Meriton’s apartment sales soar as major developments near completion

Harry Triguboff’s Meriton Apartments is already looking at a bumper 2026 financial year, with unit sales significantly up. Picture: Lisa Maree Williams/Getty Images

Harry Triguboff’s Meriton Apartments is already looking at a bumper 2026 financial year, with unit sales significantly up on the previous year.

Referring to unreleased financial information, obtained exclusively by The Australian, Mr Triguboff said in the four months since June 30 Meriton settled $280m worth of apartments, compared to apartment settlements for the whole of financial year 2025 of $365m.

Accounting for the sluggish result in the 2025 financial year, Meriton deputy managing director Daniel Hendler forecast things would definitely improve this financial year in terms of apartment sales because there was more stock being finished.

“We have some big projects that are under construction which will complete this year,” Mr Hendler said.

These include the construction of more units at Meriton’s Pagewood development site in Sydney including another 230-plus apartments in three interconnected towers ranging from seven to 13 levels, as well as the apartment developer’s giant Macquarie Park complex further north of the Sydney CBD.

Meriton is also building 1000 units at its newest Brisbane CBD development site on Alice St, opposite the botanical gardens, and will start selling units next year. While work on its Surfers Paradise towers, described by Mr Triguboff as ‘colossal,’ was “well advanced.”

Despite the slower sales during the 2025 financial year, Meriton’s rental income soared to $836m during the 2025 financial year, up from $765m the previous year.

Indeed, Mr Triguboff stressed that a further 850 new residential units will be finished this year to add into his significant rental pool.

Meriton deputy managing director Daniel Hendler will succeed Harry Triguboff.

As for his contentious Little Bay site in Sydney’s Eastern Suburbs, which abuts housing commission residential complexes and the Long Bay Jail to the north, Mr Triguboff said he was at the mercy of the NSW government who had recently rejected his latest attempt to build apartment towers on the site and was looking at a master plan for the whole area.

Mr Triguboff had requested to build 2600 apartments contained in two 27-level towers on the Anzac Bay site through the state government’s Housing Delivery Authority. Five per cent of units deemed affordable housing in perpetuity were included in the mix, which also included child care, medical centre and restaurants.

Harry Triguboff would offload Little Bay if the price was right.

“If they want to build a new jail and a new place for the Housing Commission residents they are making it into a 20-30 year project,” said Mr Triguboff, who is worth more than $26bn.

“I hope my land will continue to increase in value.”

Asked if he would ever sell the Little Bay coastal site, which he has owned for the past 10 years, Mr Triguboff said he would consider selling Little Bay “if there’s a good price”.