The National Reconstruction Fund Corporation (NRFC) is investing $120 million in debt in Built Living to support the development of an advanced manufacturing facility aimed at increasing Australia’s housing supply.
Built Living, a 50:50 joint venture between Australian contractor and property group Built and Wesfarmers, was established earlier this year to deliver residential apartments using advanced manufacturing techniques.
The venture uses Design for Manufacture and Assembly (DfMA), along with modular and precast concrete components, to manufacture parts of mid- to high-rise apartments. Built Living expects the approach could deliver apartments up to 20 per cent cheaper and up to 50 per cent faster than traditional construction.
NRFC CEO David Gall said the investment would strengthen the construction sector’s advanced manufacturing capabilities while supporting housing delivery.
“Australia’s urgent need to increase the supply of new homes is well documented and housing is a government priority,” Gall said.
“Our investment in Built Living strengthens the construction industry’s advanced manufacturing capabilities while providing a model for how affordable housing can be built at scale.”
The NRFC funding will support the establishment of a pilot advanced manufacturing facility at Neerabup in Western Australia, with construction expected to begin in the second half of 2026. The facility is planned to have capacity to produce more than 2,000 apartments a year.
Gall said the investment would help shift apartment construction towards a more manufacturing-based model through greater use of digitisation and automation.
Built Living CEO Dale Connor said modern construction methods could provide a practical response to housing supply challenges.
“Investing in modern methods of construction is a practical way to address Australia’s housing challenge,” Connor said.
The Neerabup facility is expected to create about 150 jobs during construction and around 150 ongoing direct and indirect roles once operational. The project will also support training and upskilling in advanced manufacturing, robotics and automation.
Wesfarmers announced a $100 million equity investment in Built Living in May, while the Western Australian Government is providing land and a $20 million grant for the pilot facility. Property developer Adrian Fini has also taken a direct equity interest in the facility.
The NRFC said its initial investment is expected to facilitate broader private sector investment in Built Living’s housing manufacturing model, subject to customary transaction conditions.
The NRFC is the Australian Government’s sovereign investor in manufacturing capability, with $15 billion available for investment through loans, equity investments and loan guarantees across seven priority areas.
