Japanese Property Giant Enters Strategic Partnership with McNab and Ray White Capital in Landmark Gold Coast Development

Japanese real estate powerhouse Mitsubishi Estate Asia Pte.Ltd. (MEA) has entered into a strategic funding partnership with Queensland-based McNab Group and Sydney-headquartered Ray White Capital to deliver the $175 million Elements Budds Beach — a luxury residential development in the heart of the Gold Coast. 

The joint venture with Mitsubishi Estate for Elements Budds Beach marks the first investment of the RWC McNab Residential Living Development Fund Series I, and sets the foundation for participation in future pipeline projects. The fund was launched in early 2025 to accelerate the delivery of quality apartments in South East Queensland — a response to persistent housing demand and limited builder capacity. Elements Budds Beach marks the flagship project in the fund’s rollout. 

The partnership represents a major milestone for McNab and marks a significant endorsement of its vertically integrated development, construction and building supply model. It also signals increasing international capital confidence in Queensland’s lifestyle-led residential markets. 

Currently under construction, Elements Budds Beach is a 27-storey luxury development featuring 87 premium apartments. The project reflects strong demand for high-quality apartment living on the Gold Coast and marks MEA’s first residential investment in the Gold Coast — a key milestone in the ongoing expansion of its Australian portfolio. 

McNab Founder and Executive Chairman Michael McNab said the partnership reflects growing confidence from institutional capital in South East Queensland’s property market, and highlights the appeal of end-to-end delivery models in an environment of rising construction costs and the need for greater delivery certainty.  

“This partnership brings together international capital, local delivery expertise and a deep understanding of Queensland’s housing market,” Mr McNab said. 

“Beyond affirming our capability, this institutional backing provides a strong platform for continued growth and the accelerated delivery of future projects across Queensland — a valuable advantage as the state experiences sustained interstate migration in the lead-up to the 2032 Olympic and Paralympic Games.”  

“It’s a strong endorsement of our vertically integrated model, which spans acquisition, development, construction, building product supply and in-house trade labour– helping to mitigate delivery risk and offering long-term certainty for our residents.” 

Dan White, Founder and Executive Chairman of Ray White Capital and Managing Director of the Ray White Group, said Elements Budds Beach reflects Ray White Capital’s focus on allocating capital into locations where population growth, infrastructure investment, and design-led living converge.  

“Our well-established partnership with McNab across debt and equity dates back to 2005, and over that time we’ve seen firsthand their ability to consistently deliver high-quality outcomes across a range of market conditions,” Mr White said. 

“This joint venture is the next chapter in that long-standing partnership – built on trust, delivery certainty and shared ambition. As McNab continues to scale its vertically integrated development and construction model, we’re actively looking to support its expansion journey through projects like this one.” 

Yosuke Matsunaga, Executive Director and Head of Australia, MEA, said partnering with McNab and Ray White Capital presents a compelling opportunity to combine institutional investment discipline with local development insight to deliver lasting value in one of Australia’s most promising residential markets. 

“Australia continues to be a key focus in our international strategy, and the Gold Coast represents a dynamic next step in our regional expansion,” Mr. Matsunaga said. 

“We’re committed to investing high quality residential projects in locations underpinned by compelling long-term fundamentals, reflecting both local character and global standards — and this development reflects that vision.” 

“As Mitsubishi Estate continues to expand its investments in Australia, the decision to partner with McNab and Ray White Capital was a natural fit. Their outstanding track record of successful project delivery and strong performance across varied market conditions speaks for itself.” 

The RWC McNab Residential Living Development Fund is underpinned by a strong investment thesis centred on the compelling, long-term fundamentals of Southeast Queensland’s residential market. As the fastest-growing population centre in the country, the region is experiencing surging housing demand and rapid price growth. According to Ray White’s in-house research and analytics platform, Neoval, the Greater Brisbane apartment market has recorded compound price growth of 44% since 2022 — with further upside expected as the 2032 Olympic Games and record employment growth continue to draw people to the Sunshine State. 

Elements Budds Beach is located just minutes from Surfers Paradise, offering both ocean and river views and proximity to key lifestyle amenities, including riverside cafés, shopping malls and public transport. All apartments will be corner residences to maximise views, with high-end shared amenities including a rooftop pool, private dining and gym.  

Just 26 apartments remain, with more than $100 million in sales secured to date and an anticipated completion date in early 2028. 

To learn more about Ray White Capital and its funds www.rwcapital.com.au. 

And McNab and its projects www.mcnab.net.au.