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Future Work and our Direction

The Gold Coast continues to lead the way in confidence and new opportunities, which all goes well in planning for the rest of the year.

Northern NSW remains a bit quiet and Brisbane continues to offer a lot but as yet hasn’t delivered very much

We continue to explore new opportunities by “value adding”. This approach together with our willingness to help the clients along their journey, commencing from the purchase of land right through to the sale of the end product, is an approach and service that creates and maintains relationships.

The recent rises in interest rates have not had an impact on our projects, and our clients are confident that their projects will proceed and be profitable. However, the projects we were looking at in Yeppoon and Hervey Bay have stalled for the moment. On the flip side we are confident that the Brisbane market will provide some good projects in the near future.

Our Southern Cross University project has been delayed, but finally it looks like a commencement date is close. This is the first 1 of 12 on the site and we will be keen to pick up a few more of them.

Design and construct projects are certainly becoming more prevalent especially with a fast track commencement component. This delivery method is a much more sensible approach then the old fashioned lump sum hard dollar projects, where the client gets at least 6 tenderers and just takes the cheapest price. The industry as a whole has become a bit more sophisticated especially in this buoyant market and we are currently involved with the design and construct approach on many projects ranging from community housing/ units to high rise units and offices. This will continue to be a large slice of our work together with negotiated contracts.

The year ahead will be solid for us due to our full workbook, but it will be very interesting with material prices, especially all steel products, rising at an alarming rate. Iinterest rates should stabilize now the emotion is disappearing out of the media, and many new high rise buildings in Surfers Paradise are just starting. So we see the market remaining solid but not spiking, and by the end of the year growth reappearing in the development market.

Date Posted: 22/07/2008