NEX, Australia’s fourth-largest home builder, has entered the land development sector with a A$180 million ($126 million) acquisition of sites to deliver 900 homes across New South Wales, Australia, according to a report first published by Australian Financial Review.
The purchase includes five sites across Sydney, the Lower Hunter and Illawarra regions. The investment is backed by parent company Asahi Kasei Homes and is expected to secure a five-year pipeline of work for Nex Building Group.
Nex Building Group operates several brands in New South Wales, including McDonald Jones, Mojo and Complete.
The acquisitions were made through the newly established NEX Property business, marking the company’s first move beyond home building into land development. The expansion is part of a broader strat
