NEX Property, a Japanese-backed home builder, spends $180 million on NSW land development as it invests in Australia’s housing undersupply

NEX, the country’s fourth-largest home builder, has launched into land development, spending $180 million to purchase real estate for 900 homes across NSW in a major deepening of Japan’s investment in Australia’s chronic housing undersupply.

The acquisition of five sites across Sydney, the Lower Hunter and Illawarra regions, funded by parent company Asahi Kasei Homes, will secure a five-year pipeline of work for Nex Building Group, which operates under brands such as McDonald Jones, Mojo and Complete in NSW.

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