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CENTRALS COLLABORATES WITH HOUSING AUTHORITY IN PROPERTY DEVELOPMENT

Central Systems Pty Ltd (Centrals), a subsidiary of Resource Development Group Limited (RDG), has executed a Contract for Sale with the Western Australian Housing Authority (HA) to acquire a block of land located in Secret Harbour, Rockingham area, Western Australia for the purpose of constructing a combined residential and commercial development.

This agreement is the first part of a broader framework agreement whereby Centrals and the HA have undertaken to work together to produce quality affordable housing and associated commercial premises on the site. In effect, the terms of the Contract for Sale provide for deferred payment for the land until completion as well as the HA providing an undertaking to purchase a number of apartments in the completed development.

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