Meriton boss Harry Triguboff blasts lockdowns, travel curbs as cancellations take toll

Harry Triguboff has suffered 50 per cent cancellations across his serviced apartments as holiday-makers cancel trips amid yet more state border closures.

Meriton founder Harry Triguboff. Picture: John Appleyard

Multi-billionaire Harry Triguboff has suffered 50 per cent cancellations across his vast portfolio of serviced apartments as holiday-makers cancel trips for the school holidays amid yet more state border closures and lockdowns.

“It’s terrible,” said the property mogul and Meriton founder on Wednesday, as he called for an end to state border closures and lockdowns.

“I think there should be no stopping of people going from state to state, that is nonsense.

“We are trying to work, that is the big thing. And if we stop people going from state to state I don’t believe you will get less people sick with Covid.”

Regardless of whether there was a state border closure or not, the total number of people who contracted Covid would be the same, he said he believed.

“These border lockdowns are not helping at all. We cannot have people locked up, it’s not on … it should be forbidden,” he said, adding that the border closures and lockdowns would ruin businesses.

“Governments are reacting like we have thousands of people dying (from Covid),” Mr Triguboff said, and called for the federal government to properly organise vaccinations.

Mr Triguboff also said he would not buy more development sites in NSW (although he is looking in the ACT and Queensland) until the state government revealed its new plans for apartment developments.

He argues that it is cheaper for the NSW government to allow apartment tower developments compared with housing estates because units need less supporting infrastructure. He also argues that units are usually in better positions, closer to schools, shops and public transport.

“Instead of adding costs we should think of lowering costs for apartments,” he said.

“The easiest way to do this is to make the approvals quicker, allow the garages to be above-ground and to stop changing the rules under the proposed Place & Design SEPP which will add up to $300,000 in costs per apartment. Then the apartments will be more competitive and more productive for the state as they are much more affordable and are in much better locations than other forms of new housing.”

Mr Triguboff, who controls about 9500 rental apartments, said just 1 per cent were vacant despite the lack of foreign migrants and students.

Mr Triguboff said he was not fazed by the NSW government’s recent refusal of his plan to build 1900 apartments at Little Bay.

“So far I have had a small approval, that is worth twice as much as what I paid for it,” he said.