Hyundai Engineering & Construction to develop 350bn KRW high-rise in Sydney

Hyundai Engineering & Construction has signed an investment agreement to develop a high-rise apartment complex in Chatswood, Sydney, with a total project cost of 350 billion KRW. The project is a collaborative effort under the ‘Team Korea’ initiative, involving the Korea Overseas Infrastructure & Urban Development Corporation (KIND) and Hantoo Real Asset.

The development will consist of a 45-story building featuring 260 Build-to-Rent (BTR) units. Located approximately 50 meters from Chatswood Station, the site is positioned near a major commercial hub. Hyundai Engineering & Construction will manage equity investment, technical design reviews, and overall construction management. Local construction firm Hickory will handle building, while Nobus will manage operations.

Demolition of existing structures is scheduled for November, with main construction beginning in March next year. The project aims for occupancy by October 2029. The move targets the growing rental demand in Sydney, which is projected to see significant immigration-driven population growth over the next decade.