Discovery Land Company Explained

Discovery Land Company
Type:Private
Industry:Real Estate
Founder:Michael Meldman
Revenue:$1 billion (2015)

The Discovery Land Company is an American real estate development company and hospitality operator based in Scottsdale, Arizona. Founded in 1994 by Michael Meldman, the company mainly operates private residential communities and clubs in North America.[1] [2] In 2022, the company made public that they will follow an international expansion strategy.[3] [4] Discovery had an annual turnover of $1 billion in sales (2015).[5]

According to The New York Times, David Solomon, chief executive officer of Goldman Sachs, is a controlling part-owner of Discovery.[6] [7] Discovery, respectively Meldman, was involved in several lawsuits over the past years.[8] [9] [10]

History

Discovery Land Company was founded in 1994 by Michael S. Meldman with the opening of The Estancia Club in Scottsdale, Arizona, and then the Iron Horse project in Whitefish, Montana. The company has 35 properties in Hawaii, California, Arizona, Nevada, Idaho, Montana, Texas, Tennessee, New York, and North Carolina in the U.S., Los Cabos in Mexico, Great Guana Cay in The Bahamas, Dubai, and Portugal.[11] Discovery Land acquired land in 2021 to build Costa Terra in Comporta south of Lisbon in Portugal.[12] Opening in 2022, Driftwood Club is a project with a Tom Fazio designed golf course near Austin, Texas.[13] In 2022, the Two Lewis Road project is an East Quogue, New York property approved under Southampton Town Planning review.[14] Barbuda Ocean Club, planned to open in 2023, is a project with a Tom Fazio designed golf course on the island of Barbuda.[15]

Philanthropy

The Discovery Land Company Foundation primarily supports children in shelters and in foster care. The Foundation donates to trusted charities providing the best programs and mentors to assist youth.[16]

External links

Notes and References

  1. Development Newsmaker of the Year 2007 . Golf Inc. . March 21, 2007 . https://web.archive.org/web/20110710133506/http://www.discoverylandco.com/assets/13000/bgbwuev_1180033283.pdf . July 10, 2011 . dead.
  2. Leading Man . Luxury Living . February–March 2007 . https://web.archive.org/web/20110710133511/http://www.discoverylandco.com/assets/13000/oegtfc_1180033374.pdf . July 10, 2011 . dead.
  3. Web site: 2022-05-24 . Discovery Land Company Plans Global Expansion With Brett White and Michelle Ngo . 2023-05-15 . www.businesswire.com . en.
  4. Web site: Discovery Plans Global Expansion With Two High-Profile Additions . 2023-05-15 . Connect CRE . en-US.
  5. News: Developer Mike Meldman Is Real Estate's Party Boy . . January 14, 2016.
  6. News: Flitter . Emily . 2023-04-24 . Not Just a D.J., Goldman C.E.O. Also Dabbles in Luxury Real Estate . en-US . The New York Times . 2023-05-15 . 0362-4331.
  7. Web site: Cane . Jeffrey . Goldman Sachs' David Solomon invested in a luxury real-estate developer his bank failed to win business from . 2023-05-15 . Business Insider . en-US.
  8. Web site: Monahan . Shea . 2023-02-23 . East Quogue Resort Developer Beats Another Lawsuit . 2023-05-15 . The Real Deal . en.
  9. Web site: January 20, 2023 . Lawsuit filed over plan to build luxury golf course on Pine Barrens land . 2023-05-15 . News 12 - Long Island.
  10. Web site: Your Average Wall Street Friendship—Naked Sushi Girls Included . 2023-05-15 . airmail.news . en.
  11. Web site: 2023-12-20 . Discovery Land Company To Develop The First Ultra-Luxury Project in the Middle East, Discovery Dunes - Construction Business News Middle East . 2024-07-09 . en-US.
  12. News: On the Portuguese Coast, an Appealing Spot for Seaside Homes. New York Times. Vora. Shivani. 5 November 2021.
  13. News: Luxury homes, golf course club coming to Driftwood . Hays Free Press.
  14. RESPONSE TO PINE BARRENS COMMISSION STAFF REVIEW AND PUBLIC COMMENTS . Nelson Pope Voorhis. Voorhis. Nelson. 1 July 2020.
  15. News: The best VIP WFH Caribbean villas hitting the market now. New York Post. Ellwood. Mark.
  16. Web site: Discovery Land Company Foundation.

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