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Property News

New regulations may speed up building process

March 06, 2012

When investing in commercial real estate, obstacles frequently get in the way of executing an effective construction plan.

Often licences and permits must be obtained, followed by seemingly endless paperwork that could turn the rapid growth of your commercial property investment into a slow crawl.

Australians may soon see some relief from some of the red tape involved with government-funded projects, as a result of a newly modified version of Implementation Guidelines for the National Code of Practice for the Construction Industry.

Tendering for projects is meant to be simpler, easier and more efficient with implementation of the revised guidelines from May 1 2012.

Minister for employment and workplace relations Bill Shorten is confident the change will help to strengthen the building sector, which he described as critical to the economy because of its impact on jobs, growth and productivity.

He said: "These guidelines will help more people improve their business processes and be competitive in securing government funded contracts in the building and construction sector."

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