Property investors and developers from the Gulf are eyeing Australia as a major international market, with a shortage of housing creating an environment of high returns and significant long-term growth potential.
Australian real estate companies are holding roadshows and meetings with leading developers, family offices and funds from the UAE and Saudi Arabia this week, Arabian Business reports.
And earlier this month, UAE developer Arada announced it was making its international debut in Australia, where it plans to build 2,500 homes in Sydney. Strong population growth in Australia has led to severe housing shortages in major cities, including Sydney, Melbourne, Perth and Brisbane.
A potential property boom in the run-up to the 2032 Olympic Games in Brisbane is also driving interest from investors.
However, Gulf-based companies are likely to face some unfamiliar challenges in Australia, where the construction industry is heavily controlled by unions.
More than 10,000 workers went on strike across the country today in protest over a forced federal takeover of the main building union following allegations of corruption and criminal infiltration by biker gangs.
