The 2016 BRW 200 Rich List should serve as inspiration to all property investors across Australia.
Released last week, more than a quarter of this year’s list was made of individuals whose wealth was accumulated through property, particularly Meriton Group Owner Harry Triguboff who surged ahead of the number two place by a huge gap of $2.86bn to claim the top spot with a reported personal wealth of $10.62bn.
Below we've compiled the list of property magnates featured in BRW's Rich 200 List.
#1 (BRW #1) Harry Triguboff AO | $10.62bn (above)
Managing director, Meriton
'High-rise Harry' is famously averse to taking on bank debt, and has been a member of every Rich 200 list since its inception in 1983 with no signs of slowing as Sydney's property market dominates. Already the biggest apartment developer around, his Meriton Group has plans to build 5500 more units and keeps buying sites. He's rejected a steady stream of offers from those wanting to buy either whole or part of Meriton.
Frank Lowy is set to step down as chairman of Australian shopping mall giant Scentre in May 2016; he remains chairman of Westfield Corp. Sons Steven and Peter are joint CEOs of Westfield, which in 2014 demerged from the Australian mall business cofounded by Lowy 60 years ago in Sydney. Lowy stepped down as chairman of Australia's national soccer association, Football Federation Australia, in November 2015; son Steven replaced him.
Principal, Gandel Group
The solid performance of his Chadstone Shopping Centre in Melbourne the largest in the southern hemisphere has cemented Gandel's place on the Rich List. Chadstone, which Gandel jointly owns with listed Vicinity Centres, reportedly became the first Australian shopping centre to deliver a moving annual turnover of more than $1 billion.
Chairman, Shimao Property
Hui Wing Mau, the son of a doctor, was born in China's Fujian Province in 1950. After working at a state-run company in the late 1980s, he became a trader and built a fortune in textiles. He eventually began investing in real estate in Hong Kong and later back home in mainland China. Today he controls 2 publicly listed companies: flagship Shimao Property Holdings, of which son Jason is vice chairman, and Shanghai Shimao, a commercial property developer led by his daughter, Carol.
Founder & Chairman, The Perron Group
Starting his career running a fleet of taxis in Perth, Perron went on the invest just £500 in the Pilbara with Lang Hancock and Peter Wright, entitling him to 15% of any future royalties. His own Perron Investments now holds the bulk of his fortune, and has a half-share in three of Federation’s trophy malls.
Co-founder & CEO, Walker Corporation
Walker and his father began the business in the late 1960s as a plant hire and earth moving contractor. After moving into property, The Walker Group undertook the development of a number of small office buildings and lower-density residential projects throughout southern Sydney. After becoming The Walker Corporation Pty Limited the business expanded significantly, beginning to develop larger residential and industrial projects in Brisbane, Melbourne and Sydney. The developer is selling the $1.8 billion Collins Square project in Melbourne’s Docklands commercial precinct, with hopes to settle midyear.
Head of Unison Projects, Super A-Mart founder
When Anna and Karel Van Lieshout arrived at Brisbane’s Wacol Migrant Camp in 1960 with their 12 children in tow, they had little money but big dreams.
More than half a century later, the Van Lieshout clan is one of the state’s most successful business families. Dubbed the “kings and queens of furniture” they have between them founded a suite of well-known furniture stores including Empire Office Furniture, Super A-Mart, BW Coles, Chevron and the Woolstore. They sold the retailer in 2006 but retained the freehold of some stores. John Van Lieshout's wealth is now underpinned by his Unison Projects group - comprising of major house and land development- plus a large property portfolio, including shopping malls and offices.
Founder, Pacific Group
Maurice Alter founded property giant Pacific Group in 1979, with his son Sam now running the business. In the 1950s Alter began investing in commercial estate in Melbourne’s eastern suburbs, eventually developing a number of shopping centres. With investments primarily across Victoria and South Australia, Pacific Group have invested an estimated $400 million towards the major renovations in Werribee Plaza and Pacific Epping in Melbourne.
Founder, Director & Chairman, Super Ocean Group
Super Ocean Group operates as a property developer in Shanghai and Beijing. Its portfolio includes residential projects, office buildings, and other commercial properties. The company was founded in 1993 and is based in Shanghai, China.
Managing director Greenfield Residential Developments; Owners, Leppington Pastoral
Brothers Tony & Ron Perich share fortune, which is up slightly thanks to increased property values in western Sydney, where their Greenfields property development company is selling more than 12,000 housing lots. Started out with a dairy business; the family's Leppington Pastoral now has 2,000 cows on 11,000 hectares of land.