Aussie billionaire developer Harry Triguboff believes the solution to the housing crisis is increasing immigration levels but urges the government to not rely solely on China, but aim for a broad range of cultures.
The 91-year-old Meriton Group owner and managing director shared his vision for the country while speaking with Mark Bouris on his Straight Talk podcast.
Mr Triguboff said immigration was vital to ensure the Australian housing market thrived in the long term.
“We need more immigration because if we have no migrants, it’s very difficult (to build),” he said.
“I can’t even imagine how we do it now. I say we would collapse.”
Meriton Group founder Harry Triguboff says Australia needs to increase its immigration numbers.
The developer, who was born in China, said Australia’s ageing population would mean the government had to consider alternative options on building prosperity, which extended to improving immigration opportunities.
“Life is so difficult in so much of the world that everyone would like to come here, not to destroy us, they just want to come live here,” he said.
“It’s a good place to live.
“So, if we want to run it, we must bring migrants.”
However, Mr Triguboff warned about the impact focusing on Chinese immigrants would have on the broader community.
“Chinese are wonderful migrants but if we bring many of them they will take over,” he said.
“They are all young, many Australians (are) old. They (the Chinese) will live longer.”
Mr Triguboff said it was important a broad range of cultures and citizens were granted the opportunity to live in Australia.
“We have to bring various types,” he said.
“I like Eastern Europeans very much because they know how to work, they are well educated and they would be good.
“I think South Americans are good too but we can’t just depend on one lot.
“Of course Chinese are the best, they have money, and they study and they’re young but we can’t depend on one type.
“If you talk about Vietnamese, or guy from Taiwan, they are still same as Chinese.
“There’s no difference between them.
“We still have to make sure that we have all kinds and they themselves want all kinds.”
Mr Triguboff said it was important Chinese immigrants remembered why they decided to come to Australia.
“If they love themselves so much to be Chinese, why did they come in the first place – because we have a better way of life, that’s why,” he said.
Australian businessman Mark Bouris sat down with Harry Triguboff for his podcast Straight Talk.
During the conversation, Mr Bouris reiterated his guests’ views on immigration, stating it was important there was “a proper mix” allowed to immigrate.
“In order to solve this housing crisis, it’s not about immigration but about getting the right mix of immigration,” Mr Bouris said.
“But it’s also about (getting) everyone into the room somewhere together; banks, rule makers, regulators, they’ve got to get people who make decisions about planning, probably some governments and developers as well to tell them the reality of how this all works.”
Mr Triguboff, who was born China to Russian parents, is understood to be Australia’s fourth richest person.
In a statement, Meriton Group said Mr Triguboff’s comments in the podcast reflected his respect for Chinese migrants and their values.
“Mr Triguboff’s recent comments on migration were part of a broader discussion highlighting the vital role migration plays in Australia’s growth and the contributions of various communities to the nation,” the statement read.
“They were not intended to address any geopolitical issue.
“Mr Triguboff, who was born in China and spent over a decade of his early life there, maintains a deep connection to his birthplace and an enduring appreciation for its culture and people.
“This personal history shapes his perspective and underscores his recognition of the shared cultural and historical ties and similarities that sometimes transcend borders.
“In the podcast, Mr Triguboff expressed his enduring respect for Chinese migrants, recognising them as hardworking, entrepreneurial, and deeply committed to education.
“However, he also reaffirmed his advocacy for a balanced and diverse migration approach, which he believes would better serve Australia’s long-term interests.”