News

2017-05-25 NT News: Rural area is leading way

Anyone who has taken the 28km drive from Darwin along the Stuart Highway will have seen the dramatic transformation that has taken place on once Mango farmland. In almost the blink of an eye a $400 million business and shopping precinct, surrounded by new modern apartment living, has become a reality. We are seeing the birth of a new development hotspot quietly pouring millions upon millions into the Territory economy.

The Coolalinga Village Tavern is just part of another exciting six months of building and construction that will generate hundreds of jobs and see new restaurants and apartment blocks go up. For its part, the family friendly tavern will bring 45 jobs once it is open and scores of others while construction is underway.

Gwelo Development’s managing director Even Lynne has done a great job delivering this massive modern new hub for the rural area. It’s been a rollercoaster ride but his faith in the Territory has given us all a gift of confidence. Stage one of the development is the 35,000sqm shopping centre. This development centrepiece features Coles and Kmart. The 5,004 sq Kmart showcases the store’s new layout that is being rolled out nationally. 

2017-05-26 NT News: City Deal inked

A new City Deal for Darwin is in the works through an agreement signed between the Northern Territory and Federal governments… a partnership to develop a sustainable and realistic investment and planning strategy for the CBD. Prime Minister Malcolm Turnbull said the MOU brings the Territory closer to a full deal. “It is anticipated that every lever of the Commonwealth, State Government and local government will work together to create jobs and a more liveable city that grows the Northern Australian economy.”

2017-05-15 Geoscience Australia:
New offshore areas released for petroleum exploration in 2017

21 new offshore petroleum exploration areas have been released. The majority are located along Australia's North West Shelf… from the Bonaparte Basin in the northeast to the Northern Carnarvon Basin.

2017-05-19 Australian Financial Review: gas pipeline - Jemena

Darling Downs gas pipeline in Queensland (has been sold) to Chinese-controlled Jemena for $392 million. Paul Adams, Jemena managing director, described the acquisition as "a crucial next step" in the company delivering on its northern Australian growth strategy, which aims to build an interconnected supply chain of energy delivery infrastructure in northern Australia. The network would be built both through acquisition and the development of assets from scratch such as the $800 million Northern Gas Pipeline being built between Tennant Creek in the Northern Territory and Mt Isa in Queensland, which Jemena has ambitions to extend.

2017-05-16 Defence Connect: NT government seeking to expand industry into US

NT government is seeking proposals to develop and deliver a training package to support local NT contractors in bidding for delivery work associated with the US Department of Defense… US Naval Facilities Engineering Command Pacific Headquarters (NAVFAC PAC) sought notice for: an additional aircraft parking and refuelling apron at RAAF Base Darwin; and an aircraft maintenance facility at RAAF Base Darwin.

2017-05-22 Charles Darwin University: Hub poised to give wings to best ideas

Darwin Innovation Hub (DIH) announced this month… many CDU students in business, science, information technology, law, creative arts and other areas would be eager to undertake internships at DIH and serve as a resource for jobs growth among its clients. “It will be particularly exciting when DIH clients and our staff identify projects that are suitable for Masters students and PhD candidates. The potential to promote our unique innovative capabilities to the world is essentially limitless.” Professor Cram said that with Federal and Territory funding, the DIH anticipated being able to attract 75 start-ups within its first two years.

2017-05-23 Economic Brief: Engineering work done March quarter 2017

In the March quarter 2017, trend engineering construction work increased by 1.4%.

2017-05-18 Economic Brief: Labour Force April 2017

Trend resident employment in the Territory increased by 0.5%... the highest increase of all jurisdictions. The Territory’s trend unemployment rate was 3.5% in the month, the lowest of all jurisdictions. Trend participation rate was 78.8% in the month, the highest of all jurisdictions. Annually, trend resident employment increased by 6.9% in the Territory compared to April 2016, above the national growth of 1.3%.

2017-05-17 Economic Brief: Wage Price Index, March Quarter 2017

NT recorded the equal 3rd highest year on year growth of the jurisdictions, along with NSW.

2017-05-15 Economic Brief: Housing Finance for owner occupation, March 2017

In March 2017, the trend number of housing finance commitments for owner occupation in the Territory increased by 1.7% to 307. This was the highest monthly change in trend total commitments of all jurisdictions… In the year to March 2017, the number of commitments by first home buyers in the Territory increased by 20.6%.

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.

2017-05-14 NT News: Thousands cash in on centre’s grand opening

The rural area’s $400 million Coolalinga Central shopping complex has officially flung open its doors to thousands of approving shoppers. The project, which has created around 1200 jobs, opened yesterday… Chief Minister Michael Gunner, Opposition Leader Gary Higgins and independents Gerry Wood and Kezia Purick were all there to celebrate the biggest retail development in the rural area in the past decade.

Mr Gunner congratulated developer Gwelo for putting its faith in the rural area with the development. “This is much-needed infrastructure for people living in the rural area, who needn’t travel far any more for a greater range of shops, doctors, fitness centres, bakeries, butchers, auto services, supermarkets, restaurants and more.” Gwelo managing director Even Lynne said the shopping centre had already become a hub of activity for rural people. “Anchor tenants Coles and Kmart have already become a huge draw card, and over the next six months or so, things are going to get busier. There is still the new tavern and more restaurants, which will bring more people to the hub. Plus I am moving on to stages 2 and 3, which will generate more work in the construction sector.”

2017-05-8 The Australian: CoreLogic dwelling price-to-income ratios

Ratios were highest in Sydney (8.4 times) and Melbourne (7.1 times) compared to only 4.5 times in Darwin.

2017-05-08 Offshore Technology:
Monadelphous wins Ichthys LNG Project offshore maintenance contract

Monadelphous Group has secured a long-term maintenance services contract with Inpex Operations Australia for the offshore Ichthys LNG Project… Monadelphous will provide operational, campaign and shutdown maintenance services (and) will also be responsible for brownfield projects implementation for Ichthys central processing facility ‘Ichthys Explorer’ and floating production storage and offloading facility ‘Ichthys Venturer’.

2017-05-02 NT Hansard: Primary Industry

The primary industry sector combined makes up approximately 20% of the Territory’s economy.

2017-05-08 Beef Central: Northern cattle exports

From January 1 to April 30, a total of 91,140 head were shipped from Darwin.

2017-05-02 NT Hansard: Cattle exports

Estimated 235,625 NT cattle were exported from Darwin port in 2016.

2017-05-08 The Australian:
Rinehart’s $2bn live export deal with China’s New Hope group

Hancock Pastoral company is poised to become the key player in the fast-developing industry exporting Australian cattle live to China, potentially a $2 billion sector…Under Hancock Pastoral’s live export masterplan, beef cattle will be shipped from the three northern Australian ports of Broome, Darwin and Townsville to Zhejiang’s island port of Zhou Shan, south of Shanghai, where New Hope will build new feedlot, quarantine and meat-processing facilities in the specially approved Free Trade Zone for Australian agriculture and food exports to China.

2017-05-11 Media Release: Environmental approval boosts economic development and jobs in Northern Australia

Coalition Government has approved under national environment law a prawn aquaculture facility in the NT… Project Sea Dragon, is the initiative of Australian agri-food company Seafarms Group Ltd. Stage 1 will result in a nearly 3-fold increase in Australia's farmed prawn production, and a 55% increase in Australia's total production. Once fully implemented, it is anticipated Project Sea Dragon will produce over 100,000 tonnes of prawns each year and generate an export revenue of $1.6 billion pa. The first phase, near the border of the NT and Western Australia, will include a facility at Legune Station where the prawns will grow to size, a breeding centre at Bynoe Harbour and export facilities at Wyndham and/or Darwin.

2017-05-02 NT Hansard: Marine Engineering and Services

We will invest in Darwin and Palmerston as a major player in marine engineering and services and have allocated $100m towards the ship-lift project. We will also develop a master plan to create a marine services park.

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.

2017-05 REINT: NT Real Estate Local Market Report March Quarter 2017

The median house price for the Darwin market rose by 2.7% for the Qtr taking it to $530,000.
… overall vacancy rate of 7.1%. Darwin rental yield: 3-bed house 4.8%, 2-bed unit: 4.5%

2017-05 Herron Todd White: May 2017 Month in Review

The Port of Darwin has not yet ramped up its operations although that is certainly a possibility in the future.

2017-04-29 NT News: Inpex confirms delays

Production on the $50 billion Inpex plant in Darwin has been delayed until the March quarter next year... The workforce was scheduled to be scaled down from its peak of 8,000 to around 6,000 over the next few months however this now looks unlikely...

2017-04-27 The West Australian: LNG vessels leave South Korea bound for WA

The Ichthys Explorer, the offshore central processing facility for the Inpex-led LNG project, has sailed from Samsung Heavy Industry’s Geoje shipyard. The world’s biggest ever vessel, Shell’s 488m Prelude floating LNG facility, is waiting its turn at the same shipyard… Shell had planned for Prelude to sail in July but this may be delayed to September, according to industry sources. The second Inpex vessel, 336m Ichthys Venturer, is nearing completion in a Daewoo shipyard.

2017-05-05 Reuters: Origin Energy doubles stake in Beetaloo shale gas field

Australia's top energy retailer, Origin Energy, said on Friday it doubled its stake in the Beetaloo Basin shale gas field in Australia's Northern Territory… it increased its share in the undeveloped prospect to 70%, after purchasing a 35% share from Sasol Petroleum Australia Ltd.

2017-05-03 AFR: NT pipeline extension could solve east coast gas crisis

Jemena  said it was undertaking feasibility studies for a possible expansion of its yet-to-be-constructed Northern Gas Pipeline (NGP) which is due to deliver gas from Tennant Creek in the NT to Mount Isa in North Queensland. A 1,100km extension from Mount Isa to southern Queensland is expected to cost another $1 billion. Jemena executive general manager of corporate development Anton Boey said the company was actively considering the pipeline expansion and was confident there would be enough gas contracts to underwrite the project, despite the Northern Territory's moratorium on on-shore gas exploration.
"We built the NGP to the size of market demand that we see at the moment. But the technical and feasibility we've done around the NGP means we can scale it up in the event of more demand for gas transportation”… Northern Territory government (has) granted Jemena the pipeline and construction licence for the Northern Gas Pipeline to Mount Isa which is expected to begin construction in July and be completed by the end of 2018. The first stage of the pipeline is expected to carry 100 terajoules a day but a compression of gas (which effectively pushes more gas through the pipeline) and "looping" (which duplicates the pipeline in certain parts) could boost the capacity to 700 terajoules if the company decides to extend the pipeline to the populated south-east corner.

2017-05-03 Australian Mining: NT gas pipeline reaches next milestone

More jobs in the Northern Territory’s resources sector are on the away after the government granted Australian energy company Jemena a pipeline licence for the Northern Gas Pipeline.

2017-05-02 InvestorIntel: Northern Minerals revs heavy Rare Earths engine

Northern Minerals Limited has approved a $56M budget for management to trigger its 3-year pilot plant for the extraction and purification of the heavy rare earth dysprosium from the Browns Range Pilot Plant project in Northern Australia, its flagship project, which is expected to be the first significant world producer of dysprosium outside of China.

2017-04-27 Australian Mining:
NT Government considers Tennant creek common user mine

NT Government has committed to fund a feasibility study into the development of a common user mine and processing facility in Tennant creek, set to bring more jobs to the region.

2017-05-02 NT News: Defence to grow to 10pc of NT economy

The Defence NT team has been expanded and a Canberra-based industry advocate has been funded in this year’s Budget as part of the push to secure a portion of the $20 billion to be spent in the Territory over the next two decades... Defence makes up more than 7% of the NT economy already, which will grow to 10% with the forecast spending.

2017-05-02 Land Development Corporation: Marine Service Area

Land Development Corporation will be commencing works on the new Marine Service Area, within the Marine Industry Park at East Arm this year...on 8 hectares of land strategically located north of the Common User Facility and the proposed ship lift.

2017-05-02 NT Legislative Assembly: Hansard

The primary industry sector combined make up approximately 20% of the Territory’s economy... An estimated 235,625 NT cattle were exported from Darwin port in 2016.

2017-05-02 ABC News: Indonesia's weight limit changes 'making it easier'

In February the Indonesian Government changed the average weight limit from 350kg to 450kg. It ended 7 years of weight restrictions enforced by Australia's biggest customer for live cattle.

2017-05-04 Economic Brief: International Trade March 2017

In March 2017, the Territory's monthly trade balance increased by $4 million to $285 million... driven by a $181 million increase in goods exported, partly offset by a $177 million increase in the value of goods imported… primarily driven by a $113 million increase in exports to China and a $38 million increase in exports to Japan.

2017-04-27 Economic Brief: Sensis Business Index March 2017

Net balance business confidence level of Territory small and medium enterprises in their own business prospects over the next 12 months increased by 2 percentage points to +185.

2017-04-24 Economic Brief: CommSec State of the States April 2017

The Territory remained in 1st position for unemployment with the lowest trend unemployment rate of 3.5%, 12.5% below the NT’s decade average, and 1st for construction work done with the level of construction work in Dec Qtr’16 almost 30% above the decade average level. NT is ranked 1st for economic growth with current output 26.4% above the decade average level.

 

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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