.
As a result, we have expanded outside the confines of our original residence-centered business – timber-frame and steel-frame houses, condominiums, and the management of serviced apartments – and have racked up good business results in a wide area of real-estate development-related businesses such as the management of offices, retail outlets and other commercial facilities, and hotels.
Working with a large number of customers and business partners, we aim to continue creating complex added value.
A number of local companies are making a major contribution to the Daiwa House Group's business in Australia. These include Nesuto, which manages serviced apartments; Cosmos Australia, which specializes in condominiums; and Rawson, which handles single-family house construction and land development.
In 2018, together with Odakyu Electric Railway, we began work on the Box Hill Project, a large-scale housing development in New South Wales. The project covers 89 hectares and will involve a total of 1,500 home subdivisions.
The Drummoyne Project is a multipurpose project encompassing the development of condominiums, commercial facilities, and offices, which is being pursued with great care for the immediate environment. Leveraging the urban development expertise we have built up in the Japanese market, we hope to offer Australian customers an improved living environment.