John and Michael Chow appear to be shaking off the “brothel barons” tag and emphasising their property interests as they push towards an ambitious goal of a portfolio worth $US740 million by 2020.
The pair made their first public speaking appearance last year at a conference for Chinese and are making themselves known in the property world with speaking engagements in those circles.
This past year has been quieter than others but the duo is heralding the success of an outdoor food court and retail complex on Wellington’s Willis St. The development was nominated for a Property Council award.
While John Chow says he and his brother have bought some additional properties in Auckland, it appears progress in the big city is patchy, with the duo abandoning plans for a super brothel on the former Palace Hotel site.
They managed to sell the site for $7 million to Conrad Properties, more than double the $3.3 million they paid in the first place.