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Property News

Northern Territory unveils infrastructure strategy

February 16, 2012

In recent weeks the Northern Territory has announced a variety of resources contracts, increased ad jobs, record investment into education and high health services expenditure.

The Icthys project, for example, is reported to be infusing the local area with $34 billion of investment funds, benefitting the community as a whole.

170 new teachers were hired on at the beginning of the school year, in addition to the re-vamped schooling facilities.

All of the activity may also inspire commercial and residential property investment in NT as the financial opportunities continue to build up.

As the state is poised to grow economically, the state government is trying to brace itself for a best-case scenario.

It was announced today (February 16) that a three-staged, ten-year plan will be put into action to guide the development of the region for the coming decade.

Minister for lands and planning Gerry McCarthy is confident in the Roads and Transport scheme, which is part of the Territory 2030 initiative.

He said: "The territory is entering a period of high economic and population growth following years of record levels of government infrastructure investment in response to the global financial crisis."

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