Coast’s $14b building boom

UNDER WAY OR PLANNED Jewel Surfers Paradise

1.

($1 billion): Nearly complete.

2.

($600 million): Under way.

3. southern terminal ($300 million): Start later this year.

4. masterplan ($300 million): Under way.

5. (HOTA) precinct masterplan ($280 million): Under way.

Gainsborough Greens Gold Coast Airport Arundel Springs Home of the Arts

MORE than $14 billion worth of projects are either under way or in the pipeline for the Gold Coast, new data from a peak construction body reveals.

Construction Skills Queensland (CSQ) says confidence in the city’s building industry remains strong in defiance of a national slowdown and tough economic times.

“The data reveals the Gold Coast has nearly 200 major construction projects confirmed for delivery over the next two to three years, with a further 300 potential projects planned but not yet committed,” CSQ boss Brett Schimming said.

“The project pipeline is valued at between $4 billion (committed) and $14.8 billion (committed and potential developments) and is forecast to deliver between 9500 and 27,000 jobs for the region.

“This level of investment represents a fair share of Queensland’s overall major project investment, with the Gold Coast region scoring around average on CSQ’s regional Investment Index.

“With the majority of these projects being residential construction projects, CSQ predicts continued strong demand for a wide range of building trades, including carpenters, electricians and plumbers.”

The CSQ list of the top five major construction projects nearing completion, under way or imminent includes the $1 billion Jewel and Gold Coast Airport expansion.

And there are plenty more on the cards.

Leading developer Sunland will go to market this year on the residential towers of its $1.3 billion Clear Island Waters retail and residential precinct The Lakes.

Construction is also well under way on the developer’s $250 million luxury tower on Hedges Ave, Mermaid Beach, and it is also planning a boutique tower in Labrador on the former KFC site.

The Star is also progressing with its $2 billion masterplan.

City planning boss Cr Cameron Caldwell said the CSQ data reflected confidence in the Gold Coast’s economy.

“This data underlines the importance of the construction industry to the Gold Coast economy,” he said.

The Bulletin this month revealed Star Gold Coast had launched pre-sales of apartments in the fourth building at its Broadbeach island with construction fast-tracked to begin next year. Construction has already begun on the $450 million Dorsett hotel tower.