Colourful Business Partners in Charlie TEOs Billion-Dollar Development

SADLY it is the wider community of Western Sydney that will be losing their amenity with not only ongoing fly in and buy ‘Real Estate Tourism’ but also ‘Medical Tourism’ for more air traffic and consequently even more overdevelopment

-fuel dumps for Sydney’s water catchments; at 40% supply

-UNESCO World Heritage Listing for the Blue Mountains Area is under threat

Last year there was a proposal by ASX-listed property group Boyuan Limited to enter into a consortium with Dr Teo, the University of Western Sydney, and logistics firm LOGOS to build a mini city known as the “Northern Gateway development” for 22,000 homes!

The Plan did not get off the ground …

RELATED ARTICLES …

Chinese Developer’s billion-dollar proposal would move Sydney Motorway

6 October 2018

DESPITE the purchase by Boyuan back in 2016 of the development site near the proposed airport for Badgery’s Creek being revealed in the Sydney Morning Herald on 23 December 2016 … yet the identity of the proposal was treated as “commercial in confidence” by the Greater Sydney Commission … and as recently as February 2018!

https://caanhousinginequalitywithaussieslockedout.com/2018/10/06/2543/

Badgery’s Creek: Northern Gateway City Consortium Unveils Masterplan

1 November 2018

https://caanhousinginequalitywithaussieslockedout.com/2018/11/01/3561/

Northern Gateway City plans for Western Sydney Aerotropolis released

2 November 2018

A CONSORTIUM of international and local bodies has outlined its vision for the future Northern Gateway City at Badgerys Creek — but first it is seeking the realignment of the proposed M12 motorway to make it happen.

https://www.dailytelegraph.com.au/newslocal/liverpool-leader/northern-gateway-city-plans-for-western-sydney-aerotropolis-released/news-story/c72ea4326e04b04a74931dd9f3b2971b

Dr Teo Aims to bring World Class Medical and Wellness Centre to South West Sydney

7 November 2018

https://caanhousinginequalitywithaussieslockedout.com/2019/12/13/dr-teo-aims-to-bring-world-class-medical-and-wellness-centre-to-south-west-sydney/

AUSTRALIA’s top cyber spy says CHINESE TECH is too good to be allowed near its key infrastructure

https://caanhousinginequalitywithaussieslockedout.com/2018/11/01/3578/

Colourful business partners in Charlie Teo’s billion-dollar development

Kate McClymont
By Kate McClymont

December 14, 2019

Controversial neurosurgeon Charlie Teo has raised eyebrows not only with the announcement of his plan for a billion-dollar medical-based development in the Blacktown CBD, but with revelations one of his business partners recently fought off multiple bankruptcy actions.

While no source of funding has been detailed, Dr Teo’s company the BBSI Group announced the proposed development of the Blacktown Brain and Spinal Institute, which will include a private hospital “designed by doctors for their patients” and a luxurious hotel for medical-tourism purposes, along with residential, retail and commercial spaces.

Carlo LoGiudice (left) with neurosurgeon Charlie Teo.
Carlo LoGiudice (left) with neurosurgeon Charlie Teo.

One of Dr Teo’s partners in the venture is businessman Carlo LoGiudice who last year came up with financing at the last moment to ward off three attempts to bankrupt him.

Mr LoGiudice avoided the legal strictures of bankruptcy by coming up with the money to settle debts relating to unpaid strata levies, marina fees as well as fees owed to his former lawyer.

Carlo LoGiudice (left) with Melbourne underworld figure Mick Gatto.
Carlo LoGiudice (left) with Melbourne underworld figure Mick Gatto.

Despite the debt recovery action that was taken against him last year, Mr LoGiudice was not made a bankrupt and so he remains lawfully able to enter agreements of this kind.

Like Dr Teo, Mr LoGiudice appears to have a close relationship with Melbourne underworld figure Mick Gatto with photos of Mr Gatto and Mr LoGiudice featuring on the latter’s Facebook page.

On Friday, a matter involving a failed company of Mr LoGiudice was mentioned in the Federal Court. The company Led4Life collapsed in 2016 with debts of more than $6 million, half of which was owed to the tax office.

The Herald has previously revealed that the neurosurgeon’s links to Mr Gatto were cited as a major reason for the doctor’s dramatic split from the charity he founded, Cure Brain Cancer Foundation.

Charlie Teo (left) with Mick Gatto.
Charlie Teo (left) with Mick Gatto.CREDIT:TAMARA DEAN

When a number of the prominent patrons of the charity expressed concern about the reputational risk of the charity’s association with Mr Gatto, who attended some of the fundraising events, Dr Teo was furious.

Tensions came to a boil in mid-2017 when Dr Teo quit the charity, complaining about the amount spent on administration. He later established the Charlie Teo Foundation.

When the Herald sent questions to Dr Teo’s office for a story in September, an associate of Mr Gatto contacted the paper expressing concerns on Dr Teo’s behalf. The associate had specific knowledge of certain questions Dr Teo had been sent.

Dr Teo denied that either he or his office had contacted Mr Gatto. “This is absolutely false,” Dr Teo said via his lawyers.

The current chair of the Charlie Teo Foundation is Valentina Stojanavsko, who is also one of Mr LoGiudice’s current business partners and is the principal of Black Book Legal.

Mr LoGiudice was a former project manager with Australian Water Holdings, a company at the centre of a corruption inquiry into the secret shareholding in the company by the family of corrupt former minister Eddie Obeid, who was lobbying to acquire a lucrative water deal with the state government.

Mr LoGiudice featured several times in the diaries of Mr Obeid which were tendered at a previous corruption inquiry.

Blacktown mayor Tony Bleasdale said the council had agreed in principal to sell the current council-owned administrative centre site to BBSI. A council source said that the price was yet to be agreed upon but it would be at market value.

The source also said the council was aware that Dr Teo had been speaking to a number of councils about his “vision” and that current arrangement came after the mayor and Dr Teo got chatting at a function. Apart from the potential sale of council land, the council does not intend to play any other role in the development.

*Last year there was a proposal by ASX-listed property group Boyuan Limited to enter into a consortium with Dr Teo, the University of Western Sydney, and logistics firm LOGOS to build a mini city known as the “Northern Gateway development” on a 344-hectare block of land previously owned by convicted murderer Ron Medich. That plan did not get off the ground.

The current proposal is the brain-child of a company called BBSI, whose sole director is Lebnan “Leny” Manassa, a developer and excavator.

Dr Teo also founded Teo Healthcare Group in July last year. It quickly changed its name to TLC Wellbeing with Mr Manassa as the sole director. The shareholders are Mr Alexandrou beneficially owning 60 per cent of the company with Teo Nominees holding the rest.

The company, which was set up in August 2018, has two shareholders. Dr Teo’s private company has 40 per cent of the shares with Mr Manassa’s accountant Anthony Alexandrou holding the rest of the company beneficially on someone else’s behalf.

Kate McClymont

Kate McClymont is an investigative journalist at The Sydney Morning Herald.

SOURCE: https://www.smh.com.au/national/nsw/colourful-business-partners-in-charlie-teo-s-billion-dollar-development-20191213-p53juq.html

Western Sydney AEROTROPOLIS Land Rezoning Plans Revealed

The aerotropolis will be divided into 10 precincts, with three initial precincts—the Aerotropolis Core, Northern Gateway and South Creek—identified by the government as offering the greatest growth potential.

READ MORE!

PLANNING ANA NARVAEZ SUN 08 DEC 19

Western Sydney Aerotropolis Land Rezoning Plans Revealed

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Six precincts of land around the 11,200-hectare Western Sydney Aerotropolis will be rezoned by the middle of next year, paving the way for the delivery of new investment and infrastructure in the region.

The government unveiled its strategy for the first phase of development around the Western Sydney Aerotropolis as part of its ambitious metropolis of three cities plans on Friday.

The aerotropolis will be divided into 10 precincts, with three initial precincts—the Aerotropolis Core, Northern Gateway and South Creek—identified by the government as offering the greatest growth potential.

The first precinct, the 1,055-hectare Aerotropolis Core, is set to deliver 60,000 jobs and 8,000 homes when fully-developed, while the 1,120-hectare Northern Gateway will deliver 22,500-plus jobs and 3,400 homes.

The 1,950-hectare South Creek precinct will primarily deliver public space, restaurants and cafes and community facilities, with limited residential development due to aircraft noise and flooding.

Landowners and developers will be able to apply to accelerate the rezoning of a precinct if the proposal meets the strategic planning requirements set out by the Western City District Plan.

Related: Sydney’s Metropolis of Three Cities

▲ Artist impressions of a tech hub at the Aerotropolis.

▲ Artist impressions of a tech hub at the Aerotropolis.


Developer lobby group Urban Taskforce voiced concern that property values had already been driven up by government announcements.

If the NSW government adds additional state infrastructure charges on top of already-inflated land prices, they risk sterilising the land by rendering development unfeasible,” Urban Taskforce chief executive Tom Forrest said.

More details on state infrastructure charges or value-capture contributions are expected by released by next year.

“The sooner we progress these plans, the sooner the development industry can commence the formation and growth of the aerotropolis on the ground,” Forrest said.

The aerotropolis will function as a 24-hour economic hub at the centre of the Western Parkland City—supported by 200,000 new jobs in “resilient” industries like agribusiness, defence and aerospace, health and education. The region is projected to grow by more than 300,000 people by 2036.

▲ The aerotropolis will be divided into 10 precincts, with three initial precincts, including the Aerotropolis Core, identified as offering the greatest growth potential.

▲ The aerotropolis will be divided into 10 precincts, with three initial precincts, including the Aerotropolis Core, identified as offering the greatest growth potential.


The federal and state governments have committed $3.6 billion to road infrastructure in the region as well as the equal funding of the north-south rail link from St Marys to the aerotropolis core precinct at the Western Sydney Airport.

The exact route and stations of the north-south metro rail line will be confirmed next year and is scheduled to open at the same time as the airport in 2026.

NSW Planning Minister Rob Stokes said that the plans provide an opportunity for the community to take part in the planning process.

“The aerotropolis will be Sydney’s newest economic hub and will be a 30-minute city, where people live close to jobs, schools, health services and open space,” Stokes said.

A new planning authority will work alongside the recently-established Sydney Metro Authority to share the progressive development and delivery of the aerotropolis precincts.

First images of the Western Sydney Airport were released in October, with work on the terminal scheduled to start in 2022. Major earthworks on Sydney’s second airport has been under way for more than a year.

The draft planning package is on exhibition until 28 February 2020.

#Western Sydney Aerotropolis#Aerotropolis

AUTHOR

Ana Narvaez

The Urban Developer – Managing Editor

SOURCE: https://theurbandeveloper.com/articles/western-sydney-aerotropolis-land-rezoning-plans-revealed?utm_source=TUD+Master+List&utm_campaign=37510f0175-EMAIL_CAMPAIGN_2019_07_03_11_11_COPY_01&utm_medium=email&utm_term=0_9f25b32131-37510f0175-188322339

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NSW AFFORDABLE HOUSING STRATEGY … Dumped!

AFFORDABLE HOUSING STRATEGY DUMPED

WAS this about the Election? It was declared a priority when Gladis became Premier … but it seems the overseas market is so lucrative that the growing pains are now leading to more OVERDEVELOPMENT in Sydney’s South West …

IT was only last week following a community outcry that three devilopers withdrew their developments for 18,000 HOMES in Appin!

BUT for how long?

… TODAY in Limited News we read Sydney’s South West is to be STOKED to feed into Beijing through the Western Sydney Aerotropolis … is that where the tens of thousands of First Home Buyers come from, Mr Perrottet?

WITH thousands flying in to buy every week and laundering money in the Casinos for our Real Estate … the need for ‘affordable housing’ appears to have been eliminated …

AND development of two more Casinos is underway ….

READ MORE … From the Daily Telegraph 30 November 2019

THEN SHARE! FFS!

RELATED ARTICLE: https://caanhousinginequalitywithaussieslockedout.com/2019/11/28/6-benefits-of-buying-and-investing-in-australian-homes/?fbclid=IwAR1mN6rj0ASZuy0M-nDQl5MP4cvJIP6rI1S8jDxrna8fOqGm53nDINm2sQY

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Photo: Daily Telegraph: Project Sydney: Gladys Berejiklian

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SEARCH OUR WEBSITE TO LEARN MORE … about money laundering, Real Estate Sector exempt from AML Laws, Proxy buyers, Visa Manipulation … Permanent Resident Visa following purchase of Real Estate and some get a PR Visa before coming to Australia!

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PROPERTIES to be Acquired for $1.8B Motorway to Western Sydney Airport

QUOTE …

About 40 properties will be fully or partially acquired and 74 hectares of native vegetation bulldozed for construction of a $1.8 billion motorway to the new Western Sydney Airport.

That’s the humdinger … the stand-out example of utter contempt for SydneySiders, isn’t it? To get out of the way for ‘progress’ … for ‘Vibrants’

PERHAPS even worse for some with the M12 cutting across their properties?

Just like the WestCONnex and NorthCONnex victims either robbed of the Market Value of their properties or strangled by the Motorway at their doorstep!

TO create a thermal mass wasteland … it’s all about those ‘foreign buyers’ particularly from China … their interests and allowing them to park their ‘black money’ in more Sydney slums …

As SydneySiders lose wildlife corridors and urban fringe foodbowl … our food security!

SCROLL down this article to find out more about the Planning Minister’s powers … this was introduced in the term of former Planning Minister Roberts:

https://caanhousinginequalitywithaussieslockedout.com/2018/05/07/so-it-has-begun-the-legalised-theft-of-peoples-homes-to-enable-more-development-office-of-strategic-lands/

Properties to be acquired for $1.8b motorway to new Sydney airport

By Matt O’Sullivan

October 16, 2019

About 40 properties will be fully or partially acquired and 74 hectares of native vegetation bulldozed for construction of a $1.8 billion motorway to the new Western Sydney Airport.

Construction of the 16-kilometre M12 motorway is due to start in 2022 and be completed by 2025, about a year before the $5 billion airport at Badgerys Creek is scheduled to open.

The estimated cost of the project has already risen by more than $400 million to $1.8 billion due to an increase in land values around the site of the airport.

The M12 motorway will offer motorists a direct link to the new airport at Badgerys Creek.Photo: Peter Rae

The federal government included an extra $405 million for the motorway in the Budget in April, taking its funding to $1.45 billion. The remaining $350 million for the M12 will come from the state government.

The Herald revealed in January that the state’s transport agency had been investigating options to either reduce the scope of the project or secure extra funding after putting the cost at $1.38 billion – $130 million above what had then been committed by the two governments.

*The state government released an environmental report for the M12 on Wednesday that showed 36 properties will be partially acquired, and five fully, for the motorway. Most of the properties are farms or orchards. Temporary leases of land will also be needed during construction.

New M12 motorway for Western Sydney Airport

Image

Source: RMS

*The report says about 74 hectares of native vegetation is expected to be dug up for the motorway, including about 1.85 hectares of an existing bio-banking site within Western Sydney Parklands. The state’s bio-banking scheme is intended to offset the loss of biodiversity, including threatened species.

In all, the project is set to impact about 90 hectares of land within the 5280-hectare Western Sydney Parklands, including bush land, walking tracks and the Wylde mountain bike trail.

The state’s roads agency is working with the trust overseeing the parklands on a replacement mountain bike trail.

Penrith City Council mayor Ross Fowler said the route chosen would probably have the least impact of those considered for the M12 motorway over the past few years.

RELATED ARTICLE

ROADS

Cost of motorway to Sydney’s new airport risks blowing out

“It was always going to have an impact somewhere and hopefully this is the one that has the least impact on the population,” he said. “It is a much needed piece of infrastructure.”

The new motorway, which will be two lanes in either direction and not be tolled, will link the M7 at Cecil Hills to the Northern Road at Luddenham and offer motorists direct access to the airport.

While traffic on roads in the wider area will generally be improved as a result of the project, the report said the motorway may lead to an increase in travel times for motorists on the M7 motorway in the morning peak, mostly due to extra vehicles merging from the M12 at an interchange.

“This merging would generate localised delays, particularly in the northbound direction,” it said.

Travel times on the Northern Road from Elizabeth Drive, northbound to the M4 motorway, will also increase due to motorists driving from Western Sydney Airport using the M12 and the Northern Road to travel north in the evenings.

Western Sydney’s population is forecast to rise from two million today to three million by 2036 – or an average of 50,000 extra residents each year – which will pile pressure on roads such as the M12 and other transport in the area.

NSW Planning Minister Rob Stokes said the state was working with the the federal government to ensure that road and transport infrastructure was in place to better connect the region to the rest of Sydney before the first plane takes off at the new airport.

SOURCE: https://amp.smh.com.au/national/nsw/properties-to-be-acquired-for-1-8b-motorway-to-new-sydney-airport-20191016-p5314n.html?fbclid=IwAR1uzAWV0GPSUgT8YV26y15Z8v6nzsYh3fOtvnQQjS6K3uR6WrPbLrPdL8c

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EXCLUSIVE: Deafening sound, flights running all night and a property price plunge of more than 10 per cent: The suburbs that could be hit when western Sydney’s new airport opens

One flight per minute 24/7 and over World Heritage areas.

WHO benefits? Cough … cough … Deve-lopers, Realtors and the HNW and the Middle Class now more than 420 MILLION People from our Big Neighbour to the North

The consequenceshigher density and the heat island effect. Noise and air pollution from landing aircraft … to challenge our Australian Society!

Property analyst Louis Christopher told Daily Mail Australia you only had to look at differing property prices around Sydney’s existing airport to get an idea about how flight paths could impact on house prices.

THERE’S More! And it looks like you need to do somethin’ …. question the pollies about Visa Manipulation … with the lure of buying our Real Estate to gain a ‘Permanent Resident Visa’ ... every day the diaspora is expanding across Sydney and Melbourne … and the following figures explain why …

By 2012 the number representing China’s Middle Class had climbed to 31 percent, constituting over 420 million people. China’s growing middle class presents an array of new economic opportunities to be exploited here in Australia, but also poses significant POLITICAL and DEMOGRAPHIC challenges for us!

This from the AFR … China’s Middle Class is forecast to increase to 600 MILLION in the next five years …  Bain and Company have predicted that the Chinese Middle Class to include an estimated 65% of households!  Having been hit by rising house prices in China, and a tumbling stock exchange … with our housing less expensive …

A new re­port in­di­cates that the num­ber of high-net worth in­di­vid­u­als in China is fast ap­proach­ing one and a half mil­lion. 

The “China Pri­vate Bank­ing 2019” Re­port 2019 re­cently re­leased by China Con­struc­tion Bank in con­junc­tion with Boston Con­sult­ing in­di­cates that as of the end of 2018 Chi­na’s per­sonal in­vestible fi­nan­cial as­sets had reached 147 tril­lion yuan in to­tal.

The num­ber of high-net worth in­di­vid­u­als in China – de­fined as those with per­sonal in­vestible fi­nan­cial as­sets of 6 mil­lion yuan or more, was 1.67 mil­lion as of the end of last year. 

PLEASE SHARE TO LET OTHERS KNOW!

EXCLUSIVE: Deafening sound, flights running all night and a property price plunge of more than 10 per cent: The suburbs that could be hit when western Sydney’s new airport opens

 Charlie Coë For Daily Mail Australia 

30 SEPTEMBER 2019

a close up of a rock: Western Sydney's new airport (digital rendering pictured) will cause residents to suffer under deafening flight paths and lead to uncertainty in the property market, experts have warned

© Provided by Associated Newspapers Limited 

Western Sydney’s new airport (digital rendering pictured) will cause residents to suffer under deafening flight paths and lead to uncertainty in the property market, experts have warned Western Sydney’s new airport will cause residents to suffer under deafening flight paths and lead to uncertainty in the property market, experts have warned.

Construction on the $5.6billion Western Sydney International Airport at Badgerys Creek began a year ago – with the 24-hour airport due to open in 2026.

While the proposed flight paths will not be released for another two years, indicative routes show planes will descend to just 1,500m as they fly over the city’s outer western suburbs before landing.

That means suburbs like Blaxland, Glenbrook and Emu Plains could face deafening roars from landing aircraft.

The Federal Government’s Environmental Impact Statement estimates that by 2063 a flight will depart daily from the airport, which is equal to about a flight a minute. 

Property analyst Louis Christopher told Daily Mail Australia you only had to look at differing property prices around Sydney’s existing airport to get an idea about how flight paths could impact on house prices.

‘In inner-west suburbs like Leichardt that are right under the flight paths properties do trade at a discount,’ the founder of SQM Research said.

‘They do change in value and it can be more than 10 per cent.’ 

‘I can’t imagine there could be any reason for that difference other than planes flying over.’

Core Logic data shows a more than seven per cent difference in median house prices between Mascot – directly adjacent to the airport – and neighbouring Eastlakes. 

a view of a city: 'Over time I think prices will recover like with Sydney Airport but it could be difficult to begin with,' estate agent Hunter Maxwell of LJ Hooker Bringelly told Daily Mail Australia

© Provided by Associated Newspapers Limited ‘Over time I think prices will recover like with Sydney Airport but it could be difficult to begin with,’ estate agent Hunter Maxwell of LJ Hooker Bringelly told Daily Mail Australia

Local realtors in the Badgerys Creek area too predict there could be a negative impact on prices.

‘Over time I think prices will recover like with the area around Sydney Airport but it could be difficult to begin with,’ estate agent Hunter Maxwell of LJ Hooker Bringelly told Daily Mail Australia.

‘You’ve got half a demographic who will stay for the jobs and having an airport next door, but half as well who don’t want the noise.’ 

a close up of a map: While the proposed flight paths will not be released for another two years, indicative routes show planes will descend to just 1500m in the far western suburbs ahead of arrival (pictured in yellow)

© Provided by Associated Newspapers Limited While the proposed flight paths will not be released for another two years, indicative routes show planes will descend to just 1500m in the far western suburbs ahead of arrival (pictured in yellow)

The approval of a third runway at Melbourne’s Tullamarine Airport in 2012 led to LJ Hooker Tullamarine’s managing director Steve Hoblos predicting a 10 per cent drop in property prices.  

*Acoustic expert Barry Murray has also warned those living within 10km of the airport could expect a routinely disturbed sleep.

*In the Blue Mountains town of Blaxland, which is located directly underneath the ‘merge point’ of the different flight paths, the noise is expected to reach 55 decibels almost 100 times a day.

The average conversation volume is around 60 decibels, and Mr Murray said while the sound of a plane flying overhead may not wake residents up, it would disturb their sleep.

‘They may not be aware of the noise, but it affects the level of sleep and therefore the rest they get from that sleep,’ he told ABC News.

Blue Mountains mayor Mark Greenhill told Daily Mail Australia the delay to the flight path announcement was becoming a real concern.

‘We gave our responses and opposition to the environmental impact statement in 2015, but things have changed again and we just don’t know what’s happening,’ he said.

A spokesman for the Deparment of Infrastructure, Transport and Cities told Daily Mail Australia the process of flight path design for the airport was still ongoing.

‘The Government has always been clear there will be a comprehensive process to develop and formalise the flight paths which will include formal community consultation,’ the spokesman said.

a blue and white sign on a pole: The Federal Government's Environmental Impact Statement estimates that by 2063 a flight will depart daily from the airport, which is equal to about a flight a minute

© Provided by Associated Newspapers Limited The Federal Government’s Environmental Impact Statement estimates that by 2063 a flight will depart daily from the airport, which is equal to about a flight a minute

He had earlier described the delay to releasing details of the flight paths as ‘insulting and disrespectful.’

Prime Minister Scott Morrison this month heralded a new visitor centre at the airport as a drawcard for locals and tourists with prime views of the site’s construction.

‘Locals and tourists will be able to take in Western Sydney International Airport years before a plane even takes off,’ he said in a statement. 

‘This centre will provide an opportunity for the people of Western Sydney to see first-hand the transformation underway in the region, driven by the airport’s development.’  

a close up of text on a white background: Prime Minister Scott Morrison this month heralded a new visitor centre (pictured) at the airport as a drawcard for locals and tourists with prime views of the site's construction

© Provided by Associated Newspapers Limited Prime Minister Scott Morrison this month heralded a new visitor centre (pictured) at the airport as a drawcard for locals and tourists with prime views of the site’s construction

SOURCE: https://www.msn.com/en-au/news/australia/exclusive-deafening-sound-flights-running-all-night-and-a-property-price-plunge-of-more-than-10-per-cent-the-suburbs-that-could-be-hit-when-western-sydneys-new-airport-opens/ar-AAHZgxm?li=AA4Znz&%25252525253Bocid=spartanntp&fbclid=IwAR0KgymSeX8c-TfRi-Hoo0SDPLwHNbC58CBMRLZaheMoMeKHorzuCuSmg3I

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JUWAI Claims Chinese Property Deluge imminent!

HOPEFULLY LVO is correct … however there are millions of People of High Net Worth across the World aside from the Chinese why is the Morrison Government acting contrary to the interests and well-being of a whole Cohort of Australians seeking to buy ‘a home’ when foreigners can fly in and buy our domestic housing?

AS suggested by a Commentator … why would they stop at domestic housing?

‘Come on people, let’s get real and understand that Chinese tourists are actually coming here on WEALTH AND PROSPERITY trips. They are coming here on organised money tours and are shown all the best and most profitable commodities we have to offer, by …you guessed it…Chinese spruikers.’

The Unconventional Economist disputes this claim from Juwai … that 27% of Mainland Chinese tourists surveyed plan to look at properties over the next year; that Australia was their Number 1 destination

AND this is why!

Because the Chinese capital account is tightening not loosening, recently via Nikkei:

As China allows the yuan to depreciate to a level not seen in 11 years, financial authorities have rolled out measures to stem capital outflows from the mainland.

The new rules include stricter oversight of banks in times of capital flight and restrictions on real estate developers’ access to foreign currency bonds. If the financial system is judged to be on the brink on instability, the State Administration of Foreign Exchange, or SAFE, will declare the situation “abnormal.”

Under that assessment level, banks will be evaluated on the amount of yuan wired offshore and the volume of foreign currency sold. If the levels stray too far from the national average, the bank’s grade will diminish. Such lenders will then face limits on banking activities.

China is tolerating the softer yuan to ease the impact on domestic exporters during the prolonged U.S. trade war. But the government looks to avoid a repeat of 2015, when currency traders dumped the yuan after authorities lowered the reference rate.

…SAFE has also ordered lenders to request extra documentation before signing off on offshore remittances. If a parent wishes to pay school expenses for a student studying abroad, an acceptance letter must be presented. To transfer money for other reasons, documents such as a work permit must be furnished.

…”Wiring money overseas is not allowed for the purposes of purchasing real estate or insurance products,” said a representative at a second-tier Chinese bank.

AND capital controls since 2016 have demolished the inflow of money laundering capital into realtyand that far from a new deluge of property buyers … we can expect Chinese tourists themselves to stop coming in due course!

SOURCE: https://www.macrobusiness.com.au/2019/09/property-parasite-claims-chinese-property-deluge-imminent/


  • Chinese buyers in Australia: Here for holidays and here to buy property

Chinese buyers love to look for property when they’re on holidays and many of them have their sights set on the Gold Coast. Photo: iStock

Chinese buyers in Australia: Here for holidays and here to buy property

NICOLE FROST

SEP 18, 2019

Chinese buyers have Australian property set firmly in their sights again, with a new survey revealing nearly a third of Chinese tourists plan to shop for property while they’re on holiday.

Property portal Juwai’s new survey of Chinese consumers found that 27 per cent of mainland Chinese tourists planned to look at properties over the next year as part of their travels, and that Australia was their No.1 destination to go shopping.

In Juwai’s list of top Australian destinations by inquiry, Brisbane came in third and the Gold Coast fourth, after Melbourne and Sydney.

Juwai spokesperson Dave Platter said demand for Gold Coast real estate in particular was likely to increase as buyers continued to return to the Australian property market.

“On the Gold Coast in particular, in both of the past two quarters, Chinese buyer inquiries have gone up double digits,” he said.

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The Gold Coast’s infrastructure and relatively inexpensive property market is attractive to Chinese buyers. Photo: Glenn Hunt

“It’s got relatively inexpensive prices for what you get, and there so much infrastructure and investment going in,” Mr Platter said, noting that the new public transport connections held particular appeal. “And it’s easy to get to from China.”

Of the Chinese consumers surveyed, 49 per cent were looking to travel during the school holidays in July and August, 42 per cent were looking at National Day Golden Week in October, and 29 per cent during Chinese New Year Golden Week in February.

While the numbers of buyers coming from China had been falling since 2016, internal research showed that it had recently flattened out and was showing signs of increasing again.

Mr Platter added that for Queensland especially, demand was quite seasonal, with a lot of buyers shopping for properties while they were on holiday.

“They’re really looking, and they might come back to purchase,” he said. “But we hear all the time about buyers who show up and buy.”

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Off-the-plan developments are particularly attractive to Chinese buyers. Photo: Supplied

“A lot of the agents will rent out a van and drive families around, and introduce them to the local highlights.”

Mr Platter said these tourist buyers were primarily looking at new developments, in part because of the Foreign Investment Review Board’s guidelines around non-residents buying resident property.

New builds were particularly appealing to Chinese buyers, he added, and many had already made good money from their investments in newly-built properties at home.

He said that as far as they could see, concerns about the build quality of off-the-plan purchases didn’t seem to be a big deterrent.

“It just reinforces the importance of buying from a good developer,” Mr Platter said.

Buyers preferred firms who had longer track record of development, and Mr Platter added that some of the biggest developers in Australia came from China, and so were already known to them.

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Chinese buyer inquiry on Australian property has increased this year, according to Juwai. Photo: IStock/chameleonseye

He cited Australia’s quality of life, development and commercial ties with Asia as reasons it was a popular destination, as well as the power of education.

“Australia attracts a very large number of Chinese students,” he said. “Buying for a student who is going to be studying here is one of the most cited motivations among our buyers.”

Agent Val Parkin of Alex Phillis Real Estate in Paradise Point said he was getting quite a lot of inquiries from foreign buyers on his FIRB-approved apartment listings.

“I would say 50 per cent,” he said. “It has picked up for sure. We actually sold five already in the past month.”

He said the FIRB approval was big factor for foreign buyers and those properties currently offered a 10 per cent return, which made them appealing to investors.

“We advertise a lot on social media – through those channels,” he said.

Previous Juwai research had found an 50 per cent increase in the first half of 2019 – compared to the first half of 2018 – of inquiries from buyers looking for retirement properties, with the site now adding a specific retirement portal to their search engine.

SOURCE: https://www.domain.com.au/news/buyers-coming-on-holidays-to-queensland-and-buying-homes-881760/

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2017: CHINA EYES NEW SYDNEY AIRPORT: AS PART OF ‘BELT AND ROAD’ PLAN

HOW many still have not joined the dots … including those from the political sphere … the legal profession … what this proposed major second airport for Sydney is all about?

IS it all about our big neighbour to the north? AND what’s in it for them?

HOW soon after construction will it too be privatised? And in whose interests?

Considering the National security threats that have been allowed … will this be any different?

China eyes new Sydney airport as part of ‘belt and road’ plan

Lisa Murray

Lisa Murray

Senior writer

May 28, 2017

*China is eyeing Sydney’s new airport as a potential project that could be linked to its trillion dollar “One Belt, One Road” infrastructure plan, according to a government-linked think tank.

*The interest in Sydney infrastructure follows Canberra’s decision to keep its $5 billion Northern Australia development plan separate from OBOR, despite a push from Beijing earlier this year to officially link the two initiatives.

*“China is not just interested in infrastructure projects in Northern Australia being linked with Belt and Road,” said Han Feng, from the National Institute of International Strategy at the state-run Chinese Academy of Social Sciences.

China’s President Xi Jinping pushed the ambitious One Belt, One Road plan at a press conference in Beijing earlier this month.  Getty Images

*“Sydney’s infrastructure plan requires a large amount of capital and they need to seek international cooperation on these projects. Subways, airports and roads; these infrastructure projects are China’s strength.”

Earlier this month, the Turnbull government announced it would invest $5.3 billion over 10 years to build an airport at Badgerys Creek in western Sydney. The Sydney Airport Group opted not to take up its option to build the new airport, leaving it to the government to take over the project. Work is due to start next year and it is expected to be operating by 2026.

*“Australia’s projects meet well with China’s strengths,” said Mr Han. “It would be ideal if there was co-operation between the two governments. It all depends on Australia’s mindset.”

*So far, Australia has taken a conservative approach to its engagement with China’s OBOR plan. Unlike New Zealand, it opted not to sign a memorandum of understanding with China, which would have formalised its involvement. Trade Minister Steve Ciobo travelled to Beijing for China’s OBOR summit in mid-May but Australia is more a cautious observer than an active participant at this stage.

*Australian companies have been quite active but Australian politicians have a lot of concerns,” said Mr Han.

*“Not having an MOU between China and Australia will slow down China’s investment in Australia.”

China’s President Xi Jinping, who is pushing China’s ambitious One Belt One Road plan. AP

Beijing is looking to upgrade infrastructure along the old Sild Road through Central Asia to Europe as well as creating new maritime trading routes.

It’s not just Australia that is concerned about the geostrategic motives behind China’s grand infrastructure plan. Other countries are taking a more sceptical view of OBOR, as China looks to bolster its influence and position in the region.

China is eager to secure Australia’s involvement amid some push back from state-owned companies, which are being asked to invest in countries with unstable political and economic outlooks.

*Involving countries like Australia and New Zealand would allow Beijing to lower the overall risk profile of OBOR.

“Australia always claims it is part of Asia, but it wants to keep its distance from China,” said Liu Qing, from the China Institute of International Studies, a think tank that sits under the Foreign Ministry.

“The government wants to cooperate with China but they have too many concerns.”

Reviving the old Silk Road. A map showing China’s One Belt, One Road strategy. 

“If the new Sydney airport is open to foreign investment, Chinese companies would be happy to get involved,” said Mr Liu.

“The new airport in Beijing, which is opening in 2019, will be the biggest in the world.”

David Olsson, a consultant to law firm King & Wood Mallesons who sits on the advisory board of the Australia-China Belt and Road Initiative, said the new Sydney airport was: “a major infrastructure development and many countries are looking to see how they can take part”.

“China has built hundreds of world class airports,” he said. “Why wouldn’t we talk to them about their expertise? If it means labelling it a Belt and Road project that gets the imprimatur of China’s support, giving it access to expertise and capital at potentially good rates, then so be it. It would make no business sense if we don’t consider this option.

Mr Olsson said the northern Australia development plan had become “too politicised”.

“We need to develop a robust process for identifying our priority infrastructure projects and signal clearly which ones are open to foreign investment or participation,” he said.

SOURCE: https://www.afr.com/policy/foreign-affairs/china-eyes-new-sydney-airport-as-part-of-belt-and-road-plan-20170526-gweb65?fbclid=IwAR3ACFwGjEKCYfYX0rKT_NaKda0JrRQcSAveNiwBZ8_LWD_bJcU6X5KpSLQ

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WSA: COCKPIT VIEW AS NEW AIRPORT BEGINS TO SPREAD ITS WINGS

WHAT WSA at Badgery’s Creek will mean … no trees for as far as the eye can see … no Koala habitat … the heat island effect intensified … a climate disaster for more slums …

RELATED ARTICLE:  The Pegasus … the Flying Horse into Sydney and Melbourne

OCTOBER 2017 Sydney was met with the arrival of the seventh Chinese Airline … BEIJING CAPITAL AIRLINES with direct flights between Sydney and Qingdao in AIRBUS A330 aircraft … is this marking a new era for real estate tourism?

And the enormous growth in visitors from the World’s emerging superpower?

CHINA has become Australia’s largest source of international visitors, finally overtaking New Zealand in May 2017!

And by 2026, the number of visitors from mainland China is expected to have tripled to 3.3 million a year, according to a report by consultancy group LEK.

In 2018 and currently in 2019 at any point in time there are 2.2 Million Visa holders across our land … largely in Sydney and Melbourne.

Read more!

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Cockpit view as new airport begins to spread its wings

The Western Sydney Airport visitor centre.
The Western Sydney Airport visitor centre.

Aviation enthusiasts will be able to explore Western Sydney Airport from today, seven years before it opens, with the help of augmented reality technology at a new visitor centre.

Federal Infrastructure Minister Alan Tudge will officially open the centre today at Luddenham, providing a front-row seat for the airport construction as well as a digitally enhanced walk-through of the terminal and runway.

Watpac constructed the centre, which features floor-to-ceiling glass panels for unobstructed views of the building process.

Activity on site will start to increase in the next six months following the awarding of the major earthworks contract to Lend Lease and CPB Contractors. The companies are already undertaking initial earthworks on site involving the removal of 1.5 million cubic metres of earth.

Concept image of the outside of the Western Sydney Airport visitor centre.
Concept image of the outside of the Western Sydney Airport visitor centre.

By the end of the process, 25 million cubic metres of earth will have been moved around the site, to allow for construction of the runway and the integrated domestic and international terminal.

“Visitors to the site often comment about the immense scale of work under way but I tell them this is nothing compared to the major earthworks phase,” Western Sydney Airport chief executive Graham Millett said.

At least 30 per cent of the 11,000 jobs during the construction stage would go to western Sydney locals, he said, with that figure increasing to 50 per cent when the airport opened.

In addition, a fifth of all jobs had been earmarked for apprentices, trainees and other learner workers.

The winning architectural design for the $5.3 billion airport will be announced by the end of the year and a builder chosen by 2021, with the opening date set down for December 2026.

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FYI …

Concept image of the outside of the Western Sydney Airport visitor centre.

SOURCE: https://www.theaustralian.com.au/business/aviation/cockpit-view-as-new-airport-begins-to-spread-its-wings/news-story/da979a7bf3a3c27e905cb66b65a23912?fbclid=IwAR3xJZ6WKK1s4ffl4mLnHYAuQhULfHX4RrK516WpUneg2i3_rg7DQbFHMQ4


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LENDLEASE WINS BADGERYS CREEK AIRPORT CONTRACT

The project will see more than 35-heavy dump trucks and 60-scrapers move up to 75,000 cubic metres of material each day

DINAH LEWIS BOUCHER

MON 02 SEP 19

Lendlease Wins Badgerys Creek Airport Contract

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Lendlease engineering and joint venture Partner CPB Contractors have been awarded the $644 million contract to undertake the major bulk earthworks at Western Sydney International Airport.

The new bulk earthworks package will commence early next year and is expected to be finished in 2022.

The Australian government is investing $5.3 billion in equity to deliver the airport in Badgerys Creek through the government-owned company, “Western Sydney Airport”.

The latest contract, which will see up to 500 people working on the first stage of the Nancy-Bird Walton airport, includes delivery of the detailed design, construction of earthworks and drainage for the new airport, as well as topographical design for the entire airport’s precinct.

Excavation work taking place at Nancy-Bird Walton Airport in Badgerys Creek

▲ Excavation work taking place at Nancy-Bird Walton Airport in Badgerys Creek.


Lendlease’s engineering arm is for sale following being hit by losses and concern private contractors had been taking excessive risks to win low-margin work, the unit is still taking on projects deemed lower risk.

The latest contract, which will see up to 500 people working on this stage of the Nancy-Bird Walton airport, includes delivery of the detailed design, construction of earthworks and drainage for the new airport, as well as topographical design for the entire airport’s precinct.

Chief executive of Lendlease Building and Engineering Dale Connor says the deal is one of Australia’s largest-ever bulk earthworks infrastructure projects to be awarded outside of the mining sector.

The project will see more than 35-heavy dump trucks and 60-scrapers move up to 75,000 cubic metres of material each day to excavate and place a total of 25-million cubic-metres of earth throughout the contract.

“As Western Sydney’s future aerotropolis, the work on Western Sydney International will be a major contributor to the economic and social development of the region,” Connor said.

Stage one of the earthworks package will see a single runway airport constructed with capacity for up to 10-million passengers a year.

The western Sydney airport is due for completion in 2026.

Lendlease and CPB Contractors are equal joint venture partners for the first package of works, currently underway at the 1780 hectare Western Sydney Airport site, which kicked off in September last year.

The project also adds to CPB Contractors’ growing list of airport infrastructure projects, including the airfield works for the new runway at Brisbane Airport, and metro projects including WestConnex in New South Wales and Brisbane’s Cross River Rail.#CPB Contractors#Lendlease#Badgery’s Creek#Western Sydney Airport

AUTHOR

Dinah Lewis Boucher

SOURCE: https://theurbandeveloper.com/articles/lendlease-wins-badgerys-creek-airport-contract?utm_medium=email&utm_campaign=030919%20NSW&utm_content=030919%20NSW+CID_ed2f7b1ba73435eeb40c92477843c3da&utm_source=email&utm_term=Continue%20Reading

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SKY IS THE LIMIT FOR PROPOSED BADGERYS CREEK AEROTROPOLIS

ONE minute Liverpool Mayor Wendy Waller says:

‘We don’t want sky-high slums of the future’ …

AND the next as a “one in 100-year opportunity. I think you will see the heights that are in the conceptual drawing”

… despite the current defective building crisis!

THE vision is for an aerotropolis with a new agribusiness precinct ideally to export fresh produce.

BUT where will the water come from to quench the thirst and wash millions more people, and support more export food produce?

Related Article: ‘Sydney told to expect Water Restrictions Soon as Dam levels Dive’

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Sky is the limit for proposed Badgerys Creek aerotropolis

It will be the location of the new Western Sydney Airport but development at Badgerys Creek will not be limited to just the airport. Future predictions of what the suburb will look like showcase it as a bustling aerotropolis to rival some of the best cities in the world.

Ben Pike, The Sunday Telegraph

July 20, 2019

DAILYTELEGRAPH1:00How Sydney will look in the future

Developers have created a bold vision for Sydney by 2040. So what will these homes look like and where will they go?

A brand new city attached to Western Sydney Airport will feature 40-storey towers and have a river running through it.

That’s the 2040-2050 prediction of urban planning experts who have released concept designs for the aerotropolis at Badgerys Creek.

As construction on the $5.3 billion airport marches on, Liverpool Mayor Wendy Waller described the images as a “one in 100-year opportunity”.

“I think you will see the heights that are in the conceptual drawing,” Ms Waller told The Sunday Telegraph.

“Why not? It is a new city it is a new space.

“It’s a new area that doesn’t have any constraints on it. While it looks like the Jetsons, that might be what happens.”

Western Sydney International (Nancy-Bird Walton) Airport is scheduled to open in 2026.

The aerotropolis around the airport will likely support 200,000 jobs, according to NSW Premier Gladys Berejiklian.

This includes a new agribusiness precinct that will link directly with the Sydney Markets and ideally export fresh produce.

Ms Waller said there will be hotels and business housed in towers.

“This is an opportunity that we won’t get again — a one in 100-year opportunity,” she said.

“And if we get this wrong it is going to look really silly. But I don’t believe that’s going to be the case. I think people are quite genuine in wanting to get it right.”

Liverpool Mayor Wendy Waller says the development of Badgerys Creek is a “one in 100-year opportunity”.
Liverpool Mayor Wendy Waller says the development of Badgerys Creek is a “one in 100-year opportunity”.

Master plans for the aerotropolis are not due to be released until 2020. They are being done by the Western City & Aerotropolis Authority — which represents state and federal governments.

*The Authority has signed memorandum of understandings with various high level industry bodies including the Australian Space Agency and company Vitex Pharmaceuticals.

CAAN: A little internet search reveals more about those, it would appear, who have been behind the push for the Aerotropolis:

Vitex Pharmaceuticals is a wholly Australian-owned and family operated company established in 1989. Founded and operated by the Chami family.

Elie Chami, now company Chairman, emigrated from post-war Lebanon to Sydney in the 1970s when he was 16 years old. Having immersed himself in the local culture for almost two decades, he believed there was significant potential in introducing Australian quality standards of complementary medicines to the Arab world — at the time an emerging market for therapeutic products. In 1989, Elie and his son Aniss established Vitex International Services and began exporting Australian made complementary medicine to the Middle East and Arabian Gulf region.

CEO Sam Sangster (Western City & Aerotropolis Authority) said the new city will have a big impact on surrounding areas.

“There will be office space at the aerotropolis but it’s more likely to be in Penrith, Liverpool and Campbelltown,” he said.

Our primary KPI is about generating 200,000 knowledge jobs and to make that work we need to make sure that those three CBDs are playing a significant role.

“That means we need to significantly push development in each of those CBDs, where we would like to see A-grade buildings being built.”

Mr Sangster said he expects aerotropolis building heights to be lower than in the Urban Taskforce image, but added “the images are great in that they are futuristic thinking”.

“It’s not just another CBD, it’s not just another Chatswood — there is nothing like it anywhere else in Australia right now,” Mr Sangster said.

The site of the Western Sydney Airport at Badgerys Creek. Picture: Toby Zerna
The site of the Western Sydney Airport at Badgerys Creek. Picture: Toby Zerna

Urban Taskforce CEO Chris Johnson said it is important to make bold predictions for the future of the 11,200ha parcel of land.

He would like it to resemble the Tsukuba science city outside Tokyo in Japan.

CAAN: An internet search: Tsukuba science city outside Tokyo; does not appear to be futuristic or tall like that envisaged by Urban Taskforce?

JOHNSON: It will be a proudly new city with significant employment as well as retail, amenities and residential buildings,” he said.

“The vision we have developed has a water body flowing through it and has significant greenery and landscape to reflect the parkland city concept.

“The buildings are deliberately futuristic and represent innovative design principles. Many buildings will incorporate rooftop gardens and green walls.”

Planning Minister Rob Stokes refused to comment on any part of this story.

SOURCE: https://www.dailytelegraph.com.au/news/nsw/sky-is-the-limit-for-proposed-badgerys-creek-aerotropolis/news-story/014f82c11db03ec8e964966f740bb8c3

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