The world of luxury real estate has witnessed a significant surge in recent years, with billionaires and high-net-worth individuals snapping up properties like there’s no tomorrow. The latest addition to this trend is the acquisition of a luxury apartment in Barangaroo’s Crown Towers by tech billionaire Robin Khuda and his wife Melea.
The Expansive Portfolio of Robin Khuda
With this latest purchase, the value of the couple’s residential real estate assets, mostly located north of the bridge, has exceeded $90 million. This is not the first time the Khudas have made a significant investment in real estate. They purchased a two-bedroom, two-bathroom unit in 2021 for $10.7 million, which they are now selling for $11.5 million. The luxury three-bedroom, four-bathroom unit in Crown Towers is valued at $20 million to $21 million and boasts stunning views of the harbour and a Manhattan-inspired design by Meyer Davis.
Why Do Billionaires Invest in Luxury Real Estate?
There are several reasons why billionaires like Robin Khuda invest in luxury real estate. Firstly, it provides a hedge against market fluctuations. By owning physical assets, they can protect their wealth from market downturns. Secondly, luxury properties often appreciate in value over time, making them a lucrative long-term investment. Finally, owning a luxury property can be a status symbol, allowing the owner to showcase their wealth and success.
- Stability and security: Luxury properties tend to hold their value over time, making them a stable investment.
- Appreciation: Luxury properties often appreciate in value, making them a good long-term investment.
- Status symbol: Owning a luxury property can be a status symbol, allowing the owner to showcase their wealth and success.
The Sale of Victoria’s Basement Co-Founder’s Property
Victoria’s Basement co-founder Dan Kalanderian is selling another investment property in East Lindfield. The property, a five-bedroom, four-bathroom home designed by Matthew Carlisle, has a price guide of $9.1 million to $10 million. The property features a range of luxurious amenities, including Calacatta Breccia marble benches, a curved oak staircase, and hand-selected white Sydney sandstone walls.
Other Notable Sales
- The sale of a luxury apartment in Crown Residences, valued at $20 million to $21 million, to tech billionaire Robin Khuda and his wife Melea.
- The sale of a two-bedroom, two-bathroom unit in Crown Towers, valued at $11 million, to Ben Tilley, former right-hand man of James Packer.
- The sale of a five-bedroom, four-bathroom home in East Lindfield, priced at $9.1 million to $10 million, to Dan Kalanderian.
| Property | Price Guide | Buyer | Seller |
| 5-bedroom, 4-bathroom home in East Lindfield | $9.1 million to $10 million | Dan Kalanderian | Victoria’s Basement co-founder |
| Luxury apartment in Crown Towers | $20 million to $21 million | Robin Khuda and Melea | Carole Meers |
| 2-bedroom, 2-bathroom unit in Crown Towers | $11 million | Ben Tilley | Monika Tu of Black Diamondz Property Concierge |
The Sports Exec’s Downsize
Long-running sports administrator Brian Thorburn and his wife Ally have sold their Hamptons-style family home in Lane Cove for close to $6 million. The couple had been downsizing from their four-bedroom, four-bathroom house, which they bought for $1.84 million in 2018 and had a price guide of $5 million. Brian has had an illustrious career in sports, serving in a range of highly ranked jobs, including chief executive of PGA of Australia, secretary of Ruby Australia, and chief executive of the Fijian Drua.
“Downsizing is a smart move, especially when you’re getting older. It’s a great way to reduce costs and focus on what’s truly important.” – Brian Thorburn
The Luxury Real Estate Market
The luxury real estate market is a highly competitive and dynamic industry, with billionaires and high-net-worth individuals constantly on the lookout for their next luxury property. As the market continues to grow, it’s likely that we’ll see even more significant investments in luxury real estate in the coming years.
- The luxury real estate market is highly competitive and dynamic.
- Billionaires and high-net-worth individuals are constantly on the lookout for their next luxury property.
- The market is expected to continue growing in the coming years.
The End of an Era
As the luxury real estate market continues to evolve, it’s clear that this trend is not going away anytime soon. With billionaires like Robin Khuda and his wife Melea continuing to invest in luxury real estate, it’s likely that we’ll see even more significant investments in this market in the future. The end of an era may be near, but for now, the luxury real estate market remains a vibrant and exciting industry.
