{"id":28726,"date":"2020-11-02T13:15:45","date_gmt":"2020-11-02T00:15:45","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=28726"},"modified":"2020-11-02T13:15:45","modified_gmt":"2020-11-02T00:15:45","slug":"property-developers-and-investors-make-afr-rich-list","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/property-developers-and-investors-make-afr-rich-list\/","title":{"rendered":"Property developers and investors make AFR Rich List"},"content":{"rendered":"

PHOTO: AFR Rich List<\/strong><\/p>\n

Three moguls who have made their fortune in the property game appear in the top 10 of the annual AFR Rich List<\/a>, which was published in full today.<\/strong><\/p>\n

Just under 20 per cent of the full list of 200 made their money through property, with numerous others making their fortunes through property-related businesses, such as construction.<\/p>\n

Hong Kong-based Shimao Property Holdings chairman Hui Wing Mau is fourth on the overall list, after lucrative dealings in China raised his fortune to $18.06 billion.<\/p>\n

Harry Triguboff, founder of apartment developers Meriton is seventh, with $14.42 billion.<\/p>\n

Meriton had a tough year, with the serviced apartment sector disappearing along with the international students that make up a large slice of Meriton occupants, but Mr Triguboff has pivoted to focus on underserved markets that aren\u2019t kept out by border closures.<\/p>\n

Westfield shopping centre tycoon Frank Lowy was ninth, at $8.3 billion, also coming off the back of a tough year, as retail centres were shut down across the country. Mr Lowy\u2019s fortune has fallen by 0.3 per cent in the wake of these closures.<\/p>\n

Elsewhere on the list:<\/h4>\n

#19: Lang Walker ($4.27b)<\/strong>
\nThe Executive Chairman of the Walker Corporation leaned on biotech stocks this year, as he shored up future developments, such as a $3.2 billion Parramatta Square, 14,000 apartments, and 30,000 house-and-land packages.<\/p>\n

#27: Terry Snow ($3.19b)<\/strong>
\nThe founder of Capital Property Finance has a vast property portfolio, which cushioned him from a lack of 2020 business at Canberra Airport, his main asset.<\/p>\n

#29: Betty Klimenko, Monica Weinberg-Saunders and family<\/strong>\u00a0($2.73b)<\/strong>
\nThe daughters of the late John Saunders, co-founder of Westfield, manage his legacy through the Terrace Tower Group.<\/p>\n

#33: Michael Hodgson ($2.33b)<\/strong>
\nHodgson made and lost a fortune through livestock and wool in the late \u201980s and early \u201990s, Hodgson is now a leading industrial landholder in Perth.<\/p>\n

#46: Greg Goodman and family ($2.02b)<\/strong>
\nGoodman\u2019s wealth has leapt from $1.43b due to his Goodman Group being the benefactors of this year\u2019s e-commerce boom, as his warehouses and distribution centres became big business. Owning the Sydney fulfilment centre for Amazon is like printing money.<\/p>\n

READ MORE VIA ELITE AGENT<\/a><\/p>\n

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