Crown Group – The Rise Of A Business Empire
Crown Group is one of the leading property development companies in Australia, and is largely engaged in the development, investment and management of residential and commercial properties. Unlike most other companies in the Australian property market, Crown Group has managed to enjoy phenomenal growth, rising from just a boutique operation to an enterprise with 3 billion dollars worth of property developments to its credit in just 17 years.
Crown Group was established in 1996 by Iwan Sunito after he raised an initial capital of 5 million dollars with the help of friends and family. After raising the capital, Sunito went ahead and launched Crown Group Holdings Pty Ltd, which later became Crown Group Holdings. In the same year, the company won a bid on a 28 million dollar development project for an apartment complex – its first major project and one that would mark the rise of a multi-billion business enterprise.
After a continued period of substantial growth, the company shifted its design focus in 2004 and started developing five-star resort-like residential properties. This change in direction paid off, and the company is now one of the leading residential property developers in Sydney, with approximately 2.8 billion dollars of development projects to its name.
Crown Group now specializes in the development of high-rise residential complexes as well as investment and management in industrial, commercial and retail projects. The continued growth of the company has seen its services expand. It offers a complete property investment package, which includes development planning, structural design, construction, and after-sale support services. It also engages in the selling and leasing of properties.
Crown Group Holdings has exerted its dominance in the Sydney property market, which has a potential of approximately 35 billion dollars due to the current housing shortage of about 50,000 units. The company is also seeking to expand its business to other major cities in the country, and has started investing in the Melbourne property market. It also has its eyes set on the Brisbane market, where it has been negotiating the purchase of a development site.
The company has also expanded to the international market, with a focus on the Asian sites. Its first overseas company office was opened in Indonesia, and there are plans to expand to other Asian markets including China, Malaysia and Singapore.
Apart from property development, Crown Holdings has also been at the center of community development. The company set up a foundation in 2012 that helps to give back to the community. Through the foundation, it donates 500 dollars from every apartment sold to the local development projects and activities.
Rising from a small enterprise to become the premier property developer in Sydney, Crown Group has enjoyed a taste of success that few companies have managed. This success is largely attributed to the skilled workforce and the intelligent analysis of the market, combined with an understanding of the various needs of the market. The culture of innovation cultivated by the company, which is characterized by modern designs and construction methods, has seen the company remain at the forefront of property development.