Chapter 5 Transformation
2004
2023
Section 3. Overseas Business Expansion
2. Business Expansion in Australia
Under Design 100 Project Phase II, the medium-term management plan that started in fiscal 2018, a total of 120 billion yen were to be invested over five years, and 40 billion yen of that was to be allocated to overseas projects. On that bases, Daibiru went ahead with a project focused on Sydney Australia, where the real estate market was transparent and highly liquid, and where stable population growth and economic growth were expected in the future. In August 2018, the company signed an agreement with the John Holland Group (JHG), a major general contractor in Australia, regarding a project to develop an office building (275 George Street) in Sydney’s central business district (CBD). The plan was to acquire land from JHG and outsource office building development operations in that district to JHG. The office building to be acquired was a high-quality building near Wynyard Station, one of the main train stations in the Sydney CBD. A light rail line (tram line) through the Sydney CBD running along George Street was under construction, and a variety of redevelopment projects were planned for the vicinity, all of which showed great promise for the future. Daibiru’s partner JHG had more than 65 years of experience and was one of Australia’s top general contractors, ranked fourth in terms of non-residential construction contracts.
Construction got underway in June 2019, and although the project suffered from the impacts of forest fire smoke and the COVID-19 pandemic, which occurred while construction was in progress, it was successfully completed in December 2020.
The exterior, which features local Sydney sandstone combined with glass, blends in with Sydney’s mix of historical structures and modern office buildings, yet it presents a striking image. The rental offices are column-free spaces, open and flooded with natural light from three directions—east, west, and north. The topmost 15th floor has a terrace and mezzanine overlooking the landmark Sydney Harbour Bridge.
The building has been certified by two of Australia’s top building environmental performance certification indices (both of which use a six-point scale). It received a five-star rating from Green Star (based on design and specifications) at the time of its completion, and in August 2022, it received a five-star (Australian excellence) rating from the Design & As Built rating system, which evaluates buildings on the basis of construction specifications. Daibiru also aims to obtain a five-star rating from NABERS Energy (based on actual operation over the span of one year), which is concerned with energy efficiency.
The entire building is managed by Daibiru Australia Pty Ltd (DAU), a local subsidiary established in December 2019 in order to accumulate building operation expertise in Australia. Sydney is our third overseas location for business centers, following Ho Chi Minh City and Hanoi in Vietnam.
| Property overview | 275 George Street |
|---|---|
| Address | 275 George Street, Sydney, NSW, Australia |
| Date of completion | December 2020 |
| Size | 15 aboveground floors, three underground floors |
| Site area | 634 m2 |
| Total floor area | 7,298 m2 |
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1923 1944 Beginnings
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Section 2. Launching a Building Management Business
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Section 4. Business Development in Wartime
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1945 1957 Reconstruction
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Section 2. Our Buildings Reopen
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1958 1988 Development
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Section 1. Expanding the Building Management Business
- 1. The End of the Requisition of the Hibiya Daibiru Buildings
- 2. Upgrading the Facilities of the Daibiru Buildings and Damage Caused by the 2nd Muroto Typhoon
- 3. The Completion of the North Wing of the Shin-Daibiru Building
- 4. The Completion of the Yaesu Daibiru Building
- 5. The Acquisition of the Midosuji Daibiru Building
- 6. The Completion of the Kojimachi Daibiru Building
- 7. The Completion of the Uchisaiwaicho Daibiru Building
- 8. The Completion of the Dojima Daibiru Building
- 9. The Completion of the Awajimachi Daibiru Building
- 10. The Completion of the Mita-Nitto Daibiru Building
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Section 2. Expanding the Business Through M&A
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1989 2003 Expansion (1989–2003)
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Section 1. Creating New Urban Spaces
- 1. The Bubble Economy and Daibiru
- 2. The Hibiya Daibiru Rebuilding Project
- 3. The Completion of the Rebuild
- 4. The Start and Execution of Renovation Plans
- 5. The Completion of the Kita-Umeda Daibiru Building
- 6. The Completion of the Yodoyabashi Daibiru Building
- 7. The Completion of the Estate Tosabori Building
- 8. The Completion of the Umeda Daibiru Building
- 9. The Completion of Violette Takarazuka
- 10. The Shinjuku Daibiru Building and Shiba Daibiru Building Acquisitions
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Section 2. The Development of a New Corporate Identity and a Name Change
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Section 3. Disaster Preparedness and Risk Management
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2004 2023 Transformation (2004–2023)
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Section 1. Becoming a Consolidated Subsidiary of Mitsui O.S.K. Lines and Promoting Management Plans
- 1. Becoming a Consolidated Subsidiary of Mitsui O.S.K. Lines
- 2. Concentrating Investment in the Tokyo Area
- 3. Expanding into Other Countries and Japanese Regions
- 4. Establishing Daibiru 3D-Project Phase I, a Medium-Term Management Plan
- 5. Establishing Our Management Philosophy and Mission Statement
- 6. Establishing Daibiru-3D Project Phase II, a New Medium-Term Management Plan
- 7. Ongoing Establishment of New Medium-Term Management Plans
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Section 2. Expanding Our Business
- 1. The Akihabara Station Redevelopment Project and the Completion of the Akihabara Daibiru Building
- 2. The Acquisition of the Toranomon Daibiru Building
- 3. The 3 Nakanoshima Joint Development Project and the Completion of the Nakanoshima Daibiru Building
- 4. The Completion of the Tosabori Daibiru Building
- 5. The Acquisition of Aoyama Rise Square
- 6. The 3 Nakanoshima Joint Development Project and the Completion of the Daibiru-Honkan Building
- 7. Rebuilding the Shin-Daibiru Building
- 8. Renovation Work
- 9. Multiple Awards
- 10. Delving into Commercial Facilities
- 11. Acquiring a Partial Interest in the Seavans South Building
- 12. Expansion to Sapporo
- 13. Selling Seven Residential Properties
- 14. Starting the Rebuild of the Midosuji Daibiru Building
- 15. Starting the Rebuild of the Yaesu Daibiru Building
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Section 3. Overseas Business Expansion
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Section 4. Further Strengthening of the Corporate Structure and Group Reorganization
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Section 5. Harmonious Coexistence with Society
- 1. Developing a Compliance System
- 2. Developing an Internal Control System
- 3. Risk Management Measures
- 4. Sustainability Initiatives
- 5. Social Contribution and Cultural Support Initiatives
- 6. Environmental Initiatives
- 7. Working Style Reform Initiatives
- 8. Launching the Brand Development Project
- 9. Launching the Head Office Renovation Project
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Section 6. Toward Our 100th Anniversary and Beyond
- 1. Becoming a Full Subsidiary of Mitsui O.S.K. Lines
- 2. Acquiring a Partial Interest in Otemachi First Square
- 3. Acquiring a Partial Interest in the Otemon Tower / ENEOS Building
- 4. Investment in an SPC for Logistics Facilities in the Nishinomiya Area
- 5. Project Participation in the United States
- 6. Project Development in Melbourne, Australia
- 7. Formulation of a New Medium- and Long-Term Management Plan
- 8. Implementing 100th Anniversary Projects
- 9. For Future Generations
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