The consortium, which comprises Korea Investment Real Asset (KIRA), Hyundai Engineering & Construction (Hyundai E&C) and the Korea Overseas Infrastructure & Urban Development Corporation (KIND), is investing through a development joint venture known as “The Victoria Delivery Joint Venture.” 

Working alongside Ernst & Young (EY) Korea, Colin Biggers & Paisley advised on the Australian tax aspects of the project, including the development of the tax structuring approach and the tax treatment of the joint venture arrangements, supporting the consortium's entry into the Australian BTR market. 

Having received State Significant Development Approval in March 2026, the estimated $340 million deal marks the consortium's first platform investment in Australia and entry into the Australian BTR sector, underscoring growing international confidence in the market and supporting the delivery of new housing in one of Sydney's key metropolitan centres. The project is expected to commence construction in early 2027. 

Dr Andrew Murray, Managing Partner, Colin Biggers & Paisley said: "This is another excellent example of the impactful work our corporate advisory team is delivering, supporting clients on investments that help shape Australia's future communities." 

The Colin Biggers & Paisley team was led by Jon Meadmore, Partner, Corporate & Commercial and Amy Liu, Special Counsel, Corporate & Commercial. 

For more information, please contact Alison Packer, Head of Brand & Communications on 07 3002 5100 or alison.packer@cbp.com.au.