Japan’s Sumitomo Corporation has made its first investment in Australian real estate, entering into a 50-50 joint venture with Mirvac to develop the $830 million Highforest housing development in north-western Sydney.
The investment by Tokyo-listed Sumitomo Corp, a general trading company with market capitalisation of about $41 billion, marked the start of a new long-term relationship the Australian developer said on Wednesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.