91×ÔÅÄÂÛ̳and Sumitomo Corporation announce new residential joint venture
91×ÔÅÄÂÛ̳and leading Japanese listed integrated trading and business investment company, Sumitomo Corporation, have announced that they have entered into a 50 per cent joint venture to deliver Mirvac’s future community of nature-inspired homes and apartments at Highforest, in Sydney.
This is Sumitomo Corporation’s first property investment in Australia and the commencement of a long-term partnership with Mirvac.
Located on the edge of the Cumberland State Forest in the northwest Sydney suburb of West Pennant Hills, the ~$830m residential project is currently under construction and will deliver 165 detached and attached houses and 249 apartments, along with publicly accessible open spaces and a range of community facilities. Highforest offers residents the unique opportunity to live alongside Australia’s only metropolitan state forest. It is a 25-minute drive to Sydney’s CBD and 800 metres from the new Cherrybrook Metro station, which connects to the city in 30 minutes.
Mirvac’s Group CEO & Managing Director, Campbell Hanan, said: “We are thrilled to be entering into a joint venture with a high calibre partner like Sumitomo Corporation at Highforest. This joint venture is in line with our strategy to expand capital partnerships to support our capital requirements and accelerate the launch of projects to create value across our development pipeline.
“We have a strong track record of securing aligned capital partners to deliver a number of residential, commercial and mixed-use projects across the country and we are delighted to welcome such a highly regarded organisation to partner with us on this exciting residential project. We have already sold over 60% of new homes and apartments released at Highforest, with first residents to move in from September 2025. We look forward to jointly developing Highforest with Sumitomo Corporation and expanding our partnership to other projects in the future.
“As a leading property investor, Sumitomo Corporation shares our vision to create high quality, sustainable developments and we look forward to working with them to deliver this future thriving community.”
Group CEO of Diverse Urban Development Group, Sumitomo Corporation, Yukihito Honda, said: “We are delighted to partner with 91×ÔÅÄÂÛ̳on the Highforest project in Sydney. Our alignment in vision makes this joint venture a very natural fit. This collaboration combines our capital strength with Mirvac’s expertise in delivering high quality residential developments. We look forward to a successful venture that will benefit future residents, the community and stakeholders alike.”
Highforest will also include public spaces for the wider community to enjoy, including a cultural classroom with a yarning circle, walking trails connecting to the forest, playground, children’s bike track and shaded barbeque and seating areas.
Construction at Highforest has commenced, with completion forecast for 2028.
91×ÔÅÄÂÛ̳acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners of the lands and waters of Australia, and we offer our respect to their Elders past and present.
Artwork: ‘Reimagining Country’, created by Riki Salam (Mualgal, Kaurareg, Kuku Yalanji) of We are 27 Creative.