Fu and Lin Family

Brisbane, Property

Gordon Fu

Brisbane, Property

$1.49 billion (up $50 million). Last year: No.3

Taiwanese migrant Gordon Fu and his family are the largest owners of shopping centres in Australia after the giant Westfield group.

Their Yu Feng company quietly added a 19th shopping centre to the massive portfolio across the state's south-east last year, paying $62 million for Calamvale Central in Brisbane.

The 69-year-old and son-in-law Jack Lin, 44, work together closely and their companies, although separate, share ownership of some centres.

Mr Fu, who came to Australia in 1992, is reportedly the son of a street vendor and started his working life painting cinema posters. His entrepreneurial career began in the construction industry and he also established a fast-food firm called Sun Smile Chicken.

He cannot speak English, relying on sons Luca and Michael and Mr Lin to help run the family business.

Though Mr Lin's Trondage Enterprises reported a decline in profits in the 2012 financial year, a dividend of $61.8 million was paid.

The value of the portfolio - which includes Australia Fair at Southport, Brookside in Brisbane, Peninsula Fair at Redcliffe and Redbank Plaza - was boosted by increased retail property values.

The company recently announced a $50 million facelift for the 25-year-old Toowong Village centre will start early next year.

The family owns large homes at Sunnybank Hills and Robertson, in Brisbane's south, and guard their privacy closely.