The Puljich family has minted a $433.1 million fortune after debuting land-lease property developer GemLife on the ASX, the seventh float for the local market in the past fortnight.

GemLife, founded in 2015 by the family that pioneered in Australia the housing model of leasing land to retirees in master-planned communities, had priced shares at $4.16. They opened at $4.40 on Thursday, closing the day at $4.33, up 4.1 per cent.

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