Malibu outraged after billionaire NZ brothers buy up sixteen burned-out lots

[1srelluc]

MSN

California locals are terrified that a pair of New Zealand billionaire brothers who snapped up land after the devastating LA fires will turn beachfront lots into mega-mansions.

The January 2025 blaze was the most destructive fire in Los Angeles history and burned down more than 6,800 homes and buildings across Southern California.

Malibu alone saw roughly 720 properties turn to rubble in the infernos, and one year later, residents of the once-luxurious celebrity enclave claim they are struggling to compete with developers to rebuild.

Toy tycoons Nick and Mat Mowbray purchased 16 wildfire-burned plots in Malibu using their tech company, which is investing in AI-designed mass-produced homes manufactured in China, according to KABC.

The New Zealand-based brothers are the founders of global toy empire Zuru, which pumps out some of the world's most popular toys - including Robo Fish, Bunch O Balloons and Mini Brands - and has since expanded into robotics, construction and household products.

The brothers, who reportedly plan to manufacture cut-price factory-built houses on the lots, want the homes to be available to customers within three years.

Marcel Fontijn, the director of operations at the Mowbray's company Zuru Tech, told the local news station: 'What's unique with our system, it's a fire-safe system. Walls are made out of AAC, which is a very lightweight concrete that has high insulated values, and the ceiling, the roofs are made of concrete.'

But Malibu City Councilman Steve Uhring told KABC he is concerned the brothers will combine the lots to build mega-mansions, making them unaffordable for residents who lost their homes.

Rebuilding appears to be slow in Malibu, where only 22 building permits have been issued since the fires.

Malibu locals fear that at the current pace, rebuilding may take more than a decade and have started putting their properties up for sale.

In October, experts warned that 'supply is exceeding demand' and lots are being listed at discounted rates of 20 to 60 percent, according to the LA Times.

At the time, around 75 lots had sold in Malibu since the deadly blaze, but sales were slowing down and 47 percent of the 160 remaining listed lots had dropped in price.

Well, better a mansion than a 15 minute city I guess.

What kind of people other than billionaires could afford to buy/build there?

 

[1srelluc]

ZURU Tech - Changing the way we build

ZURU Tech is the company that develops the first digital building construction system in the world. Come build with ZURU!

zuru.tech

A Zuru Tech home.

 

[Mashmont]

MSN

California locals are terrified that a pair of New Zealand billionaire brothers who snapped up land after the devastating LA fires will turn beachfront lots into mega-mansions.

The January 2025 blaze was the most destructive fire in Los Angeles history and burned down more than 6,800 homes and buildings across Southern California.

Malibu alone saw roughly 720 properties turn to rubble in the infernos, and one year later, residents of the once-luxurious celebrity enclave claim they are struggling to compete with developers to rebuild.

Toy tycoons Nick and Mat Mowbray purchased 16 wildfire-burned plots in Malibu using their tech company, which is investing in AI-designed mass-produced homes manufactured in China, according to KABC.

The New Zealand-based brothers are the founders of global toy empire Zuru, which pumps out some of the world's most popular toys - including Robo Fish, Bunch O Balloons and Mini Brands - and has since expanded into robotics, construction and household products.

The brothers, who reportedly plan to manufacture cut-price factory-built houses on the lots, want the homes to be available to customers within three years.

Marcel Fontijn, the director of operations at the Mowbray's company Zuru Tech, told the local news station: 'What's unique with our system, it's a fire-safe system. Walls are made out of AAC, which is a very lightweight concrete that has high insulated values, and the ceiling, the roofs are made of concrete.'

But Malibu City Councilman Steve Uhring told KABC he is concerned the brothers will combine the lots to build mega-mansions, making them unaffordable for residents who lost their homes.

Rebuilding appears to be slow in Malibu, where only 22 building permits have been issued since the fires.

Malibu locals fear that at the current pace, rebuilding may take more than a decade and have started putting their properties up for sale.

In October, experts warned that 'supply is exceeding demand' and lots are being listed at discounted rates of 20 to 60 percent, according to the LA Times.

At the time, around 75 lots had sold in Malibu since the deadly blaze, but sales were slowing down and 47 percent of the 160 remaining listed lots had dropped in price.

Well, better a mansion than a 15 minute city I guess.

What kind of people other than billionaires could afford to buy/build there?

Guys, you do NOT invade spaces of the leftwing rich. The environment is one thing, but this is completely different.

 

[odanny]

Who else but billionaires could buy up 16 burned out lots in Malibu?

Foreigners/non-citizens owning land in America should outrage all Americans, it's not your typical red/blue argument, it's non-citizens being able to own property here that is a problem.

China owns land, Saudi Arabia owns land.

 

[1srelluc]

Who else but billionaires could buy up 16 burned out lots in Malibu?

Foreigners/non-citizens owning land in America should outrage all Americans, it's not your typical red/blue argument, it's non-citizens being able to own property here that is a problem.

China owns land, Saudi Arabia owns land.

If Zuru Tech can pull it off their home construction might just be the wave of the future of fire hazard zone homes.

I really don't care what they cost to build, the selling price, or who buys them, it's better than CA seizing the land by imminent domain and selling it to a third party.

 

[odanny]

They have to be fire resistant, like this one.

 

[1srelluc]

Marcel Fontijn, the director of operations at the Mowbray's company Zuru Tech, told the local news station: 'What's unique with our system, it's a fire-safe system. Walls are made out of AAC, which is a very lightweight concrete that has high insulated values, and the ceiling, the roofs are made of concrete.'

 

[DGS49]

Do we all see the irony here? This area has been "exclusive" for generations, with homes only available to MILLIONAIRES (which today refers to people with a net worth of tens of millions), and now THEY are concerned that they will be priced-out, just like those properties were to normal Californians before the fires. Depends on whose ox is being gored? Is that the expression?

Parenthetically, the time is very ripe for some entrepreneurs to develop factory-prefab, low-cost housing that can be made available to working class Americans. I wonder if the new NYC Mayor would be willing to develop a piece of Central Park for this project.

 

[Independent thinker]

MSN

California locals are terrified that a pair of New Zealand billionaire brothers who snapped up land after the devastating LA fires will turn beachfront lots into mega-mansions.

The January 2025 blaze was the most destructive fire in Los Angeles history and burned down more than 6,800 homes and buildings across Southern California.

Malibu alone saw roughly 720 properties turn to rubble in the infernos, and one year later, residents of the once-luxurious celebrity enclave claim they are struggling to compete with developers to rebuild.

Toy tycoons Nick and Mat Mowbray purchased 16 wildfire-burned plots in Malibu using their tech company, which is investing in AI-designed mass-produced homes manufactured in China, according to KABC.

The New Zealand-based brothers are the founders of global toy empire Zuru, which pumps out some of the world's most popular toys - including Robo Fish, Bunch O Balloons and Mini Brands - and has since expanded into robotics, construction and household products.

The brothers, who reportedly plan to manufacture cut-price factory-built houses on the lots, want the homes to be available to customers within three years.

Marcel Fontijn, the director of operations at the Mowbray's company Zuru Tech, told the local news station: 'What's unique with our system, it's a fire-safe system. Walls are made out of AAC, which is a very lightweight concrete that has high insulated values, and the ceiling, the roofs are made of concrete.'

But Malibu City Councilman Steve Uhring told KABC he is concerned the brothers will combine the lots to build mega-mansions, making them unaffordable for residents who lost their homes.

Rebuilding appears to be slow in Malibu, where only 22 building permits have been issued since the fires.

Malibu locals fear that at the current pace, rebuilding may take more than a decade and have started putting their properties up for sale.

In October, experts warned that 'supply is exceeding demand' and lots are being listed at discounted rates of 20 to 60 percent, according to the LA Times.

At the time, around 75 lots had sold in Malibu since the deadly blaze, but sales were slowing down and 47 percent of the 160 remaining listed lots had dropped in price.

Well, better a mansion than a 15 minute city I guess.

What kind of people other than billionaires could afford to buy/build there?

Funny how they all cheered when a local lottery winner was buying up burned up lots all over the place.

 

[TNHarley]

Foreigners should nto be allowed to own land. If they want to own land, they need to become a citizen.

 

[drudge X]

Blame Newsom for playing politics.
When the state is issuing permits to rebuild at a slower pace than snail, the owners will sell to the highest bidders. Take the money and run. Now, the problem is going to get magnified. Housing will cost more and locals who are renting or looking to buy will get priced out. The state only cares about the property tax revenues.

Do leftists still believe Democrats are looking out for the little people?

 

[1srelluc]

Foreigners should nto be allowed to own land. If they want to own land, they need to become a citizen.

LOL....Good luck with that!

 

[TNHarley]

LOL....Good luck with that!

I know. I want a lot of things lol..