Next level growth

A COMMONWEALTH Games-inspired wave of development will inject $30 billion into the Gold Coast’s economy in the next decade.

A comprehensive report on the Gold Coast’s economy and future will be released today revealing the scope of the projects, including at least $15 billion in projects, made up of apartments, housing and land developments which are still in the planning stages.

The report, compiled by property consultancy firm Urbis and Ray White Surfers Paradise, reveals:

Nearly $20 billion in housing and apartments projects are either under construction or in the planning stages.

A further $10 billion in public and private infrastructure is either under way or planned.

More than 250 projects are being rolled out across multiple sectors, including the $615 million third stage of the light rail, $500 million Coomera Town Centre and future stages of the $385 million Gold Coast cultural precinct.

Projects completed in the past 12 months account for around 20 per cent of the total figure.

Report author Lynda Campbell said almost $7.3 billion of projects are still in the planning phase.

She said the transportation sector was attracting the most spending – $4.2 billion – followed by tourism ($2.2 billion), which included hotels, motels and theme park features.

“These projects will drive future investment and have lasting effect in and around the areas on which they touch,” Ms Campbell said.

“While $2.4 billion in infrastructure development has been completed in the past 12 months, we still have $3.4 billion worth of projects currently under construction and a further $7.2 billion planned.

“These projects are being delivered across a wide array

Spirit

Surfers Paradise Under construction $1.2 billion of sectors ranging from transport, education and health to retirement, commercial and cultural.

“The data reflects the Gold Coast’s diversifying economy and demonstrates that there is plenty of growth yet to come for the city.”

Ms Campbell said the spending was spread across a variety of fields.

“Other major areas of infrastructure spending include the retail sector with $1.45 billion, retirement villages and

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