I will say it again, the gov has just blocked the commercial property stimulus package here in Australia. This extract from GMG,
GMG has three inter-linked businesses, each based on industrial, warehouse and business park property, being ownership, development and management, with assets in Australia, New Zealand, Europe and Asia, having over 390 properties and over 1,100 employees
With more global trouble on the way, and now the Australian government blocking a critical package that would help this market/GMG I think GMG is all down hill at the moment.
The banking syndicate will see this and be worried because it means more commercial properties are going to go under. This is nothing to do with down ramping. This is a government policy that has been blocked and spells big trouble for the commercial property market.
GMG Price at posting:
35.0¢ Sentiment: Sell Disclosure: Held
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