Sam Tarascio Snr has created one of Australia's largest privately owned property companies, completed more than 150 projects and created a new benchmark for quality industrial assets and national logistics operations.
His company, Salta, has a multi-billion portfolio of industrial, residential and commercial developments compiled over five decades.
Property Council Chief Executive Mike Zorbas said the induction of Mr Tarascio Snr was a fitting recognition of his vision.
"Sam's journey is a shining example of what can be achieved with vision, dedication and extraordinary hard work," he said.
"He also has an uncanny ability to see opportunities where others don't.
"Imagine arriving at Victoria Dock in 1950 as a young child, with only hope, tenacity and the support of your family, and turning those ingredients into a multi-billion-dollar national property organisation renowned for innovation and exceptional quality.
"That vision speaks to us through Victoria Gardens, which he has transformed from an industrial tip into a thriving urban precinct delivering major social and community benefits.
"Sam, we salute you for creating assets that will be enjoyed for generations to come," Mr Zorbas said.
Sam Tarascio Senior said, "It is with great humility and a deep sense of gratitude that I receive this recognition from the Property Council being inducted into the Hall of Fame.
"I've been 'held captive' by my work for more than five decades, and I still see it as a great privilege - to create places where people live, work, and come together.
"It's not just about what you build, but how you build it - with care, with respect for community, and with a view to the future."
The Property Council would like to thank the Hall of Fame selection committee, chaired by Darren Steinberg and comprising Greg Paramor AO, Carolyn Viney, Laurence Lancini, Lexia Wilson, Steven Yovich and Rosina Di Maria for their contribution to this year's Australian Property Hall of Fame induction.
The Australian Property Hall of Fame, administered by the Property Council, was established in 2012 and honours individuals who have provided sustained leadership, made a major pioneering contribution and left an outstanding legacy to the property industry and the Australian community.
Other inductees have included Frank Lowy AC, Carol Schwartz AO, Sir John Pidgeon, Sir Keith Campbell, and Sir Albert Jennings.
