Wednesday, September 28th, 2011 - Astra Resources
Dubai based development management company, Janayen, has entered the Australia market after signing a joint venture agreement to provide workers’ accommodation targeted at the booming mining industry.

Janayen’s accommodation and facilities management in the United Arab Emirates includes workers accommodation and commercial contracts in Dubai, Abu Dhabi, and Saudi Arabia for some of the world’s largest corporations and government departments.

The company has opened an office in Brisbane, and with slated projects in Queensland and Western Australia, will have a total workbook worth over $300 million.

Janayen chief operating officer Breff Gorman says the company has been looking to enter the Australian market for some time, and their joint venture with resources company Astra Resources provides the perfect vehicle in which to do so.

“Janayen have established an enviable reputation in the UAE for the successful delivery of a range of services from financing, designing and development of workers accommodation through to transport, security, cleaning, maintenance and catering for the accommodation market,” Mr Gorman says.

“Our joint venture with Astra will merge our respective expertise in the development and management of workers' accommodation facilities to house mining workers, primarily in the Bowen Basin region in Queensland and also in Western Australia.

“We intend to bring our experience and range of services and apply them to the Australian mining industry with a view to eventually expanding throughout Southeast Asia.”

Mr Gorman says the favourable Australian market, including the ongoing resources boom and close ties with trading partners such as China, strong dollar and stable economic and political environment, have also factored in their decision to establish themselves here.

Both Astra and Janayen will be responsible for securing debt and bond finance for the construction costs associated with development of projects, with their respective equity interests to be shared on a 50 per cent each basis.

Janayen and Astra intend to have their equity interests in the joint venture listed through the Janayen Property Trust on the Singapore Stock Exchange within the next two years.

Mr Gorman says Astra’s proposed developments in the Rockhampton region, which focuses on the needs of the growing community and includes projects ranging from guest worker accommodation sites to townhouse developments, was a major factor in their decision to partner with the resource company.

“Astra has a portfolio of 10 separate developments in central Queensland which will eventually provide 3,000 homes and several commercial opportunities to service the burgeoning needs of the regions mining industry,” Mr Gorman says.

“The company now owns 5,000 hectares of debt free land with either DA or BA approvals pending or in place, so our offering of facility concept design, feasibility studies, financing, consulting engagement, property due diligence, construction experience and facilities management will work well with their developments.

“We will also work in conjunction with sub-contractors in areas such as market research, detailed construction design, construction works, authority’s applications and approvals, and marketing.”

Janayen is primarily owned by Al Aoun Capital, an investment and finance company based out of Jordon.

For further information about Janayen Capital Group visit www.janayen.com.

Contact Profile

Bruce Nelson

P: 0402 823 343
W: www.astramining.com/

Bruce Nelson

W: www.janayen.com/

Keywords

Workers accommodation, Janayen Capital, Mining, Breff Gorman, Bowen Basin Queensland, Astra Resources, Dubai based workers

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