One & Only Hayman Island, Whitsundays Islands, QLD © Barbara Kraft
It took very little to convince Mulpha International Bhd (Mulpha) back in 1985 that Australia was an excellent investment destination.
It possessed the lifestyle, sustainable industries, and economic and political stability the company was looking for. When coupled with Australia’s sophisticated real estate investment market, this presented huge growth opportunities.
Mulpha sees these as “key foundations” to achieving market outperformance through strategic investments.
Today, Mulpha is Malaysia’s largest real estate investor and developer in Australia. The company specialises in the acquisition, development and management of a range of, hospitality and real estate investments.
These include core office and commercial property, hotels and leisure assets, hotel schools, shopping centres, integrated residential, retail, and commercial developments, carparks, wineries and vineyard operations.
Cairns is one of Australia’s fastest growing markets, but with little to no new hotel supply coming in,” said Mr Shaw. “This, coupled with our strong hospitality competencies, made it an ideal investment opportunity,"
- Greg Shaw, Chief Executive, Mulpha Australia
Operating as Mulpha Australia, some of their iconic properties include:
Mulpha also holds a strategic stake in the Aveo Group – Australia’s largest owner, operator and manager of retirement communities.
These iconic properties, along with its boarder spectrum of, hospitality and real estate investments, were acquired strategically over 30 years. This provided Mulpha with a diversified, mature portfolio providing healthy returns.
Encouraged by the success of this portfolio, and growing interest in Australia from across Asia, the company has extended its offering to include funds management.
Mulpha Funds Management commenced operations in July 2016 as a boutique fund manager dedicated to institutional and sophisticated wholesale ‘high net worth’ individual investors – with a focus on the real estate sector in Australia.
Mulpha Australia Chief Executive, Greg Shaw, said the company is capitalising on its significant property expertise and local market knowledge.
"A number of very exciting opportunities have emerged in Australia over the past 30 years and we have taken advantage of these wherever possible."
- Greg Shaw, Chief Executive, Mulpha Australia
“Our experienced team analyses investment opportunities with the aim of producing superior investment returns for our clients,” he said. “We use an active management model where our disciplined investment approach and focus on investment performance is enhanced by our specialist asset and operational management expertise.”
Mr Shaw said the business had always been “driven by opportunity” and the time was right to expand its offering into funds management.
“We have a proven track record in hospitality and leisure, residential development, retail, office and mixed use developments and can add significant investor value,” he said.
“We will use our existing Asian network to raise capital, providing access to a local platform that offers skill sets in investment management, asset management, operational and development management. The broader Mulpha family has strong connections throughout Asia and Australia and we will be capitalising on that.”
To get the ball rolling, Mulpha Funds Management acquired the Rydges Esplanade Cairns hotel from Abacus Funds Management for A$40 million in September 2016.
The purchase of the 242-room, four-star property was the first in what will be a series of strategic acquisitions across Australia, offered to both local and international investors.
“Rydges Esplanade Cairns has very strong market fundamentals. Cairns is one of Australia’s fastest growing markets, but with little to no new hotel supply coming in,” said Mr Shaw. “This, coupled with our strong hospitality competencies, made it an ideal investment opportunity."
Mr Shaw said Mulpha isn’t your typical fund manager as it is actually prepared to share the risk with its investors, by retaining a financial interest in the properties it offers.
“Asian investors in particular see that as very important. They see the value of a partner that puts its money where its mouth is, as opposed to simply taking a fee off the top,” he said.
Mr Shaw described Mulpha as an “opportunistic” investor. “A number of very exciting opportunities have emerged in Australia over the past 30 years and we have taken advantage of these wherever possible,” he said.
“This has included city and non-metropolitan investments in regional tourist areas such as Perisher, the Hunter Valley, Hayman Island and more recently, Cairns. We see these areas as extremely important and viable investments opportunities for the long term. They are also of particular interest to the Asian market – be it as investors or tourists.”