Adrian Puljich was 28 years of age when he conceived GemLife and then convinced Singapore diversified investment business Thakral Corporation to commit 50% of funds to create the business. Nine years later, it is valued at $1.58 billion. How did he do it?
In our experience with Adrian, the answer is his passion for action and innovation. He is both the most exciting and humble executive we have encountered across 20 years.
Consider these pointers to how Adrian thinks:
- He started thinking on how to create a vertical land lease building 10 years ago, and won DA approval for the first site last year.
- He has led the development of the ultimate land lease community facilities; the first with horizon pools, first with ten pin bowling, the first free motorhomes for residents (emblazoned with GemLife advertising), the first homes with lifts, the first with sport competitions between his communities, plus many other innovations.
- He is the first to install community power bank batteries coupled with solar and private 5G networks to support residents and futureproof personal care technology in his homes (and along the way creating Prospecta Utilities which now provides private 5G not only in Australia but internationally, like mines and sawmills in Sweden).
And he delivers exceptional business outcomes:
- He established GemLife in 2016 with him and Thakral as the major shareholders.
- He is the only land lease operator that is a full vertical integrated business as a dedicated greenfield developer, builder, sales and marketer and then operator.
- He announced a new land lease brand (Aliria) just 24 months ago which he owns 100%. As part of the ASX listing, he will receive $270 million to acquire Aliria, which is contributing now 12 of GemLife’s 32 sites to the float.
- He makes the most profit while delivering, he claims, the best quality homes: his FY25 EBITDA margin is 39% on ~$270 million revenue.
Last Friday, they closed off the ASX listing book oversubscribed by hard headed institutional investors kicking in $650 million on a valuation of $1.58 billion.
Simon Owen achieved similar growth with Ingenia between 2012 and 2024, but he was 10 years older than Adrian when he established Ingenia, he was experienced in stock exchange listings (Aveum) and he had an established business to get him going.
A lawyer by training, Adrian had five years with his father’s business before he set off on his own.
Entrepreneurs like Adrian and an increasing tide of new entrants, like Scape’s planned purchase of Aveo, createsan exciting reboot for the retirement living sector.
You can learn more on what drives him by watching and listening to his 2025 LEADERS SUMMIT presentation HERE:
