Greek Australian property developer Jim Raptis is poised for business comeback with plans for an apartment project at Labrador, Gold Coast, two years after his building empire crashed with $1 billion in debts.
Creditors of his failed company Raptis Group are still owed nearly $1 billion, however the businessman said the Raptis Group could be in a position within the next three months to announce its first project since the 2008 collapse.
Mr Raptis, who has been “frustrated” by delays in getting the listed company back on track, told the Bulletin the Labrador project would be a private development with an undisclosed joint-venture partner.