Deicorp : Sydney’s Trusted Property Partner

Since last speaking to the company in 2022, Deicorp has further cemented its position as Australia’s leading transport-connected property developer. Fouad Deiri, Founder and Chairman, and Robert Furolo, Director of Marketing, highlight how the business is committed to delivering Sydney’s retail and residential needs with a modern and innovative approach.

SYDNEY’S TRUSTED PROPERTY PARTNER

Australia is home to some of the most enviable and structurally exceptional builds in the world, such as the spectacular and architecturally ambitious Sydney Opera House that adorns the waters of the harbour, and the regal and symmetrical beauty of Parliament House, located in the heart of the capital, Canberra. 

Construction of the latter was an impressive and forward-thinking feat, positioning Parliament House as one of the largest buildings in the Southern Hemisphere and costing upwards of AUD$1.1 billion upon completion in 1988.  

Meanwhile, the erection of the Sydney Opera House took years of determination and intricate planning, becoming a story of dedication and strength. 

The infamous structure was designed by Danish architect, Jørn Utzon, whose early, innovative designs caused a multitude of issues and major delays in the eventual construction of the building. 

The initial blueprint of the iconic landmark was split into three stages, the first of which was to build and position the concrete base of the structure. This was followed by the assembly of the curved shell of the roof, before finally fitting the interior and vital theatre machinery. 

The full construction process spanned an arduous but incredible 14 years, from 1959 to 1973. 

Yet, the perseverance of over 10,000 workers and their use of contemporary equipment – being one of the first structures built using computer models and data collection – meant that the Sydney Opera House was able to overcome numerous economic and construction adversities. 

The enduring brilliance of this landmark, as well as the magnificence of Parliament House, represent a history of tenacity, dedication, and expertise that has permeated through the Australian construction industry. 

It is these characteristics that are the hallmark of Deicorp, a privately-owned property development and construction group that stands out in the industry for its quality, design and customer-centred approach to business. 

The company stands apart from its competitors thanks to its commitment to ensuring the best possible experience for its purchasers, and by keeping them fully informed throughout construction right through to delivery of their new apartment. 

Above all, Deicorp delivers on its promises, and has become a trusted name in the design, development, and delivery of residential, retail, and commercial projects, having completed over 10,000 apartments across more than 40 Sydney suburbs.

AN INNOVATIVE HISTORY

Celebrating its 25th anniversary this year, Deicorp specialises in the delivery of contemporary residential apartments, utilising industry-leading designers and completely integrated construction and development operations. 

The company was established by Fouad Deiri in 1999, who strived to combine his skills as a builder with his passion for development.  

He commenced his career as an apprentice carpenter, learning the fundamentals of building and construction, before progressing through the ranks of one of the biggest construction organisations at the time to become a leading site manager. 

After gaining valuable experience, Deiri eventually established Deicorp, and following the completion of his first residential project in Newtown, commenced a mixed-use project in the Sydney suburb of Petersham.  

“From the outset, the ambition for Deicorp was to deliver great homes for our purchasers and to create a business built on integrity and professionalism,” Deiri opens. 

“Through attention to detail, a strong construction focus, and hard work, our projects continued to grow in scale and complexity.” 

Today, the company has taken Deiri’s ambition to new heights to become one of the most respected integrated construction and development companies in Sydney. 

This is highlighted by one of Deicorp’s flagship projects, the ambitious South Village Kirrawee (South Village) which was completed in 2016.  

South Village comprises 779 apartments together with 14,000 square metres (sqm) of retail space, and a 9,000 sqm park and playground area. With its close connection to the nearby Kirrawee train station, South Village created a vibrant new precinct within walking distance of the town centre. 

“This project significantly elevated Deicorp’s reputation for delivering large mixed-use projects, so much so that the company has been ranked as Australia’s 10th largest construction organisation for two years in a row,” according to Deicorp’s Marketing Executive, Robert Furolo. 

A WINNING WORKFORCE

The Australian property development sector in 2024 is emerging from a number of turbulent years caused by rising interest rates, inflation pressures, shortage of skilled labour, not to mention the lingering effects of the COVID-19 pandemic, all of which has put pressure on the entire construction industry.  

Competition for skilled labour from large infrastructure projects, combined with the rising costs of capital and materials have made feasibilities for residential projects much more difficult. Together with the systemic delays caused by a planning system struggling to keep up, the environment for builders and developers is extremely challenging.  

However, Australia is also facing a serious housing crisis. A chronic undersupply of housing over the past decade combined with strong migration rates in the years following the COVID-19 restrictions are seeing rental and home values soar. Despite the strong and growing demand for homes, completions of new dwellings are near the lowest levels in over a decade, adding to the price pressures for homebuyers and renters. 

Combined, these factors are putting the construction sector under enormous pressure, with several high-profile construction companies being forced to shut down.   

Yet, against the backdrop of industry challenges, Deicorp and the strong network of sub-contractors, suppliers, and partners continue to deliver new homes into the market to meet the growing demand. The company’s success is built on the seamless integration of its construction and development teams, the experience of their senior leadership group, and the vital support of a loyal network of suppliers and subcontractors.  

In fact, Deiri recognised the importance of working with a group of experienced professionals from the company’s very first project. More than two decades later, this remains a priority for the business and is one of the hallmarks of the Deicorp team. 

The company has been able to grow the scale of its projects with the assistance of long-serving and highly experienced construction and project teams. The skills and experience of those in the business enable the company to ride the wave of industry challenges with a capable and loyal workforce.  

Several of the senior construction team have been working with Deiri since the inception of Deicorp. Their insights and experience give the company a breadth of knowledge that helps it deliver exceptional buildings of the highest quality. 

Thus, an experienced workforce has become indispensable in helping the business become one of the most respected and successful in the industry. 

“With the help of a dedicated team of industry professionals, Deicorp has grown to become one of the largest construction organisations in Australia, and we have gained an enviable reputation for integrity, quality, and strong corporate values,” Deiri emphasises. 

The company’s systems have been designed to meet the highest standards, having achieved the certification requirements of the International Standards Organisation (ISO) in management, environment, and safety systems. It’s one of the reasons the Deicorp team is recognised throughout the industry for its professionalism and expertise.   

The company applies a family-focused approach to its business partnerships, working with trusted and respected organisations in a collaborative and considered way to ensure the success of every project.   

Its family-centric approach stems from an understanding of the intrinsic value and importance that housing plays in the lives of people, and describes its mission as ‘building the homes that Sydney wants and needs’.  

“During the 2024 calendar year, we will be handing over the keys to more than 1,000 new apartments to their excited owners,” Furolo states.

PROVIDING LUXURY AND COMFORT

Deicorp emphasises style, convenience, and comfort in each project, with a flexible, forward-thinking approach to ensure that every home stands the test of time.  

Furthermore, operating as both a developer and builder, the company ensures accountability for its purchasers. This is particularly pertinent given that Deicorp has been operating under the same building license since its inception nearly 25 years ago.  

It also means the company’s clients have confidence and peace of mind knowing they are dealing with a trustworthy and transparent team.   

The company has built an excellent reputation for residential, commercial, and retail property projects, delivering beautiful new communities in the best locations across Sydney. 

Moving forward, Deicorp, together with its trusted and professional partners, suppliers, and subcontractors, will play a key role in trying to meet the Australian government’s ambitious National Housing Target of 1.2 million homes across Australia in the next five years.  

“Housing supply is one of the most topical and challenging issues of our time, not only in Sydney, but across Australia and even internationally,” acknowledges Furolo.  

To help alleviate the pressures of the housing crisis further, the company has committed to the significantly important build-to-rent (BTR) initiative. Working with international funds manager, AXA Investment Managers (AXA IM), and leading community housing provider, St George Community Housing (SGCH), Deicorp will deliver a 400-unit BTR project. Half of the units constructed will be available as affordable housing for essential workers, rented at 25 percent below the standard market rate.  

The AXA IM and SGCH BTR project is immediately adjacent to another recently completed Deicorp project – Highline Westmead. Both are located in the heart of the Westmead Health Precinct – Australia’s largest health, education, research, and training hub.  

With the workforce at the precinct expected to grow to more than 40,000 by 2036, these projects could not be better located.  

Highline Westmead and the new AXA IM and SGCH BTR project are ideally situated at the junction of multiple transport networks. The existing T1 Western Train Line, the new Westmead station for Parramatta Light Rail network, and the under-construction Sydney Metro West Station all combine to make it one of the best-connected residential projects in the city.  

The Highline Westmead apartments are designed by multi-award-winning architect company, Turner Studio, showcasing generous floorplans that flow through sweeping halls and spacious balconies, combining the luxury of indoor and outdoor living.  

Meanwhile, Deicorp has one of the largest pipelines of upcoming projects in the country, with nearly 4,000 apartments expected to start construction in the next 12 months. Upcoming works include the stunning Marquet and Mary project, located in the bustling Rhodes area. Working with the architecture firm, Fender Katsalidis, the skyscraper will include 213 luxurious apartments, a three-story basement, and an impressive 3,782 sqm of retail and commercial space.   

Elsewhere, the company has just started construction on its spectacular Melrose Central project, which will be home to a thriving community once it is completed. Residents living in the 494 apartments will enjoy a vibrant 30,000 sqm shopping centre that offers three levels of retail convenience, including child-care, a medical centre, and a great range of dining and café areas and supermarkets.

CULTIVATING CONVENIENCE

Accompanying the quality and style of its residential projects, Deicorp also creates vibrant new village communities, with great food and beverage retailers adding to the lifestyle and enjoyment of residents.  

With essential services including gymnasiums, alongside medical and childcare centres, the communities also offer a range of employment and small business opportunities to further enhance residents’ idyllic lifestyle.   

The soon-to-open Tallawong Village is a perfect example of the life of convenience provided by a Deicorp project. Supermarkets, grocery stores, cafés, restaurants, and a one-stop government service centre bring vibrancy to residents and the broader community.   

Residents of Tallawong Village enjoy the benefits of everything they need just an elevator ride away, combined with the convenience of easy and regular transport via the Tallawong Metro Station on their doorstep.  

Another great lifestyle-led community is Deicorp’s Downtown project – an urban oasis that lets individuals, couples, and families bask in the best of inner-city living. Located in the heart of Sydney’s Zetland district, the building reflects the urban and contemporary feel of the suburb.  

Deicorp’s Downtown provides easy access to the city’s central business district (CBD), as well Sydney’s world-class sporting venues, warm beaches, bustling restaurants, and trendy parks, all from your architecturally designed walkable village community.  

Finally, a recently completed building is the Proximity project, situated at Rouse Hill. As the name suggests, Proximity perfectly blends urban vibrancy with a serene retreat on the doorstep of transport and shopping conveniences.  

The Proximity project delivers masterful design to achieve a strong sense of interconnection, combining the lush greens of the Rouse Hill Regional Park and the Ironbark Ridge Reserve.

BUILDING STRONGER COMMUNITIES

Alongside a diverse variety of industry-leading and architecturally innovative projects, Deicorp takes its responsibilities as a corporate citizen very seriously, having a strong belief in community support and engagement.  

As testament to its unwavering, long-term commitment, the company has donated more than AUD$3 million to its charity partners over the past decade.  

“One of the enduring priorities for Deicorp has been to give back to the community, which is why we established our charitable donation programme, known as Deicorp Community,” Deiri confirms.  

The programme was created to support the overarching mission of building stronger communities, which reflects the company’s corporate values and goals.  

“Through Deicorp Community, we actively engage with respected local community organisations to help them deliver programmes and services to those in need.   

“From supporting homework and tutoring programmes for disadvantaged students, to funding community buses to help keep seniors, the frail, and disabled connected with their communities, Deicorp Community is helping those in need.”  

Additionally, the company also provides help to organisations like Police Citizens Youth Clubs NSW (PCYC NSW) to give young people a healthy breakfast and support children to participate in physical activity each morning.  

“Our programmes are designed to provide meaningful support to those in the community who need extra help, and we proudly aid the great work of trusted and respected organisations to deliver these important initiatives,” adds Deiri. 

Moreover, through the collective effort of the Deicorp team, the company was able to provide critical aid to its local hospital foundation at a time when it was most urgently needed.  

“Deicorp learned about a revolutionary new technique for treating epilepsy and brain cancers in children and adults. The new technique required specialist equipment, but no funding was available in the hospital budget.  

“Consequently, we rallied our friends and partners to be part of a special boardroom lunch, and through the donations and pledges from our guests, we were able to raise AUD$500,000 for the Westmead Hospital Foundation, which eventually enabled the purchase of the new specialised equipment,” Furolo proudly recalls.  

The equipment will enable major improvements to critical surgical procedures and enable those undergoing surgery to be treated and returned home the next day, rather than recovering in hospital for up to a week.  

“This achievement is testament to the generosity of our partners and friends who supported our efforts to purchase this life-changing equipment,” he adds.

GOING GREEN

From a sustainability perspective, the company also strives to be environmentally responsible across all of its project sites.  

For example, Deicorp’s latest Highline Westmead project is being designed and constructed in accordance with the Green Building Council of Australia’s Green Star programme.  

Developed by the Australian government, the programme is an internationally recognised rating system which sets the standard for healthy, resilient, positive buildings and spaces. Therefore, the company is proud of the fact its Highline Westmead project is registered to achieve a 5-star Green Building certification.  

In recognition of the company’s corporate social responsibility (CSR) and environmental social governance (ESG) practices, as well as its internal construction expertise, Deicorp has also been awarded the International Standard as set by the International Organisation for Standardisation (ISO).  

As such, the company has diligently met the quality management standards that ensure organisations meet customer and regulatory requirements, continuously improve their processes, and enhance customer satisfaction.  

Deicorp has achieved ISO certifications in areas of:  

• Quality Management Systems (ISO 9001:2015) 

• Occupational Health and Safety Management (ISO45001:2018) 

• Environmental Management Systems (ISO 14001:2015) 

Being awarded these certifications demonstrates its commitment to continuous improvement, helping design, develop, and deliver the highest quality apartments in the most renowned areas of Sydney.

TAKING HOLD OF INDUSTRY GROWTH

Thanks to the company’s dedication and forward-thinking design and construction, Deicorp is now positioned as a leader in the Australian construction industry and renowned within Sydney’s property development sector.  

This comes as the industry steadies following years of turbulence, with research suggesting that construction costs are set to stabilise. In turn, this creates a more open environment for new projects and greater confidence in the construction space.   

Furolo believes that the industry’s upward trajectory can be felt across the company.   

“The past few years have been challenging when managing the impacts of rising material and capital costs, labour shortages, and supply chain issues. Nevertheless, we have been busy delivering over 3,200 apartments, with several projects nearing completion,” he details.  

One such project that is nearing completion is the highly anticipated Rothschild Roseberry, which the Deicorp team has been working hard to bring to life. Designed by acclaimed architectural firm, Angelo Candalepas and Associates, the project will comprise 176 apartments across two buildings.  

Rothschild Roseberry will stand out thanks to its European-inspired design and appearance, featuring exquisite detailing, breathtaking landscapes, and picturesque spaces and cafés that are exclusive to the building’s residents.  

Recent progress on-site has seen the two basement levels completed, and work progressing on the main structure of Buildings A and B.  

Looking further ahead, the company has many exciting projects in the pipeline, including ambitious developments at the Hills Showground in Northwest Sydney. Once completed, the development will provide critically needed housing adjacent to the Sydney Showground in the form of 873 apartments across seven buildings, complemented by a landscaped 3,200 sqm park.  

Significantly, at least five percent of the project’s apartments will be classed as affordable housing, contributing to urban development and local community support.  

Consequently, the Hills Showground project, alongside a multitude of other forthcoming operations, further solidifies Deicorp’s reputation as the city’s leading builder of transport-connected developments and a key provider of Sydney’s property needs.  

“Our key priority for this year is to ensure we maintain the high standard of construction we are known for and deliver new apartments with the care and attention our customers want and expect,” Furolo concludes.

DEICORP PARTNERS