As demand fluctuates in the property market, developers are likely to adapt their products and diversify their portfolios. We are likely to continue to see an increase in the proportion of commercial and industrial developments – particularly in the logistics and supply chain industries.
The market will also need to react in order to balance the more complex issues surrounding the availability of overseas materials and supplies, against the cost of procuring materials and supplies locally. While reliance on global procurement strategies are adjusted and the competing interests of relevant stakeholders settle, we may also see an increase in projects being financed through alternative sources, such as direct investment or fund-through models, rather than the more traditional debt funding.
Michael Repse is a Senior Associate in the firm's property & development practice.
He advises on front-end construction law, and has acted on a range of residential, commercial, retail, industrial and mixed-use developments throughout Australia.