‘Got to start planning’: Cbus Property boss Adrian Pozzo warns Queensland Government to get an Olympic move on

Cbus Property CEO Adrian Pozzo has told the state government to get a move on if it wants to deliver major infrastructure in time for the 2032 Olympic Games.

Renders of the Gabba Stadium ahead of the Brisbane 2032 Olympic and Paralympic Games. Source: Queensland Government

Construction boss Adrian Pozzo has warned the Queensland Government to get a start on Olympic Games infrastructure if it wants to be ready for 2032.

Cbus Property chief executive Mr Pozzo said politicians must not keep announcing projects and make decisions on key works, such as the centrepiece Gabba stadium, sooner rather than later.

“Queensland’s got an Olympics in eight years,” he said at the Queensland Property Council’s annual outlook lunch.

“It was 11 or 12 years away when it was announced and what has happened since? Not much. You guys have got to start planning because 2032 is not far away.”

“If you’re going to build a stadium, it’s not going to take three or four years. It is going to take six to eight. We’ve only got a certain amount of resources, be it labour, be it resources, be it time. We have all just got together and plan ahead.”

He said the state government must reflect on the delivery of the 2018 Gold Coast Commonwealth Games, when major venues were hastily completed immediately before the two week international event.

Cbus CEO Adrian Pozzo: Picture: John Gass

Queensland Premier Steven Miles has withdrawn his enthusiastic support of the controversial rebuild of the Gabba stadium, appointing former Brisbane Lord mayor Graham Quirk last month to undertake a 60-day independent review of promised infrastructure projects. On Tuesday, Mr Miles distanced himself further from the $2.7bn rebuild, floating the idea on Tuesday of hosting the Games’ centrepiece events at the Gold Coast’s Carrara Stadium.

Mr Pozzo said the state government must prioritise its commitments to free up the construction industry for more important jobs.

“If you look along the eastern seaboard at the moment, we’ve got infrastructure projects everywhere … I suggest that most infrastructure projects being done around Australia are delayed, late,” he said.

“Every state government needs to get together and work out what is really necessary.”

Analysis by CoreLogic shows construction times are continuing to expand past long-term averages as costs pressures continue to put strain on the industry.

“It’s hard to deliver stock to the marketplace with a decent profitability margin associated with it,” Mr Lawless said.

“With those cost side pressures still very much evident, I’d be very surprised to see time frames to deliver stock starting to come down.”

Cbus Property, backed by Cbus Super, which is in turn headed by ALP president Wayne Swan, has experience with delays. The firm’s recently completed $400m luxury tower 443 Queen in the heart of Brisbane took more than nine years to complete due to builder and subcontractor collapses, technical issues and Covid-19 restrictions.

Private developers in southeast Queensland have complained they are facing stronger competition for builders from the state government than each other.