Jason Dao found his interest in property development at a young age. He became wholly engaged in the industry when he purchased his first investment property in 2006, with the objective to make annual purchases to further expand his portfolio; this process continued for three years and allowed him to gain “valuable experience” and knowledge from investors and developers. In 2009, Dao sought to change his business strategy. “I was always reading and participating in property forums, as well as actively attending property seminars where I met a lot of great people.
Due to my experience and knowledge in property, I was approached by a fellow investor who later became a client. He was looking to invest in Brisbane as he saw there was opportunity and asked me if I could project manage for him. I was a bit surprised and taken aback, but I thought why not just give it a go. So, I completed the first project, and he was more than happy with my services and the way I communicated and delivered the project successfully. He later suggested that I turn it into a business and I thought to myself, ‘Who would actually need these services?’ After further deliberating, I thought maybe certain people out there do need this. It was then that Ultra Property was established.”
Since its conception, Ultra Property Developments has avidly catered to the specific needs of clients; they provide all the services and tools needed to “take the project from concept to completion,” including “site investigations, obtaining development approval, and consultant co-ordination.” Each project incorporates specifically selected Brisbane-based architectural and building design consultants with the ability to “think outside the box” and optimise the use of the work site to “achieve a functional design and space for the end user.” The ultimate goal is to make each individual project stand out from its competition and attract potential buyers as a result. An energy consultant provides additional sustainable value, ensuring that a 5-6 Star energy rating is achieved through “the overall design, window placements and fans,” optimising energy efficiency and guaranteeing the overall comfort of potential homeowners.
Ultimately, the company’s mission is “to provide a personal service to clientele and to deliver bespoke projects where all stakeholders, including consultants and suppliers, can be proud to be a part of.” Dao and his associates understand the importance of maintaining strong working relationships with clients, consultants and suppliers, especially in relation to successful repeat business. “Ultra Property would generally work with the same suppliers and consultants on multiple projects,” he says. “Therefore, we have a mutual understanding of how each party works which, in turn, ensures that all milestones throughout a project are efficiently met and completed smoothly. It is also essential to deliver and maintain clear communication so that everyone understands their role within the project.”
One of the main issues the company currently faces is the availability of suitable building sites for their projects, due to their increased costs and compromising quality. Not much can be done in this regard, according to Dao, other than remaining “patient and diligent when finding suitable sites.” However, there is also a growing issue throughout the industry in the fluctuation of construction costs. “This will need to stabilise in order to keep developments going. Banks may also look at tightening up on their lending criteria to developers – but, also buyers, due to the supply stock levels. We could have the lowest interest rates ever in history; however, it will not help if banks aren’t lending.”
Despite any potential setbacks, Dao remains confident in the future of Ultra Property Developments; they are currently halfway through completion of a project that will heed 7 apartment buildings while simultaneously project managing two custom homes, and searching for two medium-sized sites for a unique 15-dwelling project. “We’re also looking forward to creating something different and iconic for the next project to come,” he says.