Sekisui House
Frasers Property
NEWS FRASERS ANNOUNCES JOINT VENTURE FOR CENTRAL PARK
Frasers Property Australia has announced today it has entered into a joint venture with listed Japanese construction company Sekisui House Australia Holdings Pty Ltd to equally and jointly develop the majority of Central Park.
Under the terms of the joint venture Frasers will continue as Development Manager, Project Manager and Sales and Marketing Manager for the project, to continue to realise the original vision for Central Park.
Frasers Property Australia’s Singapore-based parent company, Frasers Centrepoint Limited, is currently involved in similar joint ventures with Sekisui House Limited on other projects in Singapore and this joint venture represents an extension of that relationship into Australia.
Sekisui House Australia Holdings Pty Limited is a 100% subsidiary of Sekisui House Limited, which was founded in 1960 and is Japan’s leading housing construction company, having recently completed its two millionth home.
Frasers Property Australia CEO Mr Guy Pahor says that the joint venture will allow Frasers to recycle capital into other development opportunities in line with the company’s strategic growth objectives, while continuing to deliver Frasers' holistic vision for Central Park.
“We are delighted to announce the joint venture with Sekisui House, which has an outstanding reputation in Japan and is a company which mirrors Frasers’ commitment to delivering world-leading, sustainable and innovative urban developments,” Mr Pahor said.
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