Last year, we had to move our AGM online in the aftermath of the atrocities committed by Hamas on the State of Israel on October 7th. As a community, we were in shock and mourning as we processed those horrific events. At that time, we were understandably reluctant to meet in gatherings of large groups.

Just over a year later, we have seen our community gather in numbers like never before. During the last year, synagogue attendances have increased, particularly on the high holydays, and there have been numerous occasions when thousands of members of our community have come together, most notably the event at Christison Park on the anniversary of October 7th when 12,000 of us came together to honour the memories of those victims of the most horrific day for the Jewish people since the holocaust.

Imagine if we would have been able to gather as a community on our own land at Hakoah.
As a community, we now face levels of antisemitism that none of us have experienced in Australia. Sadly, this is now a phenomenon that all Jewish communities around the world are experiencing.

Consequently, the desire to be together as a community has never been stronger. The reason we decided to embark on this ambitious project was for the purpose of re-creating the hub of Sydney’s Jewish community so we could all do the things we love to do, together. Hence, our Hakoah brand – “Life is Better Together”.

In my address last year, I said, “That focusing on the future gives us strength as a community.” Time since then has only made that statement even more poignant. Our mission is to deliver the new Hakoah Club as a safe and secure campus for our community for sport, cultural and social events, food, and the joy of just being together.

Given the environment we all now find ourselves in, the rationale to build Hakoah at White City has never been more important than it is today.

As you know from our updates, this project has faced significant construction challenges along the way. I am sure many of you have seen some of the press coverage, which I can assure you only serves as a small glimpse of the challenges we as a team have had to confront. However, I am pleased that this now seems behind us as we have now commercially settled with the previous builder, Parkview Constructions.

As you are well aware, the construction marketplace has been characterised by continued cost and resource pressures on the sector, and this has been the case since we began this project. Numerous building companies have gone into administration over the last few years, which has added pressure to the subcontractor market. So, this is the environment we find ourselves in.

As announced in September, after a targeted tender process run by our Development Committee, the Board engaged Richard Crookes Constructions in an Early Contractor Involvement Agreement. We are working well with the Crookes team in a collaborative partnership that is already adding value to the project.
I was hoping to have more information for you today to give you a clearer understanding of re forecast cost to complete and timing of the project. Unfortunately, the complexity of taking over a partially built project and the tight timeframe between Crookes taking over and tonight’s AGM proved too challenging. Together with the Crookes team we are currently reviewing tenders in the various subcontractor trades. This process is not yet complete as we look to value engineer the project to get the most efficient outcome.

During the period of pause in construction our team identified improvements to the design of the project, including a more efficient layout of the interior of the club as well as significantly enhanced children’s play areas. A planning modification has recently been lodged with the authorities. We believe that these modifications will not only improve member experience but also enhance revenues for the club.

We now believe that we will be in a better position to inform you of the expected cost and timing to complete the project early in the new year, at which time we plan for construction to recommence. In the meantime, pre-construction preparation and early works will continue.

The Board does, however, feel a responsibility to be as transparent as possible and inform members that indications are that project costs will increase materially from the $93m mentioned at last year’s AGM. Project completion is now expected to be in the first half of 2026.

Whilst I would have much preferred to deliver better news, you can be assured that your Board and Development Committee takes full responsibility, and we are working as hard as possible to restart the project and get the best outcome for the community.

Clearly, additional funds will need to be raised. My family remains as committed as ever and will play its part by significantly increasing its donation. Additional donor and membership funds will also be needed as well as bank borrowings. We originally intended to avoid bank borrowings, but it feels given the quantum likely required, this will be necessary. With the revised plan and the consequential expected increase in revenues we will also be in a better position to service any interest costs.

Due to the heightened security environment subsequent to October 7, the club made additional grant requests to both the NSW State and Federal governments to assist with enhanced security infrastructure and technology required. I am pleased to announce tonight that the NSW Government has agreed in principle to a $2.5 million security grant in addition to the existing $12.5 million grant in place for sporting infrastructure. I would like to thank Premier Chris Minns, Minister for Sport and Multiculturalism Stephen Kamper, and Treasurer Daniel Mookhey for their leadership in recognising this need and assisting in keeping the community safe.

Whilst the position from the Federal Government is less clear at the moment, I am pleased to announce that the Opposition Leader, Peter Dutton, has informed the Club that should a coalition led government be elected at the next election, they would join the NSW Government in funding Hakoah’s heightened security requirements and fund up to $6m for necessary security infrastructure. I thank Peter Dutton very much for his understanding and continued support of the Jewish Community.

Notwithstanding the pause in construction, Andy and Rachele have kept all our commercial partners for the Gym, Learn to Swim, and Multi-Use Court operators fully informed as we have dealt with the challenges presented by the termination of our previous builder and the consequential delays. I am pleased to share that all those partners remain committed to the project despite the challenges. I am confident that we have chosen partners who share our vision and values to deliver a world-class facility and experience for our community.

Our communal partnerships with CSG, Shalom, and Maccabi remain strong. They also remain committed to our shared vision as we have navigated the challenges of the last twelve months. Inspiring Jewish identity will always be a fundamental goal of Hakoah. I want to thank our foundational community partners for their patience and passion for this project.

We look forward to working with them in the coming year to deliver wonderful community content and experiences when we are open in 2026.

We have made significant progress to deliver high-quality kosher and non-kosher food options. As you can imagine, executing this has been a complex task and we now have a much better understanding of the issues involved. I anticipate sharing more details in the first half of 2025.

I want to express my deep appreciation to the Hakoah Board, the Development sub-committee and our executive team, who work tirelessly to make this bold and transformative project the future hub of the Sydney Jewish community.

On a personal note, this year has been extremely difficult for our team. They are working for our members and the entire community, and I personally observe their dedication and commitment. There is no doubt that this comes at a personal cost to their businesses and families. I am very grateful to them and proud to work with them and I am convinced that together we will overcome these challenges.

Thanks to the community for embracing this exciting vision and putting your trust in us. Hakoah means strength—we are a strong community and will become even stronger and more united than ever.

I conclude my address with a prayer for the safe return of our 101 hostages, the return of tens of thousands of Israelis back to their homes in the north and south, the safety of the IDF and for the healing of around 12,000 injured soldiers.

I now open the floor for questions or comments.

This concludes the business of the Fifty-Fifth Annual General Meeting. Thank you for your attendance; I now declare the meeting closed.