Real estate developers have become some of the super-rich in Australia over the last decade with most people assuming all players are millionaires – they forget the large degrees of risk that comes with leverage, rising materials costs and labour issues and that’s before we consider a pandemic! We don’t believe the games over for these entrepreneur’s but it is maturing hence MM prefers the more diverse quality names with exposure to property and its development. Our pick of the group is heavyweight Goodman Group (GMG) which may not excite on the upside but we are confident in its ability to deliver performance and share price gains over the coming years.
MM is mildly bullish GMG
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