NSW is closed for development business: Ingenia CEO and MD Simon Owen agrees with Harry Triguboff

Simon Owen, the CEO and Managing Director of Ingenia Communities, said he agrees with Meriton property developer Harry Triguboff that NSW is closed to development. Simon sat alongside Harry at an Australia-Israel Chamber of Commerce’s business lunch earlier this month when the Founder and MD of Meriton spoke out about building in NSW. SUBSCRIBE TO SATURDAY DIGITAL MAGAZINE

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

He added the delays in building coupled with the allure of warmer climates were now facilitated and even encouraged by Sydney’s emerging planning blockage. Simon said Harry was “spot on”.

“NSW is closed for business. Trying to develop affordable communities – you cannot get the approvals through,” said Simon. “It is a crying shame.”

Ingenia stated in its 2021 FY Presentation that it has a development pipeline of 6,580 potential home sites – 90% in QLD and coastal/regional markets.