■ Hyundai E&C Launches Landmark Apartment Development in Prime Residential District of Sydney, Australia

… Signs Investment Agreement with KIND and Korea Investment Real Asset Management for Chatswood High-Rise Apartment Project

… 260 Units, 45 Stories on Prime Station-Front Site Adjacent to Northern Sydney's Largest Commercial Hub and Key Transit Interchange

■ Actively Pursuing Investment and Development Projects Centered on Advanced Overseas Markets, Leveraging Unrivaled Capabilities in the Housing Sector

… Strengthening synergies through a “Team Korea” approach combining private-sector expertise with public-sector policy support capabilities

… Accelerating efforts to secure a leading position in the global market by obtaining high-quality local housing construction data and networks

Rendering of the high-rise apartment complex in Chatswood, Sydney, Australia, for which Hyundai E&C, KIND, and Korea Investment Real Asset signed an investment agreement.

Hyundai E&C is expanding its reach as a global developer by actively pursuing real estate development projects in key overseas markets.

The Korean builder announced on Tuesday, the 22nd, that it had signed an investment agreement with the Korea Overseas Infrastructure & Urban Development Corporation (KIND) and Korea Investment Real Asset Management for a high-rise apartment development project in Chatswood, Sydney, Australia.

This contract was finalized based on a tripartite memorandum of understanding signed last February. At the time, the three parties formed “Team Korea,” combining the expertise of private companies with the policy support capabilities of public institutions, and agreed to jointly invest in and collaborate on global real estate projects in the United States, Australia, New Zealand, Bulgaria, and other countries.

Team Korea’s first project involves the development and leasing of a 45-story, 260-unit high-rise apartment complex in the Chatswood area of northern Sydney, Australia, with a total project cost of KRW 350 billion. Located adjacent to the largest commercial district in northern Sydney and approximately 50 meters from Chatswood Station, a key transportation hub, the project offers excellent residential and transportation infrastructure and is expected to establish itself as a new landmark apartment.

Hyundai E&C, which has participated in the project since the initial stages of development, is responsible for equity investment, technical and design reviews, and overall construction project management. With the goal of completing move-in by October 2029, the company plans to begin demolition of the existing building this November and commence main construction next March. Construction will be carried out by local construction company Hickory, while operations will be managed by local developer Novus. Through collaboration with Novus, a property developer specializing in the development and operation of rental housing in Australia, Hyundai E&C plans to strengthen its competitiveness upon entering the market by establishing an optimal development framework tailored to local conditions.

Australia is currently seeing growing rental demand due to a structural supply-demand imbalance, with housing supply failing to keep pace with continued population inflows. According to the “2025 Population Statement: New South Wales Snapshot” released by the Australian Center for Population under the Australian federal government, Sydney is expected to attract the largest number of overseas immigrants in Australia over the next 10 years, making it a key market expected to see rapid growth in housing development and rental businesses.

A Hyundai E&C official stated, “Hyundai E&C considers entering advanced overseas markets where housing demand is expected to expand as a major growth strategy, and is focusing on enhancing competitiveness based on its unrivaled business capabilities in the fields of EPC, housing construction technology, and products,” adding, “Through various overseas projects, we will secure high-quality local housing construction data and networks, while simultaneously establishing optimal business strategies to secure an early foothold in the global real estate market.”