A new advanced manufacturing project, Built Living, located north of Perth, is expected to build 2,000 apartments a year once fully operational. The project, valued at $240 million, aims to deliver apartments up to 20% cheaper and 50% faster than traditional construction methods.
The National Reconstruction Fund will invest $120 million into the initiative. Further funding includes a $20 million grant from the Western Australian government and a $100 million equity investment from Wesfarmers, which owns retail brands such as Kmart and Bunnings.
The project is scheduled to commence before the end of the year. Federal industry minister Tim Ayres stated that the project will integrate advanced manufacturing into the housing supply chain, aiming to increase productivity and provide more homes for Australians.