For Stockland managing director Tarun Gupta, the entrepreneurial spirit of the founder, Ervin Graf, lives on.
Founder Ervin Graf in 1994.Graf started with the construction of 19 fibro homes in the western Sydney suburb of Sefton in 1952, took the business public six years later with the takeover of the then smallest company on the ASX, and, with attention to detail and opportunistic flair, turned Stockland into the largest diversified property group in the country.
Speaking at his father’s induction into the Property Hall of Fame, Michael Graf said he always worked to consider the impact on the community. Stockland’s communities business already has a market-leading pipeline of more than 80,000 lots. To that, Gupta will add the fast-growing land lease business and a nascent apartment operation, which will potentially deliver units for sale, build-to-rent product, even product that can be leased for key workers.“Residential will become more institutionalised through land lease, build-to-rent and affordable housing, like you see in the US and Europe,” he says.
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