Japanese giant buys into Melbourne office and apartment project

According to The Australian Financial Review, Japanese building giant Kajima has seen an opportunity to make good returns in the South Melbourne property market, after acquiring an equity stake in a $160 million mixed-use project being undertaken by local developer Lowe Living.
In exchange for investing in the project, Kajima, through its Australian development subsidiary, Icon Kajima, will earn an equal share in any profit the project generates.
The Woods Bagot-designed development, which was approved in just four months by the City of Port Phillip, comprises a 2000 sq m two-level commercial office building with an adjacent car park, 1000 sq ms of ground-floor retail space, and 36 one, two and three-bedroom apartments.

https://www.afr.com/property/commercial/japanese-giant-buys-into-melbourne-office-and-apartment-project-20230426-p5d3d3