Walker Group has this week confirmed Founder and Chairman Lang Walker AO passed away on 27 January in the company of his family at his Sydney home.
The property titan has been directly involved in the development of a number of significant Australian developments – King Street Wharf, Woolloomooloo Wharf, Collins Square and Parramatta Square – and providing funding to a number of cultural and educational institutions.
Originally founded as an earthmoving entity, Walker Corporation has influenced much of the Australian built environment, becoming the largest privately owned property company on the continent. $9 billion worth of prime assets currently sit in the Walker portfolio, which will now be managed and curated by Walker’s executive team.
“Lang’s vision will remain an enduring force through the Walker DNA and the Walker Way which he actively passed on - it is embedded in our culture and our modus operandi.” says Walker Group Managing Director, David Gallant.
“The vital importance of business continuity and the need to maintain key relationships to retain our pre-eminent position has been instilled in all of us.”
Some $36 billion worth of developments in the pipeline will also be handled by the executive team, which was the subject of a transition period overseen by Lang before his passing. Extensive provisions and arrangements are now firmly in place to clearly define and govern the Group’s future.
Walker’s investment into Western Sydney is a defining feature of his legacy. The Walker Family Foundation was the first philanthropy partner to invest into Powerhouse Parramatta, providing $20 million to support the education of future generations in Western Sydney through the establishment of the region's first state cultural institution.
Walker Group says it plans to grow its investment portfolio to $20 billion over the next decade, building on some 1,200 projects developed by the Corporation.
