Residents of California are expressing fear over the intentions of two billionaire brothers from New Zealand, who have acquired land in the wake of the devastating Los Angeles fires. Locals worry that the brothers plan to transform these prized beachfront properties into extravagant mega-mansions.

The January 2025 fire was the most catastrophic in Los Angeles history, engulfing more than 6,800 homes and structures throughout Southern California. Malibu was particularly hard-hit, with approximately 720 properties reduced to ashes.

In the aftermath, residents of this once-glamorous celebrity haven are finding it difficult to rebuild their homes as they face stiff competition from developers. Among those developers are the Mowbray brothers, Nick and Mat, who have purchased 16 plots in Malibu that were ravaged by the wildfire.

These brothers, known for their global toy company Zuru, are venturing into real estate through their tech firm, which specializes in AI-designed, mass-produced homes manufactured in China, as reported by KABC.

Zuru, established by the Mowbray brothers, has made a name for itself with popular toys like Robo Fish, Bunch O Balloons, and Mini Brands. The company has since branched out into robotics, construction, and household products, showcasing the brothers’ diverse business interests.

The brothers, who reportedly plan to manufacture cut-price factory-built houses on the lots, want the homes to be available to customers within three years.

Marcel Fontijn, the director of operations at the Mowbray’s company Zuru Tech, told the local news station: ‘What’s unique with our system, it’s a fire-safe system. Walls are made out of AAC, which is a very lightweight concrete that has high insulated values, and the ceiling, the roofs are made of concrete.’

But Malibu City Councilman Steve Uhring told KABC he is concerned the brothers will combine the lots to build mega-mansions, making them unaffordable for residents who lost their homes. 

Toy tycoons Nick and Mat Mowbray purchased 16 wildfire-burned plots in Malibu through their tech company

Malibu locals are terrified they will not be able to afford to return to their beloved coastal enclave because the wealthy developers are snapping up properties

‘It’s gotta be a community that has a group of homeowners who live here, who are invested in the community, who participate in what goes on in the community, and that’s what will make us a good city again,’ Uhring said. 

‘I think as we get further down the line, everybody’s gonna realize the boys from New Zealand are billionaires, they’re in it to make money. 

‘I think whether this plan they got right now is the one that’s gonna make them money, whether there will be a revised plan down the road, my crystal ball’s not good enough to tell you how that’s going to work out.’

Fontijn insisted the brothers genuinely want to help rebuild Malibu and the luxury prefabricated houses will be priced based on the real estate market when they are listed.

‘Our attention is not on stealing their land or commercializing Malibu. We truly want to return Malibu to what it can be, hopefully a better version of its past self,’ he said. 

‘Our plan was to build one home that was used by the Mowbrays, but after we bought the first lot, we had many public inquiries if we were interested in buying additional lots. 

‘We don’t want to go through a California Coastal Commission to build very large mansions. We want to truly rebuild what was here before.’ 

Rebuilding appears to be slow in Malibu, where only 22 building permits have been issued since the fires. 

Malibu City Councilman Steve Uhring believes the brothers purchased the lots to make a profit

Roughly 720 Malibu properties were burned to the ground during last year’s fires. One year later, only 22 building permits have been issued in the city

Meanwhile, more than 1,300 permits have been issued in the city of Los Angeles in Pacific Palisades. 

Malibu locals fear that at the current pace, rebuilding may take more than a decade and have started putting their properties up for sale.

In October, experts warned that ‘supply is exceeding demand’ and lots are being listed at discounted rates of 20 to 60 percent, according to the LA Times.

At the time, around 75 lots had sold in Malibu since the deadly blaze, but sales were slowing down and 47 percent of the 160 remaining listed lots had dropped in price. 

The Daily Mail has reached out to Zuru and the Mowbrays’ representative for comment.