Raptis Group to resume trading

first_img Facebook Twitter: @NeosKosmos Instagram As the Raptis Group prepares to resume trading on the stock exchange, developer Jim Raptis has been given a surge of confidence with numerous messages of support. “I’ve had contractors ringing me saying ‘congratulations, it’s been too long’,” Mr Raptis told the Gold Coast Bulletin.“People are consistently ringing me saying ‘it’s good to see you back’.”After millions of dollars in losses and a six-year exodus, the Raptis Group held its first general meeting in Sydney on Thursday. But this time, the developer says he will be taking a different approach.“I will be telling shareholders that we have been working towards this point (relisting) for the last few years so I can fulfil my obligations to shareholders and creditors.“I will say we have tried hard to deliver what we said we would and we are almost there.”Known for high-rise projects including the Gold Coast’s Hilton Hotel, Southport Central and Chevron Renaissance, the group will now turn its attention to smaller projects. “I will be focusing on low- rise and medium-rise projects, not super skyscrapers,” said Mr Raptis.“The new model is to start and finish a project within 12 months and not carry too much debt; the aim is slow, steady growth.”The group’s first project to relaunch it into the market is set to be the construction of 60 townhouses on a 12,000m2 site in Springwood, expected to commence in early 2016 with a value of $25 million.If all goes to plan and the company garners shareholder approval, Mr Raptis hopes the group will be trading on the ASX within the fortnight. Source: Gold Coast Bulletinlast_img read more