Major building projects in NSW: public and private investment equally dominant
With a huge pipeline of public and private investment in NSW, it is hard to turn your head in this State at the moment without seeing a crane.
With so much construction planned (and much already underway), it can be hard enough to keep up with the number of projects, let alone think about sourcing people with the right set of skills to help deliver them.
So in this, my first article for our new Insights page, I wanted to provide a snapshot of what is happening in NSW in both public and private sectors.
Major building projects currently under construction - $34.13 billion
Top 4 by ($)
1. Barangaroo South – total construction cost: $6 billion
Delivered by construction giant Lendlease, the whopping Barangaroo South precinct has 900 apartments, commercial high-rise, retail precincts, restaurant strips and public domain and dwarfs all other NSW contenders.
This project is not far from completion and the next focus in this iconic Sydney CBD revamp will be the 10-year multi-stage Central Barangaroo precinct likely to be delivered by the Grocon (Builder)/Scentre Group/Aqualand consortium. Final approvals are now underway.
2. Sydney Metro Northwest – total construction cost: $3.7 billion
The second largest active project, publicly funded by State and Federal Governments, commenced last year and is slated for completion in 2030.
Consisting of 8 new build and refurbished railway stations, a commuter car park and general structures to facilitate the operational needs of the North West Rail Link, this monster project is delivered jointly by John Holland and CPB “John Holland Dragados”.
3. Crown Sydney Hotel Resort – total construction cost: $1.2 billion
With that price tag, it is no surprise to see the third largest project under construction sits right in the heart of Sydney’s CBD.
Delivered by Lendlease, the resort will consist of a 350 room 6-star hotel, 66 serviced apartments, a casino and restaurants and is set to be 71 stories high. The project is in its infancy and has an estimated completion date in 2020.
4. ‘Air Combat Capability Project’ – total construction cost: $1.5 billion
Project number four may come as rather a surprise in a landscape otherwise dominated by civilian projects.
The 100 percent federal government funded Military Support Systems for Air Combat Facilities includes a combined headquarters for both the 3 and 77 Air Force Squadrons, explosive ordinance facilities, an off-aircraft maintenance facility and two new earth covered bunkers.
The total construction cost covers bases in QLD, NT and WA as well as NSW and it is not yet known what the total spend in NSW will be.
Major building shortlisted tenders soon to be announced:
Top 2 by estimated ($)
1. 50 Bridge Street, Sydney – total estimated cost: $1 billion+
There are three shortlisted tenderers for this massive project in the North of Sydney’s CBD - Bouygues/Hutchies, Lendlease and Multiplex
2. Parramatta Square (stages 4 & 6)
Walker Group’s major development will coincide with the recently completed Parramatta Square with construction scheduled to start in the second quarter of 2017. The estimated completion date is 2020.
There are three shortlisted tenderers for this massive project, including newly formed contractor Roberts Pizzarotti, Built and Multiplex.
Major Building Construction – “Developments Approved” - $64.94 billion
Top 4 by estimated ($)
1. Parramatta Road Urban Transformation Program – total estimated cost $30 billion
The big talk of the town is the urban development project that forms part of the forthcoming Parramatta Road Urban Transformation Program.
The proposed development will consist of 27,000 residential units, large commercial spaces and retail and is set to stretch along Parramatta Road from Broadway and Leichhardt through to Parramatta, Homebush and Sydney Olympic Park. There is no doubt the project will have numerous head contractors across several stages and will be a huge part of Sydney’s history for the next generation!
2. North Eveleigh – total estimated cost: $5 billion
This major mixed-use development at the former Eveleigh Rail Carriage Works Site is set to transform the area with a precinct of apartments, retail, large open community space and commercial buildings.
3. Badgerys Creek Airport – total estimated cost: $3 billion
With construction now locked in for the fourth quarter of this year and completion scheduled for 2025, this much talked about project will be more than just a fly-in fly-out airport.
Advanced and diverse structures catering for new technology as well as big business have been tabled. The project will also house a new passenger terminal for Sydney, restaurants and shopping centres and, unusually for an airport complex, supermarkets.
4. Circular Quay commercial tower – total estimated cost: $1.5 billion
The redevelopment of the famous ferry wharves at Circular Quay has been well publicised. However, the tender that will soon take the spotlight is a
$1.5 billion commercial tower on the site overlooking the iconic harbour.
The project is owned by Lendlease and the current assumption is it will be built by them too.
Sector growth expectations (%)
I look forward to providing you with monthly insights in future from the forefront of our challenging, cutting edge industry. Forthcoming topics already underway include:
- Attracting and retaining NSW’s best and brightest
- Major skill gaps and how to gain peer status
- Current trends in middle management
Sarah Cuzner
Divisional Manager, Recruitment - Strategic Accounts