NEWS 1 Red tape hindering development of available land Missing infrastructure, planning backlogs, environmental rules and land zoning are hurdles holding back housing supply that must be overcome to deliver the government’s ambitious targets. 2 David Jones owner puts iconic city store on the market The landmark David Jones building in Bourke Street, Melbourne is being sold by South African retailer Woolworths Holdings, ending its costly move into the department store chain. 3 Business invited to join fun and Games The Queensland government must focus on delivering more than a stadium and sports venues if it wants to deliver a true Olympic legacy in Brisbane, the Committee for Brisbane boss says. 4 Families squeezed out of southeast Queensland, says report A new report has found that only 5 per cent of homes in southeast Queensland are affordable to families on a median income. 5 Why Australia will continue to rely on high migration A low migration scenario in Australia would require a complete overhaul of our national business model. This is not likely and looking up to 40 years into the future, the only plausible migration scenario for the nation is a high one.

MARKET MOVERS 50-storey tower to rise above City Tatts Club The tower above Sydney’s City Tattersalls Club is closer to fruition with the $800m hotel and residential tower set to be completed within three years. How drought made data centre a cooling pioneer The harsh Australian environment has put Canberra data centre developer CDC on the map for its innovative approach to cooling while not breaching water restrictions. Big institutions go shopping for centres but bargain sales end Listed groups headed by Dexus, GPT and HMC Capital are leading the charge back into buying large shopping centres. Construction giant’s $437m ASX listing Symal Group will make its $437m ASX debut on Thursday, amid a $1.3bn pipeline of work underpinned by major government infrastructure projects. US capital returns as BGO seals Sydney tower deal Global investment manager BGO has paid about $580m for a Sydney CBD office tower as it bets on the top end of the market.

✣ PRESTIGE PROPERTY ‘Passion project’ takes luxury ocean living to a new level Pharmaceuticals heir Frank Binder is the driving force behind 320m uber-luxury megayacht Ulyssia, which can sail anywhere from up the Amazon to under Sydney Harbour Bridge. Double Bay site to hit new heights The new luxury precinct will sport some of the country’s finest apartments, a boutique hotel and shopping.