It is over 20years since Mabo decision of the High Court dismissed the terra nullius enacting the 1993 Native Title Act. Today Native Title has been recognised over around 15 per cent of Australia (over 1 million sq. klms.). Hundreds of native title trusts set up managing billions of dollars under management to protect and grow these trust monies. Whilst these trusts are good they unfortunately do not enhance small businesses & employment for Indigenous communities nor pave the way to self-determination. A solution is for Indigenous communities to develop their own land rather than granting their land rights to other parties who in the end profit handsomely by adding value to these lands.
IRED Corporation Pty Ltd (IRED) was therefore created to develop built environments in a sustainable and ecological manner according to indigenous traditions and culture showing respect for our land and at the same time create work opportunities for Indigenous people leading to self-determination.
IRED Corporation Pty Ltd is an Australian Indigenous Company that provides development and construction management to investment and development opportunities. IRED Corporation Pty Ltd is focused on providing a social return to Indigenous people of Australia by way employment and job opportunities. Property development and the construction industry is the largest employment sector compared to other commercial industries and IRED’s policy is that all contracted parties involved in its projects abide to the policy of training and apprenticeship of young indigenous people of Australia.
IRED Corporation is structured as both a Not-For-Profit and a commercial enterprise with “Development & Asset Management Company”. IRED Communities Ltd is being set up as a Not-For-Profit is focused on affordable housing and community infrastructure, whereas IRED Commercial Pty Ltd undertakes land and commercial developments with a focus on a commercial return to its investors. A Foundation is included for education and training for young indigenous people where 10% of profit is contributed by projects undertaken by IRED.