HomeNewsHarry Triguboff: Billionaire developer’s big gripe with Sydney

Harry Triguboff: Billionaire developer’s big gripe with Sydney

One of Australia’s richest men has blasted Sydney — with developers saying the city is “closed for business” because of a log jam of red tape causing major headaches for housing developers.

Australia’s top property developers and industry insiders claim the finger can firmly be pointed council approvals, and they have forecasted a potential exodus from the city as a result.

Talking to the Australia-Israel Chamber of Commerce’s business lunch on Wednesday, billionaire founder and managing director of the Meriton Group, Harry Triguboff, described the struggle to gain approvals for new builds.

“At present you cannot build in the state of New South Wales … I promise you. If I can’t, nobody can,” he claimed.

He said the delays in building coupled with the allure of warmer climates were now facilitated and even encouraged by Sydney’s emerging planning impasse….


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