In an area like the Gold Coast full of veteran developers, it would be easy to write off the three Nikiforides brothers newly at the helm of Niecon Developments for their age. But between them, they have almost 100 years of experience in real estate.
While one wouldn’t traditionally start counting years of experience at such a young age, the siblings – William, 35, John, 34, and James, 33 – have been very visible on the job sites as they could walk alongside their father, the late Con Nikiforides.
“We’ve been around sites since we were babies, going from place to place, seeing things, hearing things,” William said. “Always having to sweep things up.”
They are the third generation to run the family business which started in 1969 in Canberra under grandfather Bill before expanding to Sydney and later along the east coast of Australia. They put down roots on the Gold Coast in 1978 and quickly established themselves as industry leaders and are responsible for some of the coast’s most iconic buildings including the Oracle Towers and Niecon Plaza.
Now, as the coast prepares for its next phase of life after mass migration through the Covid-19 pandemic and the build-up to the Queensland Olympics in 2032, Niecon Developments carries a binder of completed and upcoming projects up to snuff. of $1.68 billion.
The transition was relatively easy for the boys after their father passed away in 2017 at the age of 56. William has become managing director, while middle child John leads the legal side of the business as managing director and youngest. James handles sales and marketing.
“Being third generation, for us, is really special,” John said.
“I think we always had the eye to get there. We expected him to be in it in a different form with Dad continuing to be involved. Unfortunately, when that wasn’t the case anymore, we took it upon ourselves to band together and carry on, sort of.
“So we brought in distinct skills as well, which was quite important.”
Preparing for a new era of growth, Niecon has a pipeline of projects worth nearly $300 million. Not looking to get caught up in the fever of the current building boom, the boys have taken a thoughtful approach to new projects.
“The southern states have, you know, they’ve had some of the toughest lockdowns and I think that’s only propelled the attraction of the Gold Coast not just as a fun destination but also as a destination to grow and create remote living and working,” said James.
“We would like to continue contributing to the Gold Coast and giving back to the community that has given us so much because we were born and raised here.”
The latest is Ventura Residences, a boutique development of 47 upscale residences in Mermaid Beach. The two two-story villas overlooking the park are selling well with owner occupiers who are also attracted by the amenities of an exclusive recreational terrace and lounge for residents, a swimming pool suspended by a waterfall and a sunny terrace.
The project is due for completion in May next year, with another residential development application before council for a 93-unit residence in Biggera Waters. The brothers are also looking to develop the plan for a medical project in conjunction with the Queensland government.