Greek Australian property entrepreneur Stephen Gaitanos is aiming to grow The Living Company (TLC) into a $100 billion real estate business, building on the success of student accommodation provider Scape.

Gaitanos co-founded Scape in 2013 after identifying an opportunity at the intersection of Australia’s education and property sectors. The business has since evolved into TLC, which now operates across purpose-built student accommodation, build-to-rent, co-living and retirement living.

The company employs around 2,300 staff, manages 40,000 apartments across 117 buildings valued at $20 billion, has raised about $10 billion in equity and secured $6 billion in debt financing.

Gaitanos described the growth as a “meteoric rise”, with TLC aiming to own and manage $100 billion in property.

He said the company’s strategy is built around operating residential communities rather than simply owning property, describing TLC as the “only fully integrated living platform in Australia, and perhaps the world”.

The company’s expansion accelerated with its $3.85 billion acquisition of retirement living operator Aveo in 2025, broadening its focus beyond student housing.

A law and commerce graduate from the University of NSW, Gaitanos spent almost a decade in real estate investment banking before deciding he wanted to “create something” rather than advise others.

He said his upbringing in a Greek immigrant family instilled a strong work ethic and a willingness to embrace risk.

“My parents pushed me, but they were also my biggest supporters and backers,” he said, adding that his upbringing fostered a “why not mentality”.

Reflecting on Australia’s housing challenges, Gaitanos said private investment would be essential to increasing housing supply, warning that unstable government policy could deter global investors.

“Capital is agnostic,” he said, “in search of the best returns.”

He argued that “the private sector will be the ones building and ultimately taking the risk”, while maintaining TLC’s private ownership gives it the flexibility to pursue long-term growth beyond the pressures of quarterly earnings.

Source: Greekherald.com.au