Ahmed Fahour to lead Rich Lister Tim Gurner’s $15b property empire

“Our combined experience and skills will help us achieve what we both know is possible for the group.”

While the terms of Mr Fahour’s appointment as group chief executive have not been disclosed, it is understood he will make a minority investment in the expanding property, lifestyle and funds management platform. The platform has six divisions and a portfolio, including its development pipeline, estimated at $14.6 billion.

“It was important in this next chapter of my career to work in the private sector with a business and people who have drive, ambition, creativity and a strong sense of commerciality. Tim brings all of this and more,” Mr Fahour said.

Mr Fahour said Gurner Group was well-placed to take advantage of big structural factors driving the national economy: a significant undersupply of housing, the ageing population, and the build-up in superannuation capital looking to be invested.

“The true value of Gurner Group lies in evolving a platform to deliver tangible solutions to those structural opportunities. Gurner is an alternative asset manager with significant growth opportunities,” Mr Fahour said.

The platform created by the energetic Mr Gurner now spans hospitality, design, property management, funds management, and development in build-to-sell and build-to-rent apartments. More recently, Mr Gurner has pursued his passion for wellness, launching a network of health clubs under the Saint Haven brand. 

Four years ago, Mr Gurner undertook a strategic overhaul of his growing business, with a shift toward a capital-light funds management model which would oversee a portfolio of luxury living and lifestyle interests. The appointment of Mr Fahour is the next step in further building the platform.

Since embracing the funds management model, Mr Gurner has landed chunky commitments to his build-to-rent pipeline, with a tie-up with ASX-listed financier Qualitas, and this year winning a $2 billion capital injection from an offshore institutional investor.

And despite the challenges in the real estate sector, Gurner Group has struck over $300 million worth of land acquisitions this year across its build-to-rent and build-to-sell platforms, adding $1.9 billion in total project value to its pipeline.

Along with apartment development, the Gurner Group founder and his new chief executive are also eager to tap the growth potential in the health and wellness sector, with plans to roll out a series of new brands. Already there are 4,800 people on the wait list for the first Saint Haven club, which opened in inner-city Melbourne.