Marubeni Corporation, alongside Australian real estate investment and asset management firm AsheMorgan, Haseko Corporation and Mizuho Leasing Co., Ltd, has joined the District Living Project Build to Rent development located in Melbourne.
This partnership represents a significant milestone in Marubeni’s expansion into the Australian real estate market, which is experiencing record population growth and surging demand for new rental housing.
Phase One of the scheme comprises 626 units. The development has approval to deliver 925 units in total, which includes Phase Two.
District Living Project is situated in Melbourne’s Docklands suburb, which is undergoing major state-led redevelopment. Its prime location offers direct access to a large mixed-use commercial complex and excellent connectivity, with the city centre just ten minutes away.
Designed to the highest environmental standards, the development targets net-zero carbon emissions through cutting-edge energy-efficient architecture and technology.
Australia’s population is set to grow by approximately three million over the next decade, driven by proactive immigration policies, while Melbourne is projected to overtake Sydney as the nation’s most populous city by 2030.
This rapid population growth, coupled with a severe shortage of rental housing, has created unprecedented demand for professionally managed rental communities.
In response, federal and state governments are actively encouraging Build to Rent developments that can deliver comprehensive amenities and services while addressing Australia’s housing shortages.
Marubeni has also developed and continues to pursue residential projects in high-growth markets including India and Southeast Asia, drawing on its extensive experience in Japan’s housing sector.
In the United States, Marubeni has expanded its rental housing investment and management business by leveraging expertise from its asset management business, which manages approximately JPY 1.8tn in assets across the Marubeni Group.
Through District Living Project, Marubeni aims to establish a strong presence in Australia, which has the highest population growth rate among developed countries and the world’s second-largest REIT*4 market after the US.
The company is targeting approximately JPY 300bn in assets under management in Australia by the 2030s.
