Credit Lyonnais Securities Asia (CLSA) recently released a report which states Australia’s housing cycle has peaked and new construction will decline over the next two years, leading to a crash in prices and a possible recession.
The report predicts the ‘crisis’ will start with cheap apartments and is likely to lead to defaults among small developers and a decline in construction. Its forecast says small developers will go into receivership from struggling to achieve reasonable levels of settlement.
But Jian Qiu Zhang, Founder and CEO of JQZ remains unconcerned. This Sydney-based developer has quietly delivered over 10 residential projects in the last six years. With approximately 2,000 apartments currently under construction and several new large-scale developments featuring another 3,000 apartments about to emerge from the pipeline - one of which will be announced over the coming weeks - the company is not concerned about an impending recession.
Arriving from China in 2010, he delivered his first project in Parramatta under the name of Tong Group. Consisting of 47 apartments, the success of this inaugural project cemented his future in the property industry. In 2012, Jian changed the company name to JQZ, after his initials, and led the company with a strict dedication to quality, safety and family ethics.
JQZ now has current projects under construction valued at over $1.5 billion, with the largest being the stage 1 release of ‘Grand Central’ in Homebush with 430 apartments and 1,800 square metres of retail.
JQZ's 'Grand Central’ in HomebushBut Zhang has never considered that growing success should mean getting complacent. He says JQZ is still committed to delivering quality by embracing changes and advancements in the property industry and thriving on innovation, continuous improvement and best building practices.
"Our business is founded on quality, experience and trust, with a view to providing buyers with properties which are perfect for their needs in every way.
"Quality products will always sell, even in a recession, and that’s all we deliver. Our repeat buyers know they can rely on us for quality in each aspect of every development. We have the satisfaction of our buyers in mind throughout the entire production process from day one.
"This consideration applies to everything including design, finishes, location and access to infrastructure. We also set the benchmark for apartments in every area we build in."
JQZ's 'Grand Central’ in Homebush“We have grown substantially, and continue to grow," Zhang says, "but quality, trust and humility will never be compromised in the name of profit.
"Our vision is to create long-term relationships with our clients and we rely on their repeat business.
"We achieve this through meticulous attention to detail, a dedication to excellence in every facet of our process, and careful planning in order to meet each and every individual’s requirements."“We’ve grown to become one of New South Wales’ most prestigious Australian-Chinese based developers, which also specialises in construction, by delivering on time and quickly, building trust, choosing the best locations and knowing exactly what our clients want. Our key personnel have extensive local experience in a wide range of large-scale residential, commercial and retail projects," says Zhang.
This commitment to quality is exemplified by the establishment of their own in-house building service, which is dedicated to constructing only JQZ projects. This unusual integration ensures strict quality control is maintained by construction staff who have worked for other top tier construction companies for many years.
Despite coming from humble beginnings, Jian Qiu Zhang and JQZ is now positioned to undertake multiple large-scale developments simultaneously, but Zhang still diligently maintains the important family values he instills in his company.