Daibiru Corp. agreed to acquire an office development in Sydney's central business district that will be the first Australian project for the Japan-based company.

Daibiru was recently reported to be in the running to partner with John Holland Group as co-investor in the A$220 million project at 275 George St.

Daibiru said it will acquire the land from John Holland, which will develop the office and retail building with a net leasable area of 7,274 square meters. The property will have 15 above-ground floors and three basement floors. The company said it plans to achieve the Green Star and National Australian Built Environment Rating System Energy environmental performance certification for the project. Completion is expected in June 2020.