Tim Gurner, Founder and Chairman of diversified property and lifestyle group Gurner Group, has today announced the appointment of Ahmed Fahour AO as Group Chief Executive Officer.

Previously the managing director and CEO of Australia Post, nab/MLC and most recently Latitude, Fahour joins Gurner Group at a pivotal time in the brand’s evolution as it solidifies its presence as one of Australia’s largest private property, funds management and lifestyle platforms with a $14.6billion portfolio across six distinct divisions.

Terms of the deal are undisclosed, but it is believed that in addition to running the Group of companies alongside founder Tim Gurner, Fahour will be making a minority investment in the fast-growing property, lifestyle and funds management platform.

With Fahour appointed as Group CEO, Founder and Chairman Tim Gurner will be focusing on the Group’s future direction around its core business of wellness, hospitality, design, Property management, funds management, Build-to-Sell (BTS) and Build-to-Rent (BTR) property development.

In 2019 Gurner announced its strategic intent of focusing the group into a capital-light fund manager of luxury living and lifestyle, with this step forming a key part of the strategy to grow and corporatise the business.

The Gurner Group is well positioned for further growth, focusing on the major opportunities:

1. Delivering new homes to close the large housing gap in Australia, which is estimated to be a shortfall of 175,000 homes according to ABS data
2. The ageing population in developed markets creating a unique offering to serve the wellness and preventative care segment, and housing
3. Matching the $4 trillion savings market (inc. super) with asset opportunities to deliver attractive risk-adjusted returns, with the funds management offering In 2023 alone, despite industry headwinds, the Gurner Group announced over $300m worth of land acquisitions across its BTR and BTS platforms, which added a further $1.9 billion worth of total project value to its pipeline and is expected to take advantage of a fragmented market into 2024 with a significant amount of capital still to be deployed.

This year also saw the Group announce its investment back into the wellness industry with private wellness club Saint Haven launching its inaugural location in Collingwood, which has over 4,800 people on a wait list and more locations soon to be announced.

With the wellness industry now four times the size of the pharmaceutical industry, Fahour and Gurner hold significant ambitions for this division, focusing on accelerating growth while rolling out a series of new brands under the Group’s wellness banners.

Fahour will wind down his other client commitments and from 2024 lead the 200-plus strong team across the Group, which has offices across Australia and a national brand presence.

Gurner Group Founder and Chairman Tim Gurner said "It is extremely humbling to announce Ahmed’s appointment today after watching him lead some of Australia’s largest private and public companies for over 20 years.

“ Ahmed’s appointment is in line with our strategic plan we set in 2020; to continue to grow and diversify the group and begin to corporatise the business without losing the flair, creativity and innovation that has made the brand what it is today.

“ We are serious about the ongoing transformation of the Group into a capital-light investment and funds management house, while realising the enormous potential of our other business divisions, added Gurner. 

“ As a founder and entrepreneur, I found myself spread across so many divisions and competing interests with less time to focus on the things I truly enjoy the most – and am good at – so, after an amazing 10 years of growth and diversity into new sectors, it was time to bring someone in with complementary strengths and skills to mine, allowing us to move into the next stage of the Group’s evolution together.

“ Driving this next phase needs the leadership of a strong and experienced Group CEO so I feel extremely honoured to be able to announce Ahmed’s appointment to the business.

“ Ahmed is a true gentleman, and someone whose career I have watched over the years with much admiration and respect – I know he will help us take the business to the next level in coming years.

“ Ahmed’s appointment will allow us to continue to focus on transforming our business into an institutional-grade diverse group of companies.

“ I am excited to be able to again dedicate more time to new business opportunities and acquisitions, creating and identifying the trends and opportunities that have allowed Gurner Group to become the company it is today, while retaining that entrepreneurial DNA that has allowed us to set new bars and explore new ways of doing things since our inception.”

Gurner Group Chief Executive Officer Ahmed Fahour said " It was important in this next chapter of my career to work in the private sector with a business and people who have drive, ambition, creativity and a strong sense of commerciality. Tim brings all of this and more.

“ He is an innovator and a futurist in his vision and by working together I believe the Gurner Group can achieve sustainable long-term growth while maintaining the family values that have been built since the company was founded, commented Fahour. 

“ There are three major structural factors driving the Australian economy at the moment that Gurner Group is poised to capitalise on more so than any other business in the country, being the significant undersupply of housing, our ageing population, and the opportunistic superannuation capital that is searching for deployable investments.

“ The true value of Gurner Group lies in evolving a platform to deliver tangible solutions to those structural opportunities. Gurner is an alternative Asset Manager with significant growth opportunities.

“ Innovation and growth, grounded in operational excellence, will be the core to the Group’s evolution over the next decade. We will expand the portfolio and deliver this growth while maintaining the core Gurner Group values that have allowed the business to achieve its success so far.

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