Funds flowing to Northern Territory highlight investment opportunities
The Northern Territory continues to distinguish itself as an Australian investment frontrunner, boasting yet another lucrative resource contract for the Ichthys project.
The $340 million deal was negotiated as a 50:50 share agreement with local companies Macmahon Contractors Pty and John Holland and will begin construction on the site of the Ichthys LNG Project onshore facilities near the city of Darwin.
Representing the largest contract ever awarded by the JKC Joint venture (JGC Corporation, KBR, Chiyoda Corporation), the site development civil works contract is what chief minister Paul Henderson calls “just the beginning” of profitable projects to come that highlight investment opportunities in NT.
Opportunities for commercial and residential property investment abound, with funds flowing in from both national and foreign stakeholders.
The Northern Territory was recently voted among the top 11 jurisdictions in the world to invest in mining development, a score that demonstrates the commercial potential in the area.
The study, conducted by the Canadian-based Fraser Institute, assessed responses from over 800 executives on criteria from 93 different regions across the globe and awarded NT 81.5 points out of a possible 100.
The state also received the highest score in Australia on the Residential Development Council (RDC)/Property Council Development Assessment Report Card 2012.
Raising its score from 7.3 to 7.5 out of 10, the NT fared the best in the Property Council’s assessment of state planning procedures which measures ten categories of criteria, including private sector involvement and built-in improvement mechanisms, to determine a ranking.
Beyond that, the NT has put record investment into education, infrastructure and health care developments and holds one of the lowest unemployment rates in the country.
Mr Henderson was pleased to highlight investment opportunities and to report the great potential of this region.
He said: “The Territory has a very bright future as we move into a period of significant economic growth that will bring with it high-skill, high-wage job opportunities.”
Those considering property investment in Australia may wish to explore budding options in the Northern Territory.
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