REMEMBER WHEN

GOLD COAST BULLETIN Wednesday, May 5, 2004

AN Aboriginal land body with $2 billion to spend eyed off prime land in Surfers Paradise, Broadbeach, Coomera and parts of the Hinterland.

The Indigenous Land Corporation’s strategy shifted from rural to more profitable urban investments after a highly critical report on the organisation

investment structure. As the national indigenous body looked to crank up its property portfolio on the Gold Coast, the local Aborigines had already started the buying spree.

The Kalwun Aboriginal Corporation, a Gold Coast-based indigenous body, was in the market for a $10 million shopping centre and had already accumulated assets, including homes and units, of $20 million.

Its money was derived from native title compensation

payouts and borrowings from the Indigenous Land Corporation and Indigenous Business Australia.

Local Aboriginal tribe, the Kombumerri people, were heavily involved in negotiations for the land buy-up and put a ‘wish list’ of Gold Coast properties to the ILC.

Spokesman Graham Dillon said, while Surfers Paradise, Broadbeach and Coomera were all former traditional tribal areas, the Kombumerri people had a strong interest in the preservation of the Hinterland.