KIND

KIND Signs Investment Agreement for High-Rise Apartment Development Project in Sydney, Australia
Hyundai E&C and Korea Investment Real Asset Management Form “Team Korea,” Marking First Milestone in Advanced Overseas Real Estate Development Market

■ KIND Launches High-Rise Apartment Development Project in Prime Residential Area of Sydney, Australia

 - Investment agreement signed with Hyundai E&C and Korea Investment Real Asset Management for a high-rise apartment development in Chatswood
 - Prime location approximately 50 meters from a major transport hub in northern Sydney; 260 residential units in a 45-story tower

■ Public-Private “Team Korea” to Accelerate Projects in Advanced Overseas Markets

 - Strengthening synergies through “Team Korea,” combining private-sector expertise with public-sector policy financing and project support
 - Pioneering a new model for joint public-private investment in advanced overseas real estate development markets

The Korea Overseas Infrastructure & Urban Development Corporation (KIND), led by President Kim Bok-hwan, is stepping up its support for Korean companies seeking to enter advanced overseas markets, while demonstrating tangible achievements in expanding its global footprint and investment activities as Korea’s public developer.

KIND announced on September 22 that it has signed an investment agreement with Hyundai Engineering & Construction (Hyundai E&C) and Korea Investment Real Asset Management for a high-rise apartment development project in Chatswood, Sydney, Australia.

The investment agreement marks the first tangible outcome of the memorandum of understanding signed among the three parties in February. As both a public developer and a policy financing institution, KIND has formed “Team Korea,” combining the expertise of private-sector companies with the public sector’s investment and project-support capabilities. 

Through this partnership, the three parties have pursued joint investment and cooperation in real estate and infrastructure development projects in major overseas markets, including the United States, Australia, New Zealand, and Bulgaria.

As the first urban development project undertaken by Team Korea, the project will involve a total investment of approximately KRW 350 billion to develop and operate a 45-story, 260-unit Build-to-Rent (BTR) residential tower in Chatswood, one of northern Sydney’s key urban centers. The project site is adjacent to northern Sydney’s largest commercial district and is located approximately 50 meters from Chatswood Station, a major transport interchange, providing excellent access to both transportation and urban amenities.

Australia is currently experiencing rapidly growing demand for quality rental housing due to a structural imbalance between continued population growth and insufficient housing supply. Sydney, in particular, is expected to receive the largest inflow of international migrants in Australia over the next decade, making it a key market with strong growth prospects for both residential development and rental housing.

From the early stages of the project, KIND has worked closely with Hyundai E&C, which will participate through equity investment, design review, and construction management services, and Korea Investment Real Asset Management, which will participate through equity investment and asset management. KIND has also contributed extensively to the project by supporting financial structuring and strengthening the consortium’s negotiating position.

The project is scheduled to begin with the demolition of existing structures in November 2026, followed by the commencement of main construction works in March 2027, with occupancy targeted for October 2029. Local construction will be undertaken by Hickory, while rental operations will be managed by Novus, a local specialist developer, establishing a stable framework for the successful implementation and operation of the project.

A KIND official said, “This investment agreement represents a flagship public-private partnership model in which KIND, as Korea’s public developer, has successfully joined forces with leading Korean construction and financial companies to enter an advanced overseas housing and real estate market.” The official added, “KIND will continue to serve as a catalyst for Korean companies seeking to establish themselves and secure distinctive competitiveness in global markets by leveraging policy financing support and our global partnership network.”