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Tasmanian development praised by premier

The premier of Tasmania, Laura Giddings, has welcomed plans for a residential development on the island.

Australian property development plans on the island of Tasmania have been welcomed by the state's premier, Laura Giddings.

 

 

The ParanVille residential project, which will be situated on Hobart's east shore and involves an investment of around $350 million (£240 million), was approved recently by the Tasmanian Planning Commission.

 

 

Ms Giddings said the subdivision is one of the largest in Tasmania's history and will provide a boost to the state's construction industry and property market during a difficult economic time.

 

 

"This is a significant sign of confidence in the Tasmanian economy and I would like to thank the developers MBKIM Group for the commitment they have shown to this project over many years," added the premier.

 

 

It could play a significant role in rejuvenating the property market in the area and has the support of local residents, she concluded.

 

 

The Tasmanian government recently announced plans to offer more choices for social housing tenants.

 

 

Posted by Ravin Chatlani

- Tasmania, property, Hobart, economy, planning

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