Australia’s Victoria state in $2 bln land title register deal with pension fund
Australia’s Victoria state has agreed to sell a four-decade concession to run its land and property registries to pension fund First State Super for A$2.86 billion ($2.09 billion), the government said in a statement on Monday.
The deal allows First State Super to levy fees for property ownership registrations in Australia’s fastest growing state for 40 years, while the government plans to spend the proceeds on schools, hospitals and transport projects, the statement said.
This will give “a major boost to our already unprecedented investment in schools, hospitals, road and rail”, Treasurer Tim Pallas said in the statement.
Read more reuters
