Travel plans dominate in the world of Dr Stanley Quek. Every January the Singaporean GP-turned-property developer starts the year with a mass purchase of return flights. Only then can he start to plan the logistics of an existence that requires him to divide his time between three countries, two Jaguars and a Mercedes.
But those airline tickets are not booked on a whim. That is not the Quek way. Rather, the former childhood bridge prodigy and chairman of Australia-based developer Frasers Property takes a meticulously strategic approach: “My family is in Singapore but my work is split between Australia and London,” says the 65-year-old earnestly. “I book my flights all at once – this year it was 13 – but I carefully select where I go to do so. If the pound is weak one year then I will purchase them in London. It now looks like the Australian dollar is about to weaken. So it might be wise to purchase my 2016 tickets there next January. I save tens of thousands of pounds a year doing things this way. I study economic performances and use currency plays in the acquisition of my air tickets.”
It soon becomes clear that such genuine excitement over careful, measured strategic thinking has driven much of Quek’s success. As chairman of residential developer Frasers Property, Quek is responsible for part of a £5.6bn portfolio that stretches across London, Australia and New Zealand.
A portfolio that includes One Central Park in Sydney(pictured). This Tetris-esque creation, complete with reflective mirrors and a 2,500-strong LED heliostat, was named the best tall building of 2014 by the Council of Tall Buildings and Urban Habitat and has been nominated for the MIPIM 2015 residential building of the year award.
Natural luxury
A ground-breaking residential structure that combines luxury living with sustainable innovation, the 33-storey tower has captured attention around the world. Part of a major 14.3-acre new “downtown destination” in Sydney’s Chippendale district, One Central Park showcases how modern design and a living, natural façade can be expertly woven together.
Crucially, the striking shape is not just for show. The double, asymmetrical tower means that mirrors on the lower roof reflect sunlight onto the overhanging heliostat, which has a triple purpose. First it reflects the mirrored sun rays onto the ground below, eliminating any shadow the building would usually cast. Then it acts as a solar panel to power various elements of the building, contributing to its six green-star rating. And finally it is considered a piece if public art at night thanks to the LED lights, which form a pattern on the underside of the platform – colour co-ordinated with the backdrop in the property’s entrance lobby season by season.
The building also boasts a 100m-high sky garden and the highest vertical gardens in the world – comprising 7km of planter boxes – masterminded by French artistic botanist Patrick Blanc. “We spent an extra A$8m (£4.1m) on public art just on this one building,” says Quek, proudly shuffling through a stack of images of the project from different angles and in varying lights. “Sustainability is very important in Australia,” he adds. “There is a strong focus on buildings that are as green and healthy as possible. We even included a plant to convert black or sewage water into reusable water – though not for drinking. This meant the cost of the scheme increased by about 8% to A$80m. But we made that back. It’s a 60,000 sq ft building with 18,000 sq ft of commercial space and 628 apartments, which have all sold. So I am happy. This building makes me happy.”
The best medicine
And it is true that Quek does come across as more relaxed, perhaps even more content, than many of his developer peers. And he gives the distinct impression that, while the success of his company and a couple of big awards might have a fair amount to do with this, it is partially down to a natural pragmatism.
“Property goes up and it goes down. You never really know if you will make money or see good returns. It is a bit like medicine in that way. You can never predict anything for sure. And actually a lot of the skills you need to be a good doctor are the same for a good real estate developer. You must be passionate, patient, exceptionally well trained. You need highly developed soft skills like being a good communicator. And you need to be able to handle difficult situations, make hard decisions and both face and give the bad news as well as the good. You need very similar qualities.”
Those and a meticulously strategic approach, of course.
