Image: Sekisui House’s ‘The Orchards’ in north west Sydney’s Hills
Sekisui House recorded a turnover for its Australian operations for 2016FY reaching in excess of $554 million.
Over 1300 properties settled during this period in New South Wales and Queensland. The development company attributed their performance to active residential property markets combined with their offerings that include apartments, land subdivisions, integrated land and housing packages, and completed home products.
Sekisui House’s global business, headquartered in Japan, revealed a record result for 2016FY with turnover reaching ¥2.026 trillion (equivalent to $23.5 billion AUD as at 31/01/17), up 9 per cent on the previous year.
Its international division comprising China, USA, Singapore and Australia, achieved an increase in turnover of over ¥182 billion (equivalent to $2.1 billion AUD as at 31/01/17), or 103 per cent from the 2015FY.
Sekisui House Australian CEO and Managing Director Toru Abe said 2016 was a significant period for business with turnover increasing by 52 per cent from 2015.
“The economic conditions for property development in Australia have been extremely favourable in recent years. Sekisui House has capitalised on opportunities with the support of its global corporation. Collaboration on research and technology between Australia and Japan has helped contribute to our market penetration in Australia.”
In 2016 the business invested $570 million on two new sites totalling 17.5 hectares in New South Wales. The Orchards in north west Sydney’s Hills Shire district is a $1 billion masterplanned community comprising 1,300 apartments. The Roads and Maritime Services’ ‘urban activation precinct’ in Wentworth Point will be a $1.6 billion community with 2,000 apartments.
Mr Abe said Sekisui House’s vision is to create homes and communities that improve with time and last for generations.
“We have always placed a priority on creating sustainable communities that not only benefit the residents within, but also the society around them.”
Sekisui House delivered over 8,000 properties to Australia but with the two new acquisitions, its pipeline will be boosted to over $14 billion with approximately 15,000 properties to deliver over the next decade.