Construcciones Yamaro: Kapitol and ICD Property back volumetric modular construction

Kapitol’s investment includes prototype construction. (Images: Kapitol and ICD Property)

Kapitol and ICD Property have formed a $10 million volumetric modular construction partnership with Chinese manufacturer CIMC Modular Building Systems.

The two Australian companies have each invested $5 million into the venture, which will draw on established offshore manufacturing capacity while supporting the development of local modular capability.

Kapitol’s investment covers staff, systems and processes, product development and prototype construction, while ICD Property has invested in prototype procurement and the development of its modular business. Both companies have self-funded their investments.

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The partnership will target large mid-rise and high-rise build-to-rent developments, purpose-built student accommodation (PBSA), hotels, and social and affordable housing. The companies said the model would allow them to deliver up to 10,000 units per year

The first project planned under the partnership is a 161-room PBSA development at 1494–1496 North Road in Clayton, Victoria. ICD Property will develop the site, with Kapitol engaged to deliver the $50 million project. Construction is expected to begin on site in early 2027.

The partnership follows 12 months of feasibility work undertaken by Kapitol and ICD Property with input from trades. More than $3 billion worth of potential developments across Queensland, New South Wales, Victoria and Western Australia were assessed during the process.

According to the companies, the feasibility studies modelled construction program reductions of up to 40 per cent compared with traditional construction methods, reductions of up to 50 per cent in on-site labour costs, and 50 to 70 per cent fewer defects.

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