GDI PROPERTY GROUP / Co-living Joint Ventures
GDI PROPERTY GROUP

Co-living Joint Ventures

GDI signed transaction documents to enter a Joint Venture to own, operate and syndicate Co-living mining accommodation (Co-living JV).

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 four facilities, one in each of Norseman, Newman, South Hedland, all in Western Australia and one in Moranbah, Queensland.

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