Australian Securities and Investments Commission data shows that in the nine months to the end of March, more than 2000 construction companies entered administration and represented the greatest number of company failures, accounting for nearly 27.7 per cent in that period.
According to now-deleted content on Bensonsā website, one of its core values is integrity, stating it will ādeliver on our promises, on the homes that we create, which are dependable and reliable, and built on timeā.
Property developer Elias Jreissati in 2002.Credit: Viki Lascaris
Bensons, founded in 1994 by self-made developer Elias Jreissati, focused on building large and luxurious apartments blocks in Victoria, Queensland and Tasmania.
This included Chevron One, touted as the first high-rise residential tower on Chevron Island in Surfers Paradise, with 41 levels and 236 apartments.
In Armadale, in melbourneās inner south, Bensonsā Society Armadale homes were described as a āprivate sanctuaryā that would āstand the test of timeā.
In a statement, Bensons said it believed voluntary administration offered the best opportunity to āget through this period and come back strongerā during an extremely difficult time for developers.
Jarvis Archer,…
