Homes under construction hang in balance as Bensons Property Group enters administration

According to now-deleted content on Bensons’ website, one of its core values is integrity, stating it will “deliver on our promises, on the homes that we create, which are dependable and reliable, and built on time”.

Bensons, founded in 1994 by self-made developer Elias Jreissati, focused on building large and luxurious apartments blocks in Victoria, Queensland and Tasmania.

This included Chevron One, touted as the first high-rise residential tower on Chevron Island in Surfers Paradise, with 41 levels and 236 apartments.

In Armadale, in Melbourne’s inner south, Bensons’ Society Armadale homes were described as a “private sanctuary” which would “stand the test of time”.

In a statement, Bensons said it believed voluntary administration provided it the best opportunity to “get through this period and come back stronger” during an extremely difficult time for developers.