Future Focus

At the heart of Homecorp’s expansion strategy is the company’s strategic ownership by Japan’s Prime Life Technologies.

This joint venture of Japanese giants Toyota Motor Corporation and Panasonic was established to help foster research and innovation around the way we live. The Tokyo- based company acquired a 51 per cent controlling stake in Homecorp Constructions in 2018 through subsidiary Misawa Homes Australia.

“We were actively looking for capital and at the same time they were looking for investment into Australia,” Bakir says. “We met them, struck up a good relationship and they decided we were the right partner for them.”

The investment gives Homecorp unparalleled access to the future of property development. Prime Life Technologies partner Toyota is behind the innovative Woven City near Mount Fuji, a prototype master planned community powered by hydrogen fuel cells.

The city is designed to challenge the status quo and redefine how we live. The first 100 residents are moving into the $15-billion “living laboratory” which will eventually accommodate 2000 people.

Toyota’s vision is to redefine urban living on the 70ha site through the integration of cutting edge sustainability practices and technology, including artificial intelligence, advanced robotics, autonomous vehicles, smart homes and a state-of-the-art digital operating system designed to streamline urban infrastructure.

“We’ve got a plan to 2030-2031 to grow our portfolio aggressively around the country,” Bakir says. “We’ve locked up a number of sites now and, over and above that, we’ve got a number of sites that are under due diligence.”

“Part of our strategy going forward is to pivot the business into more medium-density type product, which will be both build-to-sell and build-to-rent,” the Homecorp chief executive says. “As well, we’ll be growing our property management arm.”

Homecorp recently completed its $270-million, 25-storey Eve Residences tower overlooking the Broadwater at Labrador on the Gold Coast. Construction is also underway on the $250-million Stage Two of Cienna Varsity Ridge at Varsity Lakes – both exceptional examples of Homecorp’s commitment to its vision to develop inspiring communities of the future where people belong.