Developers’ billion-dollar spend could transform the Hills

Meet the property mogul cousins who have bought up $2bn worth of shopping centres — and may well have purchased your local strip. SEE WHAT THEY OWN

developers

They are the development moguls who have bought over $2 billion worth of property in Sydney’s Hills District — and they may well have snapped up your local shopping strip.

Cousins Charbel Hazzouri and Anthony El-Hazouri, who founded development firm Revelop in 2008, have purchased a massive 22 shopping centres and childcare sites in The Hills in a multi-billion dollar spending spree, with more than $5 billion invested in commercial and residential sites in Greater Sydney.

Revelop now owns Box Hill Village, Dural Village, Dural Town Centre, West Pennant Hills Woolworths, Stanhope Village Shopping Centre, and Rouse Hill Plaza, as well as numerous childcare centres in the region.

The family also owns Grove Square in the Hills, formerly Stockland Baulkham Hills Shopping Centre, under Mintus Investments, run by Mr Hazzouri’s brother Mel.

But what does it mean for the future of The Hills?

Speaking exclusively to The Hills Shire Times, managing director Charbel Hazzouri has revealed his vision for his slice of the booming northwest Sydney real estate juggernaut, hoping to breathe life into the local shopping centres that have been under-invested in — without turning to residential development.

“The Hills District is home for us, we were born and raised here, so our connection to the area runs deep,” Mr Hazzouri said.

Our Founders

Founders Anthony El-Hazzouri and Charbel Hazzouri are ground breakers in an always-evolving environment. Even through volatile times, Anthony and Charbel synchronised their talents to drive REVELOP into the industry leader it is today, with initiative, skill and experience across national and international markets.

Charbel Hazzouri

Revelop co-founder and managing director

Anthony El-Hazouri

Revelop co-founder and managing director

“We strongly believe the Hills represent one of the most significant opportunities in Sydney.

“Historically, it has been under-served, particularly in the provision of high-quality, convenience-based retail.

“We identified this gap in the market and saw the chance to address it.”

The major property firm directors shed light on plans to redevelop the dated shopping strips into glitz new retail hubs while removing plans for a residential takeover of Box Hill Village Centre.

The original blueprints were set to include a swath of residential development, but Revelop removed it as part of retail-focused vision for the Hills.

“Rather than pursing residential, we have taken deliberate steps to preserve our sites for pure retail,” Mr Hazzouri said.

Garthowen Cres

Revelop has also been investing in childcare centres in the booming family area, with the centre at Garthowen Cres, Castle Hill pictured. Picture: Supplied

As a result, Revelop is looking to significantly upgrade multiple shopping centres throughout the Hills, to provide “community-based service hubs” with a complete mix that supports everyday life.

“We want our customers to find our centres so convenient and reliable that they become their first choice,” Mr Hazzouri said.

“This means ensuring easy parking, high-quality amenities and best-in-class services across the board.”

“By focusing on what the community needs most and delivering it to the highest standard, we create centres that genuinely serve and strengthen the Hills community.”

THE PROPERTIES SNAPPED UP BY THE HILLS BUILDING MOGULS

BOX HILL VILLAGE

MOGULS