Gold Coast development: $14 billion worth of construction and development planned
New data has revealed more than $14 billion worth of projects in the pipeline for the Gold Coast, with thousands of construction jobs up for grabs. See our list of the top projects.
Gold Coast
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MORE than $14 billion of projects are in the pipeline for the Gold Coast, according to new data revealed by a peak construction body.
Construction Skills Queensland (CSQ) says the latest analysis of projects across the city show there are several major projects under construction, with more on the cards.
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Confidence in the city’s building industry remains strong in defiance of a national slowdown and tough economic times.
CSQ boss Brett Schimming said the development sector was expected to remain strong in the coming years.
“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,” he said.
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“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 workers, including carpenters, electricians and plumbers.”
The CSQ list of the top five major construction projects nearing completion, underway 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 later this year on the residential towers of its $1.3 billion Clear Island Waters retail and residential precinct The Lakes.
Construction is also well underway on the developer’s $250 million luxury tower on Hedges Ave while it is also planning a boutique tower in Labrador on the former KFC site.
City planning boss Cr Cameron Caldwell welcomed the data, which he said reflected confidence in the Gold Coast’s economy.
“This data underlines the importance of the construction industry to the Gold Coast economy,” he said.
“This industry provides thousands of jobs for Gold Coasters and it is important to see the pipeline of work continue.
“The investment sentiment in the city is strong and that is reflected in these numbers.”
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The Star is also progressing with its $2 billion masterplan.
Earlier this month, the Bulletin 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.
The new towers will add to the original Star Grand hotel and casino and The Darling suite tower which was completed in March last year.
Construction has already begun on the $450 million Dorsett hotel tower.
The top five major construction projects committed or underway in the Gold Coast
1: Jewel Surfers Paradise ($1 billion) - Nearly complete
2: Gainsborough Greens ($600 million) - Underway
3: Gold Coast Airport Southern Terminal ($300 million) - Beginning later this year
4: Arundel Springs - Masterplan ($300 million) - $300,000,000
5: Home of the Arts (HOTA) Precinct - Masterplan ($280 million) - Underway
Source: CSQ
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