Icon has spent $26 million on the Opal Evacuation and repairs.
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The $26 million Opal Tower Bill
Tag: Opal
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Fire Defects Risking Lives
#Construction #Defects #Fire Fire protection defects might be the next Australian construction issue facing the industry. References Builder claims he was sacked for pointing out fire safety defecthttps://www.theage.com.au/politics/federal/builder-claims-he-was-sacked-for-pointing-out-fire-safety-defect-20190717-p5283f.html?fbclid=IwAR1qxtIcp78k0zdCPUdekxAs_YGBftJVuDQKgRUH-uBGm_565Fu12M5k6bs
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The Opal Tower Defects Bill
#OpalTower #Defects #Construction Icon construction only allocated $1 million for defects in Opal Tower. An insufficient amount given that Icon has reportedly spent $24 million already. References Opal Tower builder Icon put aside $1 million for building defects but has spent $24 million so farhttps://mobile.abc.net.au/news/2019-08-28/opal-tower-developer-icon-reveals-24-million-spent-on-repairs/11452742?pfmredir=sm&sf218208758=1 Opal Tower built on ‘bargain basement prices’ — say subcontractorshttps://www.news.com.au/finance/business/other-industries/opal-tower-built-on-bargain-basement-prices-say-subcontractors/news-story/a55d5c6bc396a013f4e82b38252d5890
#Research #R&D #Australia Australia’s Research and Development investment is stagnating and dropping on a global level. References https://www.brisbanetimes.com.au/politics/federal/not-a-good-sign-australia-s-r-and-d-investment-slips-against-developed-peers-20190826-p52kvd.html
#Construction #Evacuation #Apartment A decade-old apartment building in Mordialloc, Victoria has been evacuated due to fire cladding and life safety risks. This problem is going to continue to grow. References Melbourne apartment block unsafe to live in due to cladding and fire safety, residents told to leave https://www.abc.net.au/news/2019-08-23/cladding-and-mould-forces-residents-out-of-apartment-block/11443976
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Opal Tower Court Case Delayed
#OpalTower #CourtCase #Australia The Opal Tower class action lawsuit has been delayed by 42 days due to the complexity of the class-action lawsuit. Let’s look at the Judges concerns and the portions of the Home Building Act that would be relevant to this case. References https://www.abc.net.au/news/2019-08-09/sydney-opal-tower-class-action-lawsuit-proceedings-delayed/11398794
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Darwin’s Non-Compliant Buildings
#Darwin #Construction #Non-Compliant Several buildings in Darwin and surrounding suburbs have been discovered to have structural non-compliant issues. Should the department have made their investigation public so prospective buyers could have been informed? References NT Government knew of structural flaws in Darwin buildings, but didn’t tell owners https://www.abc.net.au/news/2019-08-08/nt-government-units-non-compliant-15-months-didnt-tell-owners/11392584
#Australia #Development #Construction Let’s critique the Socialist Party of Australia’s response to the decline in construction confidence. The idea of nationalising dodgy developers is really going to socialise the loss. References
#RalanGroup #Employment #Recession It appears that the Ralan Group may have spent the deposits of people who purchased off the plan. References Most off-plan deposits for Ralan units ‘have been spent’ https://www.realestate.com.au/news/most-offplan-deposits-for-ralan-units-have-been-spent/
#OpalTower #Construction #Insurance Opal Towers’ Insurance premiums have increased 20 time and agents are telling us that Buying off the Plan is still in demand! References Opal Tower builder agrees to pay $1.7m insurance https://www.afr.com/property/residential/opal-tower-builder-agrees-to-pay-1-7m-insurance-20190731-p52ci6 Opal Tower fiasco unlikely to dent off-the-plan sales, agent tips https://www.realestatebusiness.com.au/breaking-news/18799-opal-tower-suit-unlikely-to-dent-off-the-plan-demand