With the many building sites and construction cranes visible all over the capital, it’s clear to see that our city is growing and the property market is booming. According to BIS Oxford Economics, the Canberra’s median house prices are expected to jump 16% by 2020.
As one of the city’s successful high-rise apartment developers, Geocon is aiming to change the Canberran skyline. Their distinctive branding has become a familiar sight on construction sites from Gungahlin in the north to Tuggeranong in the south.
According to Geocon’s Managing Director, Nick Georgalis, “Being a local company gives us unique insights into the Canberra market and its great potential—it’s how we identify the next hot spot.
“A good example would be the two Woden developments, on the doorstep of stage 2 of the new light rail service. You can’t buy an affordable apartment near a train or tram station in any other city these days. People who get in first on projects like these do extremely well, in terms of return on investment, anywhere in the world.”
Geocon is proof that Canberra is on the forefront of innovation. Their Abode Hotel in Bowes Street is an award-winning, sustainable, adaptive re-use of a 1970s public service office building, which they converted into Australia’s first green-star rated hotel.
Georgalis sees Geocon as far more than the high-rise apartment business he started with a skeleton staff 10 years ago from his Kingston home. “It’s about creating new ways of living in Canberra and fundamental to our success has been forging partnerships with the best operators in their fields,” he says. The company is also attracting talented people to our city, including Michelle Rowe, Group Head of Communications. Rowe welcomed the change from Sydney to Canberra.
“When friends and colleagues heard I was heading to the so-called bush capital, they thought I’d gone quite mad,” she says. “But it turns out to be one of the best decisions I’ve made. I love the easier pace of life, discovering the city’s hidden secrets—there really are some great bars and restaurants if you know where to find them—and changing the opinions of my previously sceptical mates.
“I was speaking to someone recently who lives in Gungahlin and she said that whenever she sees our Infinity site on the horizon she realises she’s almost home. It’s fantastic to be working for a company that’s making such a big impact on Canberra.”