Construction & Property Development

India - Three mega road projects in the pipeline

Source: Accord Fintech, 01 September 2009

Opportunities are now increasing for the builders, with UPA government's renewed focus on the road sector. The road ministry will be inviting bids for three mega projects worth around Rs145 billion (US$3 billion) in the current year. The Indian government aims to bring in Rs2 trillion (US$41 billion) of investment into the industry over next 2-3 years.

By the end of 2009, the government would be inviting bids for three mega projects, and was looking at projects which involve building 500 km of road at an indicative cost of US$1 billion. The government was also looking to build 11,000 km of roads worth Rs1 trillion (US$20.5 billion) in the current fiscal. It has set a target of taking the road building activity in the country to 20 km of roads a day from the current 2 km a day.

Malaysia - Foreign firms promised up to US$198 million investment in halal parks

Source: Business Times, 04 September 2009

Halal Industry Development Corp (HDC) said that foreign investors have promised to invest RM700 million (US$198.3 million) to build factories and warehouses at designated halal parks in Malaysia, despite HDC's target of only RM100 million (US$28.3 million) for the year. Halal parks are industrial areas specifically set up for companies to carry out activities related to halal products.

With such encouraging response from foreign investors, HDC is now setting a target to attract RM500 million (US$141.6 million) in FDI (foreign direct investment) into the halal parks in 2010. Two major multi-national and foreign companies, namely Fraser & Neave (F&N) and Concept Amenities of Australia have confirmed starting operations at the halal parks by year-end.

Australia - Airport building projects restricted

Source: The Australian, 04 September 2009

Australia's Transport Minister has warned the nation's privatised airports against inappropriate development on airport land and flagged new regulations making it more difficult to build some projects. The rules will target moves to build long-term residential facilities, aged or community care buildings, nursing homes, childcare centres, hospitals and schools on airport land.

They will effectively remove from airports the ability to approve such projects if they cost less than A$20 million (US$17 million). Industry sources said a catalyst for the move was a controversial attempt to build an Islamic school at Sydney's Bankstown airport. There has been increasing friction at some airports between aviation users and the desire of operators to diversify and boost revenue by developing airport land.

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