Cynthia Lu and Yusuf Khan: ‘You want to work hard so you can appreciate the finer things’

They are Perth’s answer to the Kardashians — building an empire from the ground up while living a life layered in luxury. For husband and wife team Cynthia Lu and Yusuf Khan, the bold move to launch a building company during a pandemic has allowed them to enjoy the finer things in life. “It’s nice to have those things. It feels good. It serves as a reminder of what all the hard work we both do is for,” Ms Lu says. The recently married couple gave STM a glimpse into their high-flying life in one of the most prestigious addresses in Perth. Situated on Bellevue Terrace, their exclusive West Perth apartment overlooks the city’s evolving skyline and the stunning botanic garden of Kings Park, as well as extensive elevated views of the Swan River. Despite boasting several window walls, a sleek gourmet kitchen and two large outdoor balconies, it’s the beautifully crafted white grand piano in the heart of the open-plan living room that catches the eye first. Insistent “it’s not just for show”, Ms Lu said she played the instrument in her spare time. “It’s always just been a lifestyle,” she says when asked about the many treasures tucked inside the ritzy apartment. “You want to work hard so you can appreciate the finer things.” For her, one of those prized possessions is undoubtedly her breathtaking five-carat oval engagement ring and equally dreamy wedding band, by Sydney-based Jacque Fine Jewellery, with half-carat oval stones all around the finger. Another is her rose gold Royal Oak Audemars Piguet from Barbagallo Watch — one of a number she hopes will one day grow into a valuable collection. “We want to get down that path of collecting watches,” Ms Lu says, adding she and Mr Khan had both already worked towards owning their “dream cars” — a sleek Bentley Bentayga SUV and a bright red Ferrari 488 GTB. The couple’s habitual goal kicking stretches beyond their personal lives though. Within the first month of launching their latest venture MODCO Residential in November 2020, the steel frame construction company hit an “impressive milestone”, reaching more than 100 build contracts. Today that number has more than doubled, with Perth’s newest home builder now having achieved gross sales of about $80 million in its first year. MODCO made its stellar debut two months ago at a mega VIP launch party accompanied by a black carpet, free-flowing Chandon Australia bubbles and an elite list of supercar-driving guests. From there, the high-flying collective kicked on to the well-known Library Nightclub — bought by Mr Khan in 2017 after the then 71-year-old legend of the Perth nightclub scene, Graham Hardie, sold it to the emerging Northbridge player’s Perth City Investments. It is far from the couple’s only ventures, with Modstruct — a steel fabrication company, ABW Store — a Melbourne-based premium activewear line, and Cabinet Noir Express — a concept cafe in the CBD set to open next month, just a few of their many projects. But despite their financial success, it seems the glamour couple have managed to remain relatively down to earth — a realisation prompted by Mr Khan’s obvious discomfort at being asked to pose in front of his recently detailed Ferrari. “It looks like we’re in a car ad,” he joked to STM’s photographer. And even though Ms Lu’s Instagram account boasts almost 20,000 followers, she admitted social media played a minor role in her professional life. Instead, she uses her platform as a personal outlet — most recently sharing snapshots of her and Mr Khan’s lavish yet intimate wedding ceremony at COMO the Treasury earlier this month. There Ms Lu stepped into the elegant private dining room in a stunning couture Galia Lahav gown and beautiful Amina Muaddi designer shoes, for a private ceremony with 20 of their closest friends and family. The magical moment came more than eight years after the couple met in a not-so-cute meet cute. “We didn’t exactly hit it off straight away,” Ms Lu says. “We met through my extended cousin, Yusuf was a long-term friend of his and I was here in Perth on a holiday. “But in late 2013 on one of my holidays back to Perth, we caught up for a drink at Crown and after many coffee hunts and food adventures it led to where we are today.” That persistence is a characteristic that has evidently carried over into their professional lives. MODCO Residential, which prides itself on being able to guarantee a 20-week build time, was a concept they spent years on before taking the final step. “We started doing property development together over eight years ago, and during our development journey we encountered many frustrations,” Ms Lu says. “Time frames were too long, costings were too volatile. “We were tired of the traditional build methods and processes. So in early 2015 we had enough and thought ‘there had to be a better process, a better way’. “That’s when we embarked on our journey around the world to see what we could bring back to WA.” Specialising in architecturally designed homes for a cost-effective budget, MODCO Residential was the natural result after spending years trialling and testing their building methods in their own developments. “We noticed that Perth wasn’t ready for this innovation, until the pandemic caused a surge in the housing market, so 2020 was a year that changed us not only in our day-to-day life but it also forced the building industry to consider alternative building methods, methods that the rest of the world have preferred to use for years.” The power couple put their success down to hard work, grit, their integrity and honesty, and being “somewhat naively fearless”. “We’re both a huge believer that as long as we are honest in our dealings, have good intentions and are accountable, we will always be OK,” Ms Lu says. And while improving the building market has been a key pillar in the couple’s long-term partnership so far, after their recent nuptials it looks like they’ll be turning their focus on building a family, and a home of their own, in the coming years.