Real Estate Issues in the Far Northern Regions

The demand for energy has led to demands for investment in the Far North regions. The regions are rich in mineral wealth but are characterised by difficult conditions in which to live and work. Exploitable resources are widely scattered with difficulties in accessing them. They are located in areas with fragile ecologies, which are indigenous peoples with their own cultures and traditional economies. Disruption to these by the demands of mineral exploitation or hydro-electricity can have a devastating impact upon these communities. Development has potential benefits but also the risk of harm. Central government and the wider populations of the countries involved also have claims upon the natural resources and may have different perspectives upon the cost-benefit trade off. There are potential conflicts between the populations of these regions and powerful companies seeking to minimise investment risks. These issues are examined through the use of examples from the Russian Federationís Sakha/Yakut Republic, Canada and Alaska. Among factors analysed are the potential of the mineral resources, legislation for regulation by central and local authorities, the readiness of and opportunities for local companies, geological-technological standards for mineral prospecting and extraction, building standards for real estate construction, norms and rules for environment protection, social-economical conditions, and action on long-term programs, state energy and corporationsí fuel strategies. The paper examines different combinations and harmonisation of programs and strategies. These can be correlated with the regional social and economical tasks, and used for the development of efficient real estate infrastructure.