MOL Joins Industrial Real Estate Project in 4 Australian Cities

Tokyo - September 12, 2024

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced its participation in a project to develop and lease industrial real estate in Australia through an investment in a fund established and managed by Hankyu Hanshin Properties Australia Pty Ltd (HHPAUS), an Australian subsidiary of Hankyu Hanshin Properties Corp. (President: Yasuki Fukui; Head Office: Osaka-shi, Osaka).

This marks MOL's first industrial real estate business in Australia, in which it will acquire interests in 11 logistics properties in four Australian cities (Sydney, Melbourne, Brisbane, and Perth) and engage in development and leasing operations in cooperation with ESR Group Limited, APAC's largest real asset manager powered by the New Economy, which has US$156 billion in assets under management globally, and other partners.


Representative Properties.   Image by MOL.

MOL Group company Daibiru Corporation has already entered the office building development business in Australia, and MOL now aims to generate stable earnings in the field of industrial real estate, where demand is expected to grow sharply in response to rising e-commerce volume. This project will help the group gain additional expertise to further expand its business in the future.

In the "BLUE ACTION 2035" management plan, the MOL Group is working to diversify its business portfolio by increasing the weight of non-shipping, stable revenue businesses that counterbalance the volatile shipping market. The group is also following a regional strategy as a key to expanding its business as a global social infrastructure corporate group by drawing upon its overseas network. Investment in this project will further these aims.

Outline of the Properties
The project encompasses a total of 11 logistics properties (43 buildings) consisting of both existing facilities and newly developed properties. All of them are located in major logistics hubs in various cities in Australia and have excellent floor space and ceiling height specifications. With advanced equipment such as air conditioning and automated refrigeration/freezing systems, etc. installed in many of them, the project partners anticipate stable rental demand.


Property locations.   Image by MOL.

Mitsui O.S.K. Lines, Ltd. press release