$150 million prefabricated housing facility proposed
A new prefabricated housing venture plans to invest about $150 million in an Australian manufacturing facility with capacity for up to 3,000 homes a year.
On 28 August 2026, Syncorana Group and Bosnia and Herzegovina-based Steco Centar signed a joint venture agreement to establish Steco (Australia) Pty Ltd. The new company is intended to manufacture and supply prefabricated homes across Australia and Oceania.
The partners plan a local manufacturing operation that uses European technology adapted to Australian standards and market requirements. They also want the project to create skilled jobs and strengthen sovereign manufacturing capability.
Target markets include residential housing, Indigenous affordable and social housing, aged care centres, early childhood learning facilities, workforce accommodation and commercial developments.
Training centre targets skilled jobs
The venture also includes a customised training facility through Syncorana’s registered training organisation, Living Planit/Dreamtime Institute of Training and Management. The group aims to build it into a national centre of excellence for prefabricated construction and advanced manufacturing.
That training program is designed to create pathways for Aboriginal and Torres Strait Islander peoples, apprentices, veterans and school leavers. It also targets workers moving into modern building methods and advanced manufacturing roles.
Steco brings 30 years of experience in the design and manufacture of prefabricated housing systems. Meanwhile, Syncorana brings its housing, building and workforce training strategy, including a focus on Indigenous economic development.
Chief executive and managing director Carlton Taya said Australia faced a major housing supply challenge. He said the joint venture aimed to build advanced manufacturing capability that could deliver prefabricated housing faster and at scale.
Steco chairman Milenko Stevanović said the Australian partnership would include a dedicated training centre. He said Steco wanted to transfer its engineering knowledge and manufacturing systems to Australian workers.
According to the companies, the initiative is intended to address housing supply pressures while increasing Indigenous participation in the construction and manufacturing sectors. However, Syncorana and Steco did not identify a site for the proposed facility or provide a construction timetable.
