Labor accused of ‘chopping and changing' superannuation system
'This is changing the rules, it is a reflection of a range of concerns about super and the current government finances,' Mr Hogan told Sky News host Danica De Giorgio.
'This could change the way Australians think about their super going forward if it is this vulnerable to being chopped and changed by each government that comes through.'
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The Age
an hour ago
- The Age
Australian family scores $417 million windfall from business that grew from a trailer park
Once the IPO and the Aliria deal are bedded down, GemLife will control 32 communities and have a development pipeline of 9836 home sites across Queensland, NSW, Victoria and South Australia. 'More than ever before, older Australians are healthier, more active and looking for places that support the way they want to live,' Adrian Puljich said. '[The listing] reflects the hard work and dedication of the entire GemLife team over the past eight years, and pays tribute to the decades of entrepreneurial groundwork laid by my father – a legacy that helped inspire my own path with GemLife.' The GemLife brand was created in 2015 when the Puljichs teamed up with Singapore-listed Thakral Corp in a joint venture that Adrian has since run as chief executive. The newly listed company is not alone in catering for retirees. Established player Ingenia Communities is a direct competitor. The $2.2 billion ASX-listed property manager also develops and owns communities targeted at over-50s, as well as holiday parks and rental businesses. It reported improved revenues and profits last year on the back of turnaround efforts by its chief executive, John Carfi. Another competitor, South Melbourne-based Lifestyle Communities, has a market capitalisation of about $844 million. The land-lease community sector, with its steady annuity-style income streams, has been attracting institutional capital in Australia, with joint ventures and significant investments in recent years. A year ago, Hong Kong-based real estate private equity firm Gaw Capital Partners and Australian alternative real estate fund manager GreenFort Capital created a joint venture to acquire and develop a pipeline of $800 million in projects focused on communities for people over 50. Loading Locally traded property giant Stockland has been expanding within the segment under the brand Halcyon, which it bought in 2021 for $620 million. Limitations of the land-lease communities include fees that can potentially increase over time and regulations that are made at a state level, resulting in considerable variation between jurisdictions.
Sydney Morning Herald
an hour ago
- Sydney Morning Herald
Australian family scores $417 million windfall from business that grew from a trailer park
Once the IPO and the Aliria deal are bedded down, GemLife will control 32 communities and have a development pipeline of 9836 home sites across Queensland, NSW, Victoria and South Australia. 'More than ever before, older Australians are healthier, more active and looking for places that support the way they want to live,' Adrian Puljich said. '[The listing] reflects the hard work and dedication of the entire GemLife team over the past eight years, and pays tribute to the decades of entrepreneurial groundwork laid by my father – a legacy that helped inspire my own path with GemLife.' The GemLife brand was created in 2015 when the Puljichs teamed up with Singapore-listed Thakral Corp in a joint venture that Adrian has since run as chief executive. The newly listed company is not alone in catering for retirees. Established player Ingenia Communities is a direct competitor. The $2.2 billion ASX-listed property manager also develops and owns communities targeted at over-50s, as well as holiday parks and rental businesses. It reported improved revenues and profits last year on the back of turnaround efforts by its chief executive, John Carfi. Another competitor, South Melbourne-based Lifestyle Communities, has a market capitalisation of about $844 million. The land-lease community sector, with its steady annuity-style income streams, has been attracting institutional capital in Australia, with joint ventures and significant investments in recent years. A year ago, Hong Kong-based real estate private equity firm Gaw Capital Partners and Australian alternative real estate fund manager GreenFort Capital created a joint venture to acquire and develop a pipeline of $800 million in projects focused on communities for people over 50. Loading Locally traded property giant Stockland has been expanding within the segment under the brand Halcyon, which it bought in 2021 for $620 million. Limitations of the land-lease communities include fees that can potentially increase over time and regulations that are made at a state level, resulting in considerable variation between jurisdictions.
Herald Sun
an hour ago
- Herald Sun
IPO Watch: GemLife kicks off with a $750m bang in biggest ASX IPO of the year
IPO market begins to show signs of life as ASIC cuts red tape GemLife hits ASX with $1.6b luxury retirement splash GLF tops Virgin with biggest Aussie float of 2025 For the last couple of years, the Australian IPO market has been on a sabbatical. But now, the country's regulators are rolling out the red carpet, or at least tugging at the red tape, to make the path to public life a little easier. In June, the Australian Securities and Investments Commission (ASIC) kicked off a trial to streamline the IPO process. The plan is to cut a week off the traditional 20-week timeline by reviewing offer documents earlier, and reducing the back-and-forth that tends to slow things down. It's only open to companies worth over $100 million, but the message is clear: Australia wants more listings, and it's willing to loosen its collar to get them. From trailer parks to luxury resorts Just days after Virgin Australia's (ASX:VGN) long-awaited return to the ASX, another float is taking centre stage, this time from the world of luxury over-50s living. On Thursday, GemLife Communities Group (ASX:GLF) officially made its debut on the ASX, becoming the latest major player to test investor appetite in a warming IPO market. The stock opened at $5, a 20% premium to its $4.16 offer price, before easing back to around $4.40 by 3pm, still delivering a solid first-day gain. Founded in 2016, GemLife has grown fast. What started as a joint venture between the Puljich family and Singapore-listed Thakral Corp is now a $1.6 billion business, with a portfolio of resort-style communities built for Australians aged 50 and over. In fact, the story stretches back even further. GemLife CEO Adrian Puljich is carrying on the legacy of his father, Peter Puljich, who arrived in Australia in 1968 from Croatia and later transformed a caravan park on the Gold Coast into a high-end retirement community. 'We are a founder‑led pioneer business,' Adrian Puljich told Bloomberg. 'What makes us so unique is the fact that we build our own product. 'Every single touch point in the life cycle of GemLife Communities is dealt with by the GemLife builder.' That vertical integration, from land acquisition to construction and community operations, is a big part of the group's pitch to investors. All the tailwinds behind it GemLife is at the luxury end of the land‑lease community sector. Residents buy their home (usually prefab‑style), lease the land it sits on, and pay weekly fees of $230–$250 for access to top‑tier amenities. This includes country clubs, cinemas, bowling alleys, pools, pickleball courts, you name it. With properties spread across Queensland, NSW, and Victoria – from Pimpama on the Gold Coast to Woodend in Victoria's Macedon Ranges – GemLife has grown into one of the country's largest operators in this space. The IPO will help fund the $270 million acquisition of eight new projects from a company wholly owned by Adrian Puljich, growing the pipeline to 32 communities and nearly 10,000 homes. It's a big swing, but one that's riding a wave of tailwinds. Australia's population is ageing, home prices are stubbornly high, and many older Australians are looking to downsize without downgrading. That makes land‑lease communities a clever halfway point. According to Colliers, the land‑lease sector is tipped to grow 5% to 7% annually over the next five years, helped by both demand and new developments. Biggest listing so far this year GemLife's float was structured as a stapled security, a common setup in Australia where two or more securities trade together. The IPO raised $750 million, edging out Virgin's $685 million float, and making GLF the largest ASX IPO so far this year. After listing, Adrian Puljich holds about 17.6%, Thakral Capital 16.7%, and Peter Puljich 8.8%. It's a hefty debut in what's been a subdued IPO market. According to the ASX, total Australian IPO proceeds this year were sitting below $150 million prior to Virgin and GemLife's listings. That puts GemLife in rarefied company, and alongside two listed peers in the over‑50s living space – Lifestyle Communities (ASX:LIC) valued at around $870 million, and Ingenia Communities Group (ASX:INA), sitting closer to $2.3 billion. 'Encouraging older Australians to downsize also contributes positively to the broader property market, opening much‑needed family‑sized housing for younger buyers,' said Puljich. Originally published as IPO Watch: GemLife kicks off with a $750m bang in biggest ASX IPO of the year
