Sydney real estate is one of the fastest-growing and most resilient markets in the world. In fact, Sydney made headlines this year as it stood out as the city with the largest sales of prime properties worldwide. Since the ’90s, the average property price growth in Sydney was up over a staggering 400 per cent.
As one of Australia’s most livable cities, Sydney evolved with several landmark residential and commercial projects, which have been brought to life by brilliant minds.
Below are the top five most iconic Sydney property developers and how they have not only set new industry benchmarks here but also worldwide.
1. Meriton
Creating a significant impact on the Australian landscape, Meriton is one of Australia’s largest and most successful residential property developers. It was founded in 1963 by billionaire property entrepreneur Harry Triguboff who is known for his incredible skill in designing and building high-quality projects.
Did you know that Meriton has developed more than 77,000 apartments and some of the most prominent residential towers across the east coast of Australia? That’s why it’s not surprising that Meriton was recently named Australia’s number one apartment builder in the HIA COLORBOND® Steel Housing Top 100 Report.
Some of their notable projects include Destination in Macquarie Park, Zetland’s Eminence, and Dee Why development’s Lighthouse, which was recognised as the best mixed-use development of the year by the Property Council of Australia in 2020. Recently, Meriton has been finding success in developing luxury townhouses. One of their most notable development is the Pagewood Centro Rivera, a rare boutique collection of 42 torrens-title luxury townhomes.
Meriton prioritises enriching residents’ lives with convenience and connectivity. The respected developer also puts wellness at the heart of the development process, ensuring its least possible impact on the environment.
2. Deicorp
With a dedication to delivering properties that generate long-term civic and economic value, Deicorp easily became one of the most successful developers across Australia despite being established only in 1999. To date, it has distributed over $3.5 billion worth of projects in residential, retail, and commercial real estate. The company’s success is not surprising at all with its diligent management team, reliable employees, and capable partners working collaboratively in pursuit of excellence.
One of Deicorp’s most recent projects is the ongoing development of Melrose Central, a retail and residential site in Melrose Park, that has a total gross floor area (GFA) of 73,000 sqm with the centre including supermarkets, a medical centre, childcare, gymnasium, and a private hospital. The site will be the leading service and entertainment area for the suburb.
The well-renowned property development and construction company was also a finalist this year for The Urban Developer Industry Excellence Awards in the category of Development of the Year – High-Density Residential for their excellent work with the Highline Westmead, which features resort-style amenities, barbeque pavilions, and unobstructed views across Parramatta Park and the Blue Mountains bushland.
Deicorp held on to its clear and shared vision of ambition, quality, efficiency, and professionalism and this has fueled the company’s success through the years.
3. Frasers Property
Singapore-based Frasers Property is one of Australia’s leading diversified property groups. Running for over 97 years, the globally acclaimed company operates across the residential, retail, commercial, and industrial property markets.
Frasers Property reached new heights as it launched a $2.2 billion master-planned community in the heart of Macquarie Park called Midtown MacPark. After the first phase of the development, Frasers Property has expanded its residential joint venture with Japanese developer Mitsui Fudosan to a total investment value of $797 million. This expansion includes Mitsui Fudosan’s support for three additional projects within the Midtown MacPark development in northwest Sydney, known as MAC Residences, with a total of 1,145 homes across four buildings. The partners are progressing with their joint venture’s second phase, known as Treehouse, and anticipate launching phases three and four in 2024.
Frasers Property operates with integrity and elegance, not only focusing on the value of projects, but also considering the environmental, social, and financial sustainability of its operations. This led the Global Real Estate Sustainability Benchmark to acknowledge Frasers Property as the Global Development Sector Leader – Residential and the Global Non-listed Sector Leader – Diversified Office/Industrial, in combination with Frasers Property Industrial.
It is the ninth consecutive year that Frasers Property Australia has competed in these categories and the second year it has won Global Leadership categories.
4. Mirvac
Reimagining urban life and having a clear purpose in property development, Mirvac continues to strive as an award-winning company in their field across Australia. Founded in 1972 by Robert Hamilton and Henry Pollack, Mirvac operates in residential, industrial, and retail property markets.
One of the most notable projects Mirvac is known for is the longstanding redevelopment at Green Square in collaboration with Landcom. They worked on three new residential apartment buildings at Green Square in Sydney. These buildings, with a total construction value exceeding $210 million, are part of Mirvac’s effort to address the housing supply crisis in Australia, with a focus on residential expansion and build-to-rent projects. In total, Mirvac plans to deliver over 1,600 apartments, office spaces, retail areas, and public spaces in the Green Square Town Centre.
Mirvac is also well-known for its commitment to sustainability. Did you know that Mirvac recently got a world-class 6-Star Green Star Buildings certification? They are the first in Australia to achieve this feat for their work at Heritage Lane.
Mirvac’s “This Changes Everything” ESG strategy aims to be a force for good, driven by ambition, stakeholder focus, and a commitment to ethical practices. They’ve achieved success in carbon emissions reduction, gender pay equity, and social procurement, making substantial contributions to communities. It’s no surprise that their efforts have earned them recognition, including being ranked as the world’s most gender-equitable company by Equileap and receiving recognition in the 2022 AFR Boss Best Places to Work awards.
5. Fortis
Were you aware that Fortis Development Group was only founded in 2016? Yes, it’s true! Nevertheless, they have quickly established themselves as one of Australia’s leading property developers. Founded by Patrick Keenan, Dan Gallen, and Charles Mellick, the company’s portfolio already has over $500 million in residential and commercial projects, and there is an additional $224 million set for completion by the end of the year.
Fortis, along with Deicorp, recently got approval for separate projects totalling $784 million. Fortis has secured approval for its Bronte Collection project in Bronte, with an estimated end value of $134 million. This project will feature nine four-bedroom freestanding homes over a communal basement with views of Bronte Beach.
Their quick rise to the top has been inspiring and outstanding as they prove that they can keep up with the prominent players in the industry. Just last 2020, they were nominated for The Urban Developers Award in three categories: Development of the Year – Medium-Density, Residential Development of the Year – Small-Scale Residential (4-20), and Excellence in Marketing. The latter shows as they continue to gain recognition for their remarkable achievements and innovation in the field. Their dedication and commitment to excellence have undoubtedly set a high standard in the industry, and they are well-poised to achieve even greater success in the future.
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