Amazon is buying up properties in Australia, Brazil, Canada and New Zealand.
It’s the second time in less than a year that Amazon has gone after Australian property.
The first time was when the company bought the iconic shopping mall at Marrickville in the NSW state of Victoria for $1.2 billion.
“I don’t think you can really do that for a country like Australia, but there is a great deal of investment potential there,” Amazon’s CEO Jeff Bezos told The Sunday Telegraph.
The company’s investment in Australia has been largely symbolic.
It hasn’t yet acquired a single property, but Amazon has been buying up land in Australia.
The firm is the largest foreign investor in Australia’s property market, with an estimated $12 billion in foreign investment for 2016.
The move comes after Amazon invested $1 billion in the construction of a $10 billion campus in the Melbourne suburb of Port Augusta.
The building will be built on top of a new high-rise complex which will house Amazon’s first big retail centre.
It will also include offices for its new data centre in the city.
The decision to buy the property comes as Amazon is facing stiff competition from rival retailer Amazon.com, which has been investing heavily in building new warehouses and building the internet giant’s own data centres.
Amazon’s investment has sparked fierce criticism from opposition parties, who say the Australian property market is not competitive enough.
“It is time to bring Amazon to the Australian market,” Liberal leader Bill Shorten said on Wednesday.
“The people of Australia deserve better than Amazon to make sure that their money is going where it is needed.”
Prime Minister Malcolm Turnbull has also been critical of Amazon, saying that the company’s decision to invest in Australia is a sign that it’s willing to give up on its Australian competitors.