In early 2023 GDI announced that it had entered a Joint Venture with Tulla Group to own, manage and syndicate ‘co-living mining accommodation facilities’ (Co-living JV). Tulla Group is the private investment vehicle of the Maloney family, who built The MAC Services Group, a mining accommodation company that was listed on the ASX in April 2007 and sold to Oil States International in December 2010.

We believe that there is a tremendous opportunity to invest in, own, manage and syndicate mining accommodation facilities. With the expertise of the Tulla Group, the Co-living JV intends to build and acquire such facilities, and once there is sufficient scale and diversity, consider syndicating the real estate.

The Co-living JV currently operates three facilities, one in each of Norseman, Newman and South Hedland, all in Western Australia.