Property developer Con Makris has built a fortune worth an estimated $1.03 billion after a business journey that began with takeaway food stores and evolved into a major property empire, according to afr.com.
The 79-year-old Greek migrant arrived in Adelaide in 1963 and worked in a steel foundry before buying a fish and chip shop. He later expanded into rotisserie chicken stores across South Australia and Victoria, selling the businesses while retaining ownership of the real estate.
Makris eventually shifted his focus to shopping centres, acquiring and revitalising ageing assets across South Australia. He built a reputation for identifying undervalued properties and maintaining strong relationships with tenants.
One of his biggest acquisitions came in 2013 when he purchased the Gold Coast’s Marina Mirage precinct from receivers for $52 million. He later acquired the neighbouring marina and is now leading a $500 million redevelopment of the waterfront site.
The project will replace the existing shopping centre with a 126-room luxury resort operating under the Marriott brand, alongside 38 private residences, restaurants, bars and retail space.
Makris first saw Marina Mirage in the late 1980s and said he hoped one day to own it. More than three decades later, the development has become the centrepiece of the family business, which is increasingly being led by his son Jason and daughter-in-law Natalie.
Reflecting on his success, Makris said: “My secret was, I will never sit down and have a coffee with a person that was not successful.”
The billionaire believes destination-based developments represent the future as he looks beyond traditional shopping centre investments.
Source: afr.com
