When Adrian Puljich, GemLife founding Director and CEO, spoke in the afternoon of the LEADERS SUMMIT 2022, everyone rushed back into the auditorium.
DCM Group CEO Chris Baynes called Adrian’s speech a “masterclass in successful retirement living development”.
He established GemLife with the joint venture partner Thakral Corporation, the Singaporean real estate investment business, at age 28. A listed company, Thakral has just released its 1H23 results, highlighting that the GemLife joint venture has “over 600 contracts and deposits currently on hand”.
This very favourably compares to large, established operators: Ingenia Communities sold 458 homes, Stockland had 382 sales and 387 contracts on hand, and RetireAustralia sold between 520 and 560 homes in 12 months.
Thakral Corporation said GemLife now has 1,222 homes in its joint venture portfolio, with the number of homes increasing by 30% on a year-to-year basis, improving its revenue base.
GemLife has begun building Stage One of its Moreton Bay resort, with 75% of homes under contract or reserved. GemLife Highlands, GemLife Maroochy Quays and GemLife Pacific Paradise are in their final stage of building, GemLife Gold Coast has opened with Stage One residents moving in. Its sole Victorian resort, GemLife Woodend, is nearly sold out.
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