Triguboff on building the future
Meriton chief Harry Triguboff talked developing and building at an Australia-Israel Chamber of Commerce luncheon in Sydney this week.
Harry Triguboff Photo: Ingrid Shakenovsky
When asked by moderator Channel 9’s Ross Greenwood as to the one thing has changed dramatically in the 55 years he had been in the industry, Triguboff said “It takes so long to get approval from councils.” He added that the building process is much quicker today and uses less people.
On the subject of financing the projects Triguboff said big developers have to be careful who they borrow from. “It’s not just a matter of how good you are but how good is the lender?” He said that it was very important to communicate with the banks and to let them know your problems as well as your successes.
Triguboff said most of his buyers are Chinese and that demand is greater then “ever before” and that the Chinese market is very happy with the “way we build”.
Taking housing requirements into the future, Triguboff said that today’s units had been planned for the younger generation expecting only to have a couple of people living in them. But the cost of living today had created a situation where frequently five or more people were living in an apartment designed for two. He added that this was creating a demand fro smaller bachelor one bed-roomed apartments which are obviously cheaper and more affordable for those who do not want to share.
According to Triguboff, Meriton is expanding its arena of operations as more regional centres develop CBD identities and offer serious employment opportunities creating a demand for housing as people want to live near to their work. Other changes from the past are the disappearance of the three storey walk-up apartments which now have lifts and air-conditioning is now everywhere. He said: “These things are very important. And we add swimming pools and nice gardens. People want value”.
Triguboff said that local government should work together with develops and that approvals often come through because of the revenue they will generate for government. He said” We need to work together.” He cited cases where councils had been working against him.
Speaking on the current situation in Europe, Triguboff said: “More people will becoming to live in this country. The population will go through. There is no doubt about it. I am ready for it. Our serviced apartment business is very successful. It will be a big growth industry.”
More than 750 guests attended the luncheon at Sydney’s Westin Hotel.
Hah! Your “tag” says “Harry Trigubogg” – is this an official name change?