Media Release - January 27 2010
Tycoon likes state we're in
 BILLIONAIRE property developer Lang Walker is eyeing investment opportunities in the South Australian market, saying the state has a strong future.
Mr Walker, who has a personal wealth of $1.79 billion, told The Advertiser yesterday that he was impressed with the "vision" of the state.
"Generally, SA is a pretty good state to be working in," he said.
"It certainly has some vision and you seem to know where you want to go. Working with councils and the State Government has been very good in SA.
"They are great because they have got some vision, and a lot of the other states certainly don't have that."
Mr Walker, who is executive director of the Walker Corporation, yesterday announced a new $20 million property deal for the company's $400 million Vicinity industrial estate near Edinburgh.
The Sydney-based company also is developing the $150 million Bluestone residential estate in Mount Barker and is in the planning stages of a $2 billion satellite city at Buckland Park, near Virginia, north of Adelaide.
Mr Walker said he hoped work on the Buckland Park project, which involves 12,000 homes and a new township, would begin by the third quarter of this year.
"I would hope that the Government is going to make a decision on it in the next month or so," he said.
In addition to the $3 billion portfolio of work already designated for the state, Mr Walker said he was looking at other investment opportunities here.
"We are always looking, whether they are industrial, retail, commercial or residential," he said.
" I think we can do a bit more down there (in SA)."
"Right across the market, everyone has been very cautious," Mr Walker said.
"But I think SA, in my eyes, has got a good future and particularly in the residential and in the resources area.
" I like it down there."
Mr Walker also is a major investor in SA company Adelaide Energy.
He invested $3.9 million last year in the junior producer for a 20 per cent stake in the company.
PAGE 46: Toll invests $20 million
SOUTH AUSTRALIAN
Business Monthly
Returns Tuesday
in The Advertiser
Headline: Tycoon likes state we're in
Author: SARAH MARTIN, BUSINESS REPORTER
Edition: 1 - State
Section: News
Copyright © News Ltd, 2010
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