Jul 28, 2026 – 6.00pmBuild-to-rent developer Novus has won the backing of a South Korean investment consortium including a subsidiary of car-making giant Hyundai for a $340 million housing project on Sydney’s lower north shore, marking the group’s first move into the Australian market.The heavyweight consortium comprises Korea Investment Real Asset Management (KIRA), which is an arm of one of South Korea’s biggest financial services firms; Hyundai Engineering and Construction – part of the mammoth Hyundai Motor Group; and the Korea Overseas Infrastructure and Urban Development Corporation, a state-backed entity.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles