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Developer lured into $500m project by shale boom



An increase in the energy industry is causing a population boom and increase in demand for property in Williston, North Dakota.
This has prompted a Swiss developer to plan a $500m real estate development in the area.
The principals of Stropiq Inc. are currently in the process of luring retailers to the 89-hectare project which is set to break ground during March. The project will include hotel, office, multi-family buildings, along with retail and entertainment facilities.

Investors and Stropiq are working hard to accommodate the boom of energy workers in the oil-rich shale formation area. The average rental for a small apartment is higher in the town that in New York or San Francisco. Along with the housing shortage, retail facilities are limited.

The company has a 93-unit apartment complex in the area, with a July date set for building commencement. The oil boom has contributed to the low 2.6% unemployment rate in North Dakota, which is the lowest in the country. The population in the area has grown by 42% in the past 14 years. Other developers have also been lured into the area.


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TODAY, Philippines:
The grand-scale store of the Swedish furniture giant released as tenant of Mall of Asia in Manila.
Nov 14, 2018, France:
Growing demand for destination shopping underpins McArthurGlen’s €1 billion development pipeline.
Nov 8, 2018, Poland:
One of the last large commercial plots in the city is being built as part of a mixed-use facility.
Nov 6, 2018, USA:
Taubman unveils $500 Million reimagination of iconic Beverly Center Reinventing Retail & Dining in Los Angeles, CA.
Nov 2, 2018, United Kingdom:
The digitally-enhanced playground will provide immersive Hans Christian Andersen play experiences.
Nov 1, 2018, USA:
Retail and dining concepts complement Burlington, DICK's Sporting Goods and Edge Fitness in replacing the former Macy's box.
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