Foreign giants face off against locals for station developments at Olympic Park and Parramatta
Foreign and local developers are vying for huge over-station projects along the Sydney Metro West line.
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Several listed, offshore and private developers are vying for the huge over-station projects that are up for grabs along the Sydney Metro West line, with the field narrowing for two sites at Sydney Olympic Park and Parramatta.
Five separate consortia have been shortlisted to deliver the station developments at the former Olympic site and in the western hub of Parramatta, defying industry concerns that the precincts would face few bidders in the face of rising construction costs and slow off-the-plan sales.
Sydney Metro has just short-listed three consortia for the more apartment-heavy station and precinct at Sydney Olympic Park.
They are FCC Construction Australia Pty Ltd and Ecove Group Pty Ltd (FCC and Ecove); Gamuda Engineering Pty Ltd, Gamuda (Australia) Pty Ltd and MTR Corporation (Australia) Pty Ltd (Gamuda and MTR); and John Holland Pty Ltd and Freecity Group Holdings Pty Ltd.
Ecove is best known as the developer of the troubled Opal Tower but also has several other towers across the precinct to its name, as well as other high rise blocks in Sydney, while its partner has been building up its name in Australia over the past five years.
Chinese-owned John Holland is part of the joint venture contracted to deliver the final section of tunnelling for the Sydney Metro West project and it is separately working with Mirvac on the over-station development at Waterloo. Its partner, Asian-backed group Freecity, has bought up major apartment sites around Sydney.
Malaysia’s Gamuda Engineering and MTR Corporation, which now runs Sydney’s metro services from a centre in Sydney’s northwest, are also chasing the Parramatta project, where they are up against listed giant Lendlease.
The Olympic Park project comprises the design and construction of the new metro station, the surrounding precinct and two buildings next to the station. It is slated to create more than 300 apartments, and, separately, planning is under way for about 190 more units directly above the station.
The shortlist for the over-station development in Parramatta includes Billbergia as part of the Gamuda/MTR consortia, but it has been reported the local developer is out. The Parramatta hub will include four buildings of up to 38 storeys that have some 100 homes, office spaces, retail and dining.
Originally published as Foreign giants face off against locals for station developments at Olympic Park and Parramatta
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