Early Life
Harry Triguboff was born on March 3, 1933, in Dalian, China, to Russian Jewish parents who had fled the Russian Empire due to antisemitism. He spent his childhood in Tianjin, China, where his father ran a successful trading store. In 1948, the Triguboff family immigrated to Australia.
Rise to Success
Triguboff's career began in the textile industry before he transitioned to real estate. He founded Meriton in 1963, initially focusing on small residential developments. Triguboff built his first apartment block in Gladesville, Sydney. He identified the growing demand for high-density living in Sydney, which traditionally featured single-family homes. Over the years, Meriton has built over 79,000 apartments across Australia, becoming the country's largest residential developer.
Key Business Strategies
Triguboff's business strategy has been marked by several key elements: owning land, generating consistent cash flow, and holding assets for the long term. His philosophy centers on long-term appreciation of well-located properties. During economic downturns, he rented out unsold units to cover interest, holding them until market recovery. Triguboff has also focused on providing a mix of residential, retail, and childcare facilities within his developments.
Philanthropy
Triguboff is known for his philanthropic efforts. Through the Harry Triguboff Foundation, he donates around $3 million annually to various causes, including education, healthcare, and organizations supporting the Jewish community. The foundation invests in financial assets and real property to support these activities.