The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
88
print
Print
OtherEditorial DeskFri 26 Oct 18

2018 AFR Young Rich List: Top 5 Property Players

4585c2b5-8742-4199-bf15-5221ac3076dc

The 2018 young rich list has been released, featuring 100 of Australia's wealthiest young entrepreneurs.

Australia’s top 100 wealthiest citizens aged 40 and under are worth a record $23.5 billion, with top earners, Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar, contributing $7.1 billion, smashing the previous young rich list wealth record of $6.08 billion, which they held.

The list, compiled and published annually by the Australian Financial Review, has again been dominated by the technology industry, with the average age of rich listers sitting at 35.

Just ten women made the cut on the 2018 list, one up from the nine that made the 2017 list and eight in 2016, indicating a continuing trend and a noticeable gap in the number of mega-wealthy Australians.

Property players continue to feature in the rankings with Melbourne property developer Tim Gurner climbing into third spot on this year's young rich list.

Take a look at the five highest ranking property moguls from this year's list.

Related: 2018 Rich List: Top 10 Property Players


3rd

Tim
Gurner

$631m

36 years old



Melbourne-based property developer Tim Gurner has seen his wealth increase by 36 per cent in the last year, thanks to several high-profile acquisitions.

Gurner pushed his combined project value to more than $5 billion with close to 7,000 dwellings across 19 buildings in Victoria, New South Wales and Queensland.

Earlier this year Gurner inked a deal with Greg Shand’s Barana Group to redevelop the Novotel hotel in St Kilda into a $550 million luxury residential precinct.

Gurner also received approval for a $350 million mixed-use Wellington Street project, after a lengthy mediation and redesign process.


23rd

Andrew
Welsh

$121m

35 years old



Former Essendon vice-captain Andrew Welsh has amassed a post-footy war chest through a number of greenfield developments on the fringes of Melbourne.

When Welsh Developments completes its current projects, it will have sold 6500 residential lots and contributed significantly to some newly established suburbs in and around Melton.

His company has branched out to home building and this year launches Welsh Urban Living, which focuses on medium-density housing in land estates.


34th

Marwan
Rahme

$70m

38 years old



Marwan Rahme has completed close to half a billion dollars worth of deals since turning a small-time renovation job into a property empire.

The Lebanese immigrant used savings from his gap year spent stacking shelves to kickstart Kanebridge, a home renovation business.

The company has expanded into other associated advisory services including finance, wealth advisory, property and capital sourcing.

Kanebridge's latest project at Marsden Central, in Sydney's west, is leveraging technology to sell apartments in a new masterplanned community.


37th

Dean
Willemsen

$65m

33 years old



A true entrepreneur, Dean sought out odd jobs in his community to buy his first motorbike when he was 10, established a thriving garden nursery business at 15, and bought his first house at 21.

The trained carpenter co-founded construction group Prime Build, which has gone on to win contracts with Kmart, Aldi and Myer.

Willemsen founded end-to-end property developer Clearstate in 2011, undertaking projects from 20- to 200-lot subdivisions.

Dean was invited to join the CEO Institute when he was 28 and was nominated for the EY Entrepreneur of the Year Award at 29 years old.


44th

Robert
Rowe

$60m

37 years old



Robert Rowe began his property journey working for his father’s general contracting business at the age of 16, specialising in shop-fitting.

In 2004, aged 24 and armed with $64 in savings and an old laptop, Rowe started his own business, Unita.

Unita today has 10 companies under its umbrella, ranging from steel and joinery manufacturing, design and construction arms to a full-scale digital marketing business and a software firm.

The company has fit out more than 5,000 retail stores, including British brand Mulberry’s first Australian store, and also works with hotels, gyms and corporates.


OtherRetailResidentialHotelAustraliaOther
AUTHOR
Editorial Desk
More articles by this author
ADVERTISEMENT
TOP STORIES
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
Residential

Home Affordability Gap Widens Across Asia-Pacific

Lindsay Saunders
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
The 510-apartment Triniti Lighthouse development has received conditional planning approval despite community objections…
LATEST
Residential

Home Affordability Gap Widens Across Asia-Pacific

Lindsay Saunders
3 Min
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
2 Min
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/rich-list