Markets in a ‘sound’ state despite shift: PIPA
The winds of change are sweeping through the country’s real estate market, but for Property Investment Professionals o...
The first light rail network for one state was launched this weekend, with almost $16 million committed to the project.
The first stage is projected to undergo construction in 2016.
The new system, named Metro Area Express (MAX), was launched by transport minister Troy Buswell and premier Colin Barnett, as the “centerpiece” of the state’s new public transport system.
“MAX will power Perth commuters into the future, helping to reduce congestion into the city from our inner north and manage population growth as the city expands to as many as 2.7 million people by 2031,” said Mr Barnett.
“The launch of this project is a major milestone for Perth and will be an important part of this city’s transformation during a period of strong economic and population growth.”
The first phase is planned to be operational by 2018.
“Light rail has been assessed as the most suitable option in these areas. It can move many more people in one lane than any number of buses and cars,” said Mr Buswell.