Managing Director's Message July 2012
Mark Gray 11 July 2012
The first hints of a return to growth have begun to surface in the Australian property market. Domestically, market fundamentals are improving and higher consumer and investor confidence levels are gradually returning; rising business investment, particularly in the resource sector, strong rental growth in the commercial sector, price growth in the residential market and historically low vacancy rates coupled with significant forecast population growth and continuing quality immigration will greatly support this improvement.
Whilst Australia and Sydney in particular is still in the grip of a major housing crisis and existing overall international market volatilities and major sovereign debt issues continue to persist, Leighton Properties is well positioned to take advantage of an upturn within Australia in both the commercial and residential/mixed use sectors with a number of major projects under construction and a solid pipeline across the country.
Leighton Holdings held another successful annual general meeting on the 22nd of May. It was interesting to note that Leighton Holdings has communicated to the greater market a new strategic direction to identify and pursue key synergistic opportunities between Group companies.
As a result, following the success of our HQ building in Fortitude Valley, Queensland (developed by Leighton Properties, constructed by Leighton Contractors and occupied to a large extent by both Leighton Contractors and Leighton Properties), going forward we are actively looking to develop workplaces for the Leighton Group.
This leverages both the Group's 'in house' expertise in construction and Leighton Properties' own specialist expertise in developing sustainable vertical environments for working and living
For more information
Phone+61 2 9925 6666
Email Mark Gray