‘Corruption’: Mega-builder’s key to dire Aussie problem

One of Australia’s richest men says one simple thing could see the end to a huge problem that’s plaguing the nation, but it must happen now.

Billionaire property developer Harry Triguboff has revealed his solution to the dire housing problem that’s gripping Australia.

The Meriton Apartments managing director, who has built some of the nation’s tallest towers, said changes must be made in order to see progress on solving the crisis.

Ultimately, the 91-year-old, who has sold more than 80,000 apartments, said that we must think bigger.

“The higher we build, the better it is,” Triguboff told 7News.

“You can’t use today’s ways and expect things to improve. They don’t improve by themselves.”

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He cited the NSW government’s push for more units located around Sydney transport areas as a proposal that needs to go sky-high.

“High rise is 50 floors,” he remarked. “They’re talking five floors.”

Triguboff also said he wants to reward bureaucrats for approving more development applications.

“I think they should be given bonuses, and the politicians should be kept out of approving new developments.” Triguboff insisted.

Meriton Apartments managing director Harry Triguboff. Picture: 7News

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When asked about corruption concerns, he fears “there might be corruption that nothing is built already”.

Born in China before moving to Australia and becoming the nation’s third-richest person, he has long called for the Reserve Bank to lower interest rates in order to ease construction costs and boost affordability.

Triguboff said he “blamed the big bosses of the country”, for failing to “give instructions” and following the safe path instead.

Artist impression of Meriton Shore, a Surfers Paradise supertower project proposed by Harry Triguboff. Picture: Supplied

He also called for immigration to be boosted in order to assist building.

“We have one of the biggest blocks of land in the world, and we have no people.”

In his newly released biography High-Rise Harry, he says he believes Australia can “succeed”.

Building higher is the answer, Triguboff insists. Picture: Supplied

Earlier in the year, Triguboff warned that planning delays made him “tempted to stop” building apartments in Sydney.

He feared the government’s efforts to increase supply through rezoning would fail, worsening the housing crisis, and called on councils and planning authorities to do more to help developers otherwise more could go bust.

“I am the state’s largest apartment builder but if I have to waste years building in Sydney, and not in other places, I will not build here except to finish on my empty blocks of land,” he wrote in an opinion piece for The Australian.

“The problem is that there is not enough action to back up the official sentiments on housing. I see that our authorities in NSW are promising that production of units will increase, but for this to happen blocks of land for many hundreds of units must be sold.”