News

2016-06-21 NT News: Property investors cash in on Darwin’s unit rental market

Darwin is the property investor capital of Australia… Real Estate Institute NT executive officer, Quentin Kilian, said he wasn’t surprised by the figures as Darwin traditionally had a strong investor market… “If you use rental yields as a guide, (Darwin) has had the strongest rental yields in Australia for the past 10 years… $525 for houses, with a 5.2% rental yield, and $415 for units, with a 5% return… Darwin was ahead of the Gold Coast (32.8%), Melbourne (32.2%) and Sydney (28.9%).

2016-06-20 Property Observer:
Inner capital city apartment markets dominate investor preference

Capital city areas comprise four of the top five regions nationally for investor concentrations, with Darwin topping the list at 42.9% of all dwellings owned by investors. Investor owned houses: 30.3%, units: 63.1%.

2016-06-22 Reuters: Australia in sweet spot to meet Asia demand for ultra-light oil

Australia's Ichthys LNG export project, operated by Japan's Inpex Corp, could produce more than 100,000 barrels per day (bpd) of condensate when it starts up next year. "The fact that the project is liquid-rich is one of the reasons that this project is economically in good standing," an Inpex spokesman said, adding that the company has started marketing its condensate, primarily to customers in Asia.

2016-06-20 Beef Central: First shipment of Australian cattle arrives in Cambodia

The cattle for the trade-opening order were sourced from the Northern Territory and Northern Queensland and were shipped from the Port of Darwin. A second delivery of nearly 2,000 cattle is expected to follow in mid-July (with) up to four deliveries per month in future.

2016-06-22 NT News: On the road to bright future

Seafarms Group have welcomed the $40 million commitment to upgrade the Keep River Road … “a vital piece” of enabling infrastructure for the $15 billion Project Sea Dragon planned to be Australia’s largest aquaculture project potentially producing over 100,000 tonnes of black tiger prawns per year.

2016-06-21 NT News: Prime Minister Malcolm Turnbull in Darwin

Mr Turnbull will release economic modelling commissioned by Master Builders Australia that shows $20 billion in budgeted defence construction spending will add 4.7% to the Territory’s Gross State Product from 2017.

2016-06-21 NT News: NT agency caters to Chinese tourists

Strong demand by Chinese visitors has triggered the opening of a travel agent focused on attracting the county’s tourists to the NT… Atrip wants to double the number of tourists it brings to the Territory by 2018.

2016-06-22 NT News: Big Incentives for Big Ideas

The Developing Northern Australia conference is being held in Darwin… Sharon Warburton, the chair designate of the $5 billion North Australia Infrastructure Facility… “already we have identified over 70 projects proponents with an estimated total cost of over $30 billion”.


Disclaimer

The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate./p>

 

2016-06-18 NT News: Corelogic

Darwin’s average house price is $519,000.

2016-06-15 Property Observer: vacancy rate May 2016

SQM Research week end 12.6.16: Darwin houses rent $556, units $433.30. Vacancy rate: 2.9%.

2016-06-14 Financial Review: LNG projects -potential prize

Highly competitive supply could be provided through so-called "backfill" projects, where additional reserves from new fields are brought in to supplement declining production from the original fields supplying LNG plants… ConocoPhillips' Darwin LNG venture offer opportunities, as well as Shell's Prelude floating LNG venture… The value to industry of backfill projects for the North West Shelf and Darwin LNG is put at $US6 billion-$US8 billion.

2016-06-17 NT News: Catering to flights of fancy

Babcock International Group has expanded its footprint with the company opening a new $11 million Operations Centre at Darwin International Airport for its fleet of helicopters servicing the Northern Territory’s oil and gas industry… Babcock Offshore Services Australasia Managing Director John Boag said the new facility would service a multimillion dollar, five-year contract with PTTEP Australasia and will service major clients including Woodside, ConocoPhillips, Eni, INPEX and CGG.

2016-06-13 Business Wire: Jemena Northern Gas Pipeline Development

Intertek… has been selected to provide 3rd party inspection services to support the procurement of Jemena’s Northern Gas Pipeline Project… Sheldon Harvey, Intertek’s Business Development Manager for Industry Services: “We are proud to support Jemena in meeting the project quality and schedule requirements to have first gas flowing by 2018”... NGP will help secure energy resources for the population on the eastern seaboard, opening up untapped resources in Northern Australia and unlocking the next phase of economic growth for the Northern Territory.

2016-06-13 The Australian: East coast gas in the pipeline for Jemena

Chinese-controlled infrastructure company Jemena says an $800 million pipeline it is building to connect the Northern Territory gas market with the east coast is part of a much bigger plan, with Gladstone’s three LNG plants set to drive more demand than many were expecting and likely to struggle to source reasonably priced gas… Melbourne-based Jemena is a 60-40 joint venture between China’s State Grid Corporation and Singapore Power with $10bn of mainly gas pipeline and gas and electricity distribution assets… Jemena business development manager Antoon Boey “I could see a very strong logic that says NT gas will move east, as opposed to moving north.”

2016-06-15 finfeed: Core Exploration advancing its NT lithium projects

With lithium now the hottest commodity in the world… Stephen Biggins (speaks) about Core Exploration’s Finniss Lithium Project: We’ve been operating in the NT now since late 2012, and were greatly aware of the lithium potential in the NT… We’ve initially submitted our drilling approval application to test multiple pegmatites within the Finniss Project in stage 1, and expect to be in a position to commence drilling as soon as possible in Q3.

2016-06-16 Hansard: NT primary production

Combined value of the Territory primary production and fisheries in 2014-15 was $572.8m, an increase of 15% over the previous year. Livestock production totalled $360.8m, followed by horticulture at $108.7m, commercial fisheries and aquaculture, $79.2m and field crops $24m. Cattle production accounted for $333.5m or 58% of the Territory’s primary production value. This was $43.m higher than the year before and reflects an increase in exports.

2016-06-16 ABC Rural:
NT cattle station income tipped to almost triple the last decade’s average this year

ABARES' Peter Gooday: "In 2015/16 we're expecting that across the Northern Territory farm cash income for beef cattle operations will average $1.2 million a farm, that's compared to a ten-year average of a bit over $400,000."

2016-06-16 NT News: tourist numbers on the rise

Visitor numbers to the Northern Territory are at their highest level in a decade. Figures from Tourism Research Australia show 1.7 million visitors came to the Territory in the year to March, an increase of 28%. About 800,000 of those were holiday-makers, a growth of 17% on the previous year. Total overnight spending increased 7% to $2 billion.

2016-06-16 Economic Brief: Labour Force May 2016

Trend resident employment in the NT increased by 0.6%... the highest monthly increase of all jurisdictions. Trend unemployment rate was 4.1% and the trend participation rate was 74.8%.


Disclaimer

The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

2016-06-06 The Australian: WA gas could be piped to the east

Gas from offshore Western Australian could be piped to the east coast for the first time when an 890km pipeline to Darwin from off the Kimberley coast is finished as part of the $US37 billion Ichthys LNG development… Japan’s Inpex says there is the potential for a multibillion-dollar sale of the Ichthys pipeline, the biggest of its type in this hemisphere, once construction of the giant LNG project is finished next year.

The potential to pipe WA gas to the east coast comes amid fears of a looming shortage, with 5 of 6 LNG trains now operating at Gladstone’s Curtis Island in Queensland and growing restrictions on onshore development in NSW, Victoria and, potentially, the NT…

Seiya Ito, President of Inpex’s Australian operations… “Once you have all the infrastructure in place from offshore Kimberley, all the way to Darwin, there will also be the North East pipeline, I cannot tell you if our gas will go to there yet, but there are a lot of potential expansion options, and one might be gas sales to the east”

The company intends to maximise the value of its investment with some sort of expansion, having a gas pipeline with spare capacity and tie-in points for new gas fields in the prospective and relatively underexplored Browse Basin and room for more LNG trains at Darwin. “Expansion is very important for Ichthys, and Inpex is looking for the next opportunity. We can expand our plant capacity at Darwin, up to a 4th train, we can debottleneck to increase capacity a bit more and there is the potential for domestic gas sales. We will assess any opportunity, and if it is commercially viable we will go after it.”

2016-06-06 Sydney Morning Herald: Petrel sub-basin

Federal Resources Minister Josh Frydenberg will also announce almost $700,000 in funding for a project to investigate storage of carbon waste in the Petrel sub-basin off northern Australia, which could act as a deposit for CO₂ from the Darwin LNG project and gas fields in the region.

2016-06-09 Mining.com: Fraser Institute Annual Survey of Mining Companies

Mining… helping GDP growth average 3.6% a year for most of this century… Western Australia took the world’s top position for mining investment… with Northern Territory in seventh place.

2016-06-08 Mining Weekly: Hayes Creek zinc, gold and silver project

Pre-Feasibility Study due for completion in mid-2017, would expand on the scoping study, which indicated that mining and processing ore derived from open pit and underground operations at Hayes Creek would generate strong financial returns.

2016-06-09 IHS: Landbridge Group eyes more investments in northern Australia

Darwin... has a strategic location close to Asia. It is a support hub for several of the area’s major oil and gas projects including the ConocoPhillips’ Bayu Undan and Greater Sunrise gas fields, around 500 km and 450 km offshore of Darwin, and the Bonaparte liquefied natural gas (LNG) project in the Timor Sea. It is also the world’s largest livestock export port, shipping more than 600,000 head in 2015, mostly to destinations in Southeast Asia.

2016-05 Landbridge Group: Port Development Plan 2016

Darwin Port is the only major multimodal port located in Northern Australia and is strategically located as Australia’s gateway to Asia and Asia’s gateway to Australia… Having secured a 99-year lease on Darwin Port, the Landbridge Group is now looking to develop the Port and increase trade flow through Darwin. Landbridge Group is actively investigating other investment opportunities in both Northern Australia and elsewhere in the Asian region with a view to maximise Port throughput in both exports and imports and shipping activity more generally...

Refrigerated Container Park: Darwin Port is in the process of expanding the refrigerated container (reefer) park at East Arm Wharf (EAW)… Additional area of hardstand is being developed… Harbour Support Vessel Facility: A forecast increase in large vessel movements within Darwin harbour will also see a need for additional harbour support assets. Darwin Port is working closely with operators within this sector in planning for a new facility at EAW…

Extension of the current quay line by 1000 metres to meet future increases in cargo volumes in the areas of dry bulk exports, liquid bulk imports, live cattle and container and general cargo throughput…

Cruise Ship Facility – In terms of cruise ship passenger numbers, Darwin Port is ranked No.3 in Australia. The increasing demand in Cruise ship tourism is forecast to continue into the future with larger vessels carrying more passengers. Darwin Port has initiated a project to cater for the increasing vessel sizes and the larger number of passengers that they will carry. With the world’s largest cruise ships now programming visits to Darwin, this infrastructure will need to include additional quay line and passenger facilities that will enhance the visitor experience... proposals are underway to modify the existing facilities to cater for these increasing numbers of passengers that leave and join the ships while in Port. Having a cruise ship use Darwin as its home base port has been a long term aspiration.

Mining Sector – Darwin Port is in discussions with a number of minerals export proponents that are working towards using the Port to move product to market... which could see the requirement to develop additional infrastructure at Darwin Port including: a cross land conveyor system from the Darwin Port stockpile site to the bulk loading system; dedicated enclosed storage sheds for products not suitable for outside storage; additional bulk loading systems for products not compatible for loading with the existing system; additional rail dump facilities to reduce rail terminal bottlenecks as volumes increase.

2016-06-08 NT News: New funding fires up giant Dragon project

Seafarms Group has raised $10 million to take it through the next stage of development for the $1.5 billion Project Sea Dragon. Australia’s most ambitious prawn farming project in the Northern Territory is being fast tracked to take advantage of foreign investors eager to back the scheme… Executive chairman Ian Trahar said plans were well advanced to build 2160ha of prawn ponds on Legune Station that would start producing 26,000 tonnes of premium tiger prawns for both Asian and local markets by 2019.

2016-06-07 Media Release: Berrimah Export Yards upgrade

Primary Industries Minister Gary Higgins said in 2014-15 more than 600,000 head of cattle were exported from Darwin, with pre-export quarantine responsibilities shared between 4 premises, including Berrimah… proposed ($4.1 million) works … “will consolidate Darwin’s position as the major cattle export centre in Australia.”

2016-06-08 NT News: Singapore rep helps add to Asian influence

Former banker and investment specialist Anthony Cheng has taken up the Singapore role … on-ground representation provides the Northern Territory with the advantage of being able to develop business relationships and promote Territory engagement to a wider audience in South-East Asia. Mr Cheng will also take up responsibility for growing business links with Malaysia.



Disclaimer

The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

2016-06-04 NT News: Iconic status

“It’s going to be a positive icon for the city as it’s become such an awesome building featuring 14 retail stores, restaurants and a gymnasium - such a great mix of shops… Everyone always raves about this building so I said it has got to be called The Icon” … Gwelo Developments paid $21 million to property developer Kerry Manolis in 2014 for the (then) run-down building.

2016-06-01 NT News: Job Prospects will lure Aussies north

Federal Trade Minister Steve Ciobo said the $5 billion North Australia Infrastructure Fund will drive investment in the Northern Territory, “unleashing a wave of investment dollars across the north unlike anything we have seen before.”

2016-05-27 EIS: Nolans Project (NT)

Demand for high quality rare earth products in key growth areas such as the automotive, clean energy and electronics sectors, is forecast to grow at 5%pa over next 10 years, driven by technology innovation, particularly in the industrial and clean energy sectors. The project has the potential to supply 10% of the world’s magnet feed demand through its production of neodymium-praseodymium oxide. The Nolans Project is 100% owned by Arafura Resources.

2016-05-31 NT News: Darwin Port to receive $25m infrastructure boost

Darwin Port is to have its quay line extended as part of a $25 million infrastructure boost under a newly released development plan… The quay line is about 800m now. A study considered an extension of the current quay line by 1km to meet future increases in cargo volumes in the areas of dry bulk exports, liquid bulk imports, live cattle and general cargo… Port development projects underway and in design and planning phases include a refrigerated container park, a strategic hardstand development and a harbour support vessel facility.

2016-06-03 ABC Rural:
Benmara Station sale to Harris family latest in 2016 NT pastoral changes

The sale of Benmara Station is one of around 20 Northern Territory pastoral leases with a sale price above $5 million to have changed hands in 2016… Sue Brosnan from Tanami Rural Property said this number of sales so early in the year was unprecedented… "I think there is a continuing demand in the north, in the Northern Territory, top of Queensland and top of Western Australia… there is a greater percentage are foreign interest and international buyers. They come with their own equity and are very keen on investing in the north, the northern pastoral industry and developing the asset.”

2016-06-01 NT News: Taking it to the Tourists

Budget 2016 increased funding for Tourism NT to more than $51 million… The Government has invested an extra $24 million in tourism marketing and strategic product initiatives over the past three Budgets… this is paying off with tourism spend in the Territory hitting $2 billion last year.

2016-06-02 Economic Brief: International Trade April 2016

Top 3 countries from which the NT sourced its international goods imports: Japan ($1.3 billion), Thailand ($904 million) and China ($523 million). Top 3 export destinations: Japan ($2.1 billion) China ($1.0 billion) and Thailand ($377 million).

2016-06-01 Economic Brief: Trend Consumption March Quarter 2016

Strengthening growth in household consumption in the Territory in year to March 2016 largely reflects growth in expenditure on recreation and culture, food, rent and other dwelling services.


Disclaimer

The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

12 O’Sullivan Circuit, East Arm NT 0822 +61 08 8943 7300 enquiries@ gwelodevelopments.com.au

Gwelo Developments has built a strong reputation in Darwin since 1975 and the company is well known and respected. Its developments have stood the test of time and been highly innovative and the Gwelo team is a strong team of long established professionals. Skills encompass a full range of construction and project management, commercial developments and residential design providing outstanding home owner, commercial, retail and investor options.

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