Altum Property Group keen to fast track on-island community infrastructure for Great Keppel Island
Posted on June 23rd, 2020
Click here to read the official media statement from Altum Property Group.
After submitting their Financial Management Capability Assessment (FMCA) to state government earlier this year, Altum Property Group has been working closely with relevant state government departments regarding the GKI Resort development timeline. Deloittes, engaged by the state government, has assessed Altum’s FMCA, with the final approvals and transfer of leases now in the hands of the state government.
Through detailed assessment, Altum have requested that state government funds already committed to undersea delivery of power and water to GKI be used to fast track the essential common user infrastructure required on the island as Stage 1 of this critical development.
This project will deliver 500 construction jobs for the 12-year construction period and long-term will support 1,500 jobs, both on and off the island.
The commencement of early works will facilitate new contracts and jobs on and off the island, with the estimated value of the early works injecting $45m into the economy in the first 12 months, ramping up to deliver stage one of the resort accommodation, which is 100 hotel apartments.