Maurice Alter 

Name: Maurice Alter

Country: Australia

Date of birth: 1925

Type of business: Real estate

Main Achievements: A self-made entrepreneur, an Australian billionaire. In 2019, he was on 18th number according to Australia’s 50 richest businessman lists. He owns Melbourne-based Pacific Group, and pacific shopping center along with Epping Plaza, Rundle Place Shopping centers, and Werribee plaza.

Something interesting about the person: An Interesting fact about Maurice Alter is that he loves art, and that is why he supports the arts. He also supported Jewish causes.

Biography: 

Maurice’s alter in Poland in 1925. He was born into a Jewish family. After the 2nd World War, he, along with his family, migrated to Australia. Maurice Alter lives in Melbourne, Victoria along with his wife and two children. Victoria is a southeastern Australian state. After he migrated to Australia from Poland, Maurice Alter started his own real estate business named Pacific Group Property Development in 1979. His business is most active in Victoria and Southern Australia. He even has Pacific Epping and Werribee Plaza in Melbourne, Victoria. Before starting Pacific group property, Maurice Alter bought his first property in the 1950s. According to Forbes, Maurice Alter has a striking net worth of USD$ 2.1 billion.

Maurice Alter supported Kris Daff, who was a developer in Melbourne. He supported Daff in his $60 million projects in the inner north of the city, Kensington. This project was build to rent a project. Alters was already a big name in real estate, so it was a significant achievement for him.

The 95-year-old property developer Maurice Alter co-owns Coles Group headquarters in Melbourne and also owns a large sum of malls in both Adelaide and Melbourne. In recent years, after Maurice Alter bought shopping plazas. i.e., Pacific Shopping center and Werribee plaza Shopping center in Melbourne, his wealth has got an incredible boost as he got 50 percent sales from these plazas.

His company, Pacific Group of Companies, is a real estate company, an Australian based private equity investment group. The company has experience of 60 years. Pacific Group of Companies manages and owns a large amount of commercial and retail properties around Australia. These properties include Epping Plaza, Rundle Place Shopping centers, and Werribee plaza. Pacific group of companies by maintaining their resources while giving a well-organized procedure for owner reporting ensures to provide a correct sustained solution to manage their business processes and operation from the occupants in the property.

The company Pacific Group through its daughter company Werribee and Epping Malls, completed the sale of a 50% share in Victoria to QIC global Real estate. The company earned billions of USD$ from this sale. Redevelopment of shopping malls and its expansions have nurtured the value of Pacific group Companies on Australia’s east coast. Queensland investment corporation fund manager recently paid 1 billion USD$ for half share in the flagship shopping centers of Maurice Alters’ Pacific Group of Companies in the north and west Melbourne. The pacific Werribee is a shopping center of 13100 sq meters. The company bought 50% of shares in the Werribee shopping center.

The pacific group of companies is cherished value companies in private, credit, and real estate. Maurice Alter, through his company Pacific group of companies, tries to align long term partnerships with local specialist managers. The company invests its capital with other companies. Maurice Alter and his company Pacific group own over 300,000 sq meters of real estate that is controlled by the office and retail sector throughout the past 60 years. Maurice Alter aims to expand the company by broadening its horizon and its capacity, while real estate would remain his prime focus of the investment.

The 90 years old billionaire Maurice Alter took 20 years to establish his renowned business Pacific group of companies from screech. Maurice Alter made his name in the property; his consistency of property ended in the long-term creation of wealth. A few years back, he handed over the control of his company Pacific Group to his son Sam Alter.

 

 

 

 

 

 

 

 

 

Links

https://www.forbes.com/profile/maurice-alter/#655602233231

https://theurbandeveloper.com/articles/australias-richest-property-players-2019

https://www.smh.com.au/business/companies/alters-look-to-sell-melbourne-shopping-centres-20171201-gzwm9g.html