DEVELOPMENT

LAST WORD – GEORGE MASTROCOSTAS

WORDS: Ocean Road Magazine Editorial Staff PHOTOGRAPHY Supplied

Aniko Group founder George Mastrocostas says we are staring down the barrel of what is undoubtedly a golden decade for the Gold Coast as it cements its reputation as a city of world-class livability.

 

Can you give us an introduction to who you and Aniko Group are?

I’m George Mastrocostas, founder of Aniko Group – a proudly local, family-owned and operated company based on the Gold Coast. My own background is in engineering and I’ve been involved in the real estate industry for the past 20 years.

Over the past decade, Aniko has been responsible for creating innovative ‘next generation’ living spaces for our residents that maximise the enviable lifestyle we have here in Queensland. We have created more than 1000 luxurious residences in some of south-east Queensland’s premier addresses. Our recent development efforts have had a particular focus on the transformation of Hope Island, delivering a suite of luxury developments valued at more than $500 million.

 

What does the next decade on the Gold Coast look like to you?

We are staring down the barrel of what is undoubtedly a golden decade for the Coast. With the Olympics coming up in 2032, there is going to be a lot of infrastructure spending in south-east Queensland over the coming years. That’s only going to increase the liveability of the region and contribute massively to the investment we’ve already observed in recent years.

I’ve always believed that as long as there’s a healthy median price difference between the Gold Coast market and the southern states, people will continue to make the choice to move to south-east Queensland. That’s always been the case. We saw them come in droves in the last couple of years due to COVID, and we’ll see that continue in big numbers.

Top it off with the opening of international borders and return of immigration and you’re looking at a substantial era of growth on the cards for the Gold Coast.

 

There are some challenges in the current market. What are your views on them?

We believe in the Gold Coast and we understand the market, having developed almost $1 billion in projects here. We understand what purchasers want and there is always a product for any market in light of a critical shortage of housing and accommodation right across Australia. So long as there remains that balance of supply and demand – which certainly exists on the Gold Coast at present – then the market is going to remain healthy.

 

How has the Gold Coast changed in the past 20 years?

The Gold Coast is becoming a destination that people don’t just choose to holiday in, but a city where they could choose to move their families and build a life here. There are employment opportunities that continuously arise on the Gold Coast, and as that improves together with the maturity generally, the market is becoming more than just a holiday or a retirement destination. It’s now a city of world-class liveability.

I live here with my family, my three kids go to school here and we remain here because we believe in what the Gold Coast has to offer. The Gold Coast has been a wonderful place to invest, to work, to live and will continue to strive for bigger and better things. And at the end of the day, that has been the most rewarding part of what I do for a living. I love seeing the city grow and being part of that growth. We’ve certainly seen it over the last few years and we’ll continue to see it moving forward.