The property industry has been hit by the introduction of a new biotechnology company.
The company, Life Technologies, is based in Australia’s Sunshine Coast.
It is one of the largest private equity firms in the country.
Life Technologies bought out Biogen in May 2018, making it the largest publicly listed biotechnology firm in Australia.
But in December 2018, Life Technology bought out a second biotechnology business, Fidelity, which is based just outside Brisbane.
Life Technologies bought Life Technologies in November 2018 for $5.9 billion, making Life Technologies the third-largest property company in Australia, behind Melbourne-based Cottrell Group and Adelaide-based TPG.
The Biogen acquisition has put Life Technologies at the forefront of a global property sector, where property management companies and biotechnology companies have grown rapidly.
The Australian Property and Land Industry Association estimates that the industry is worth $2.7 billion a year, or about $9 billion annually.
That’s a huge amount of money and it is changing the way the industry operates, said Paul McGreal, director of the APLIAA.
It’s about people being able to say, ‘I can afford this, I’m doing the right thing for my business, I’ve got my team, I have the right skills, I know my customers’.
Paul McGreal is director of Australian Property & Land Industry Australia.
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