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Owners Of $1 Billion Queensland Construction Giant Condev In Tears As it Goes Into Liquidation


The owners of construction giant Condev have broken down in tears as the market and material costs threaten the company’s survival.

Daily Mail confirms that owners Steve and Tracey Marais spoke at the builders Gold Coast headquarters on Wednesday stating the ‘ink isn’t yet dry’ but confirmed that the company is formally in liquidation.

‘We advised our staff there was no need to come to work today but there’s so many here. It’s like being at a funeral,’ Ms Marais revealed at the press conference.

‘We believe that if people stand together the impossible is possible… we still believe that they [the developers] don’t understand what they’re doing,’ Ms Marais said.

‘We really do believe that they don’t understand the market enough.’

She said the builder had been battered by a ‘perfect storm’ of soaring material costs, staff shortages, caused by Covid, as well as bad weather.

Daily Mail further confirms that the developers on the firm’s projects have agreed to finish them and pay any outstanding subcontractor fees.

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