KI-Star Real Estate Secures Residential Development Site for About 128 Lots in Victoria, Australia
KI-Star Real Estate’s Australian joint venture MunCorp has secured a new residential development site for approximately 128 lots in the Warragul area of Victoria, southeast of central Melbourne. The project is intended for residential land subdivision, with a total site area of approximately 77,000 sq m (approx. 828,821 sq. ft.).
The development site is located in Baw Baw Shire and is surrounded by retail and educational amenities. MunCorp plans to supply affordably priced designer homes targeting a broad range of customers, including first-home buyers, downsizers and investors.
MunCorp was established in May 2023 as a joint venture between KI-Star Real Estate Australia (KAU), KI-Star Real Estate’s Australian subsidiary, and Munjak. KAU holds a 49.9% stake and Munjak holds a 50.1% stake. The company develops townhouses and land projects in Victoria. KI-Star Real Estate is a residential developer listed on the Tokyo Stock Exchange Prime Market. For the fiscal year ended March 2025, the company posted revenue of JPY 342.5 billion and sold 9,125 homes annually, including land.
Key Facts
Developer: MunCorp Pty Ltd
Ownership Structure: KI-Star Real Estate Australia Pty Ltd 49.9% / Munjak Pty Ltd 50.1%
Location: Warragul area, Victoria, Australia, within Baw Baw Shire
Use: Residential land subdivision
Total Site Area: Approximately 77,000 sq m (approx. 828,821 sq. ft.)
Total Lots for Sale: Approximately 128 lots planned