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Inside The Life Of Lang Walker

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Making the BRW Rich 200 List in 2016 with billions to his name, Lang Walker is one of Australia’s biggest property developers.

In the late 1960’s A&L Walker Pty Limited was established in NSW by Lang Walker and his father, Alex, as an earth moving and excavation contractor to deliver foundation materials for major infrastructure works. Walker and his business then moved into small-scale development starting with small housing lots. The venture proved successful and attracted first time homebuyers to purchase lots at three times their original worth.

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Early beginningsIn 1972 Walker successfully established The Walker Group, and throughout this decade until the late 1980s Walker and his company grew to become involved with development projects in the industrial, commercial, and residential sectors, together with civil engineering projects in Sydney, Melbourne and Brisbane.

In 1999, Walker decided to sell his shareholding in Walker Corporation Limited to Australand Holdings Limited and concentrate on running his private development company McRoss Developments Pty Ltd. Little did he know that the move saved him from taking a tumble during the dot com bust the next year. He then reserved the rights to re-use the Walker Corporation name after January 2003. McRoss Developments Pty Ltd was re-badged as Walker Corporation Pty Ltd.

In 2006 Walker as Executive Chairman, announced that the group would continue to develop its range of more than 20 projects across residential, retail, commercial and industrial sectors. He then sold about $1.25 billion in selected assets to Mirvac and other parties. This was yet another situation where a strategic sale would keep Walker’s head well above water. Shortly after the transaction the world suffered through the GFC, and Walker and his company were financially unscathed.

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Walker’s life in the development industry has seen him help deliver over 1,000 projects, with 240 of those projects being delivered in the past 10 years alone.

Lang’s biography also includes charity work via his contributions to the Children’s hospital at Westmead and the Property Industry Foundation.

Earlier this year (2015) he was awarded an Order of Australia Officer (AO) for his varied and continual philanthropic efforts.

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Article originally posted at: https://theurbandeveloper.com/articles/inside-the-story-of-lang-walker