Marubeni : Joins Build-to-Rent Development Project in Australia

Dec. 12, 2025
Marubeni Corporation

Marubeni Corporation (hereinafter, "Marubeni"), together with Australian real estate investment and asset management firm AsheMorgan, Haseko Corporation (hereinafter, "Haseko"), and Mizuho Leasing Co., Ltd. (hereinafter, "Mizuho Leasing"), has joined the District Living Project (hereinafter, the "Project"), a large*1 Build-to-Rent*2 (hereinafter, "BTR") development located in Docklands, a suburb of Melbourne, Australia.
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 high-quality rental housing.

From left: Hirohide Ishiyama (Managing Executive Officer, Mizuho Leasing), Akihiko Iwatani (Executive Officer, Haseko), Mendy Moss (Principal, AsheMorgan), Taro Kawabe (Managing Executive Officer, Marubeni) Groundbreaking ceremony

From left: Tokuro Furuya (Consul-General, Consulate-General of Japan in Melbourne), Mendy Moss (Principal, AsheMorgan), Koji Iwama (Regional CEO for Oceania; Chairman & Managing Director, Marubeni Australia Ltd.), Masahiro Nagaoka (Senior General Manager, Haseko Corporation), Hirohide Ishiyama (Managing Executive Officer, Mizuho Leasing), Noritake Miyaguchi (General Manager of Overseas Real Estate Business Dept., Marubeni), Michael Rothner (Principal, AsheMorgan)

Australia's population is set to grow by approximately three million over the next decade, driven by proactive immigration policies, while Melbourne, where the Project is located, is projected to overtake Sydney as the nation's most populous city by 2030.*3

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 BTR developments that can deliver comprehensive amenities and services while addressing Australia's housing shortages.

The Project is situated in Melbourne's Docklands suburb, an area undergoing major state-led redevelopment. Its prime location offers direct access to a large mixed-use commercial complex and excellent connectivity, with the city center just 10 minutes away. Designed to the highest environmental standards, the development targets net-zero carbon emissions through cutting-edge energy-efficient architecture and technology.

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, home to one of the world's largest real estate markets, Marubeni has expanded its rental housing investment and management business by leveraging expertise from its asset management business, which manages approximately JPY 1.8 trillion in assets across the Marubeni Group.

Through the 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 U.S. The company is targeting approximately JPY 300 billion in assets under management in Australia by the 2030s.

*1 Phase 1 of the Project comprises 626 residential units. With approval for 925 units total, including Phase 2 of the development, it is one of the largest Build-to-Rent projects in Australia.
*2 Build-to-Rent (BTR) refers to purpose-built residential properties developed exclusively for long-term rental. Typically managed by professional corporate operators, BTR developments offer well-equipped communal spaces and high-quality property management.
*3 Source: Government of Victoria
*4 REIT (Real Estate Investment Trust) refers to an investment trust that owns income-producing real estate and distributes returns such as rental income to investors.

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