Queensland Australia fast growth in Property-Real-Estate due to Mining
Posted
in Updates
@ Apr 1st 2013 2:09pm
- By Garry Larden
Queensland Australia fast growth in Property-Real-Estate due to Mining
Gina Rinehart and India's GVK Power & Infrastructure have received environmental approval for their plan to build a $6.4 billion coal project in Queensland, Reuters has reported that the mine is the most advanced among a number of similar projects in the currently undeveloped Galilee Basin.
The Alpha coal project is owned 79 per cent by GVK and 21 per cent by Rinehart, India-based Adani Enterprises is also planning a $10.9 billion coal and rail project in the Galilee and Clive Palmer is also planning to build a mine and rail line in the Galilee Basin, and QR National has also submitted plans for a third rival rail project. There are plans to start Alpha's construction in 2013, and the development will need 4,000 workers at its peak.
This is just the tip of the iceberg with billions and billions of dollars flowing into the Australian resources sector and with it is the need for housing for an increasing population so the property sector will also be a sound investment as it grows hand in hand with the resources escalation.
One of Australia's biggest mining entrepreneurs, Andrew "Twiggy" Forrest has urged the federal government to remove capital gains tax on people who build second homes in the north with support from senior members of the Coalition and major players in private enterprise who have come together in a push to transform the northern frontier.
Gina Rinehart, the world's richest woman, believes special economic zones, or SEZs, where regulations relating to Customs and foreign investment are relaxed, will encourage the free market economy and bring new settlers north.
The enormous growth in the future and longevity of these multi-billion dollars mines means, jobs, infrastructure, and of course the need for housing, and with the Government approved tax benefits being allowed it is inevitable that high wage earners will take advantage and invest in property for long term security as well as the obvious tax breaks.
