Japanese construction leader, Kajima Corp. announced on March 12 that it launched a subsidiary in Melbourne, Australia and acquired a Richmond, Victoria-based residential contractor and developer, Icon. As the country is expected to see stable economic growth underpinned by population increase, Kajima is looking to winning orders of large-scaled offices and shopping centers by taking advantages of Icon’s networks in Australia’s urban regions.

Icon was founded in 1997 and has been a major player in construction and development in such cities as Melbourne, Sydney and Brisbane. Its revenue is estimated to reach 50 billion yen in fiscal 2015.

The subsidiary, Kajima Australia was established on February 20. Kajima and Icon together will establish solid business foundation in the country and seek broader opportunities in the industry. (2015/03/12)