Property developer flat out to build in city (Sydney)

[geoffw]

from smh (http://www.smh.com.au/articles/2004/10/22/1098316865859.html)Apartment oversupply in the city centre? Forget it, says Harry Triguboff, of Meriton Apartments.

The pundits might have been saying for the past couple of years that the city is awash with apartments but, according to Mr Triguboff, there is not oversupply problem and there never was.

On the contrary, there is an undersupply, and he says he has the numbers to prove it...

[kph]

Great article Geoff,
Good to see someone going against the flow...

[likewow]

Great article Geoff,
Good to see someone going against the flow...

Hes not going against the flow, hes just stating whatever is in his self interest. And like real esate agents, talking up the market is in his self interest. He's a wily old bugger is Harry.

[Peter 14.7]

Agree, Harry is HUGE

He is a billionare! Owns developement sites that are essentially mini suburbs of land in Alexandria (south CBD)

The timeframe to bring these on line is years so effectively any recession /downturn to him is simply normal operations.

Peter 147

[Aceyducey]

Yeah - Meriton essentially IS the market, so he cannot go against it :)

If he mothballs a project for a few years it's manageable within his portfolio.

Makes sense for him to talk up the market rather than talk it down - he has stock to move!

Cheers,

Aceyducey

[XBenX]

Hes not going against the flow, hes just stating whatever is in his self interest. And like real esate agents, talking up the market is in his self interest. He's a wily old bugger is Harry.

Agree 100%

This is the guy that retains a controlling interest of body corporates throughout the builders warranty period.