New heights for the Gold Coast building sector

GCTC News - Cranes

What is behind the growth which has turned the Gold Coast into Queensland’s economic powerhouse?

Construction jobs and billion dollars’ worth of developments have flooded the Gold Coast this year, seeing the number of cranes more than doubling in a matter of months.

Reports reveal 35 tower cranes are filling the Coast skies for the 2018 Commonwealth Games. These new developments have also created an extra 15,000 jobs in the past 12 months.

With billions of dollars of projects still in the pipeline, major developers and industry authorities expect the boom to last well past the 2018 Commonwealth Games.

“Confidence is very high on the Gold Coast and these positive growth cycles tend to go every seven years but the Coast usually lags behind,” Sunland Group chief executive Soheil Abedian said.

“The Coast follows the Sydney market and that is still strong but it has slowed down a lot.

“We will get another good three years here for sure and maybe even more.”

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Queensland Treasurer Curtis Pitt said figures showed the city was now performing better than any city in Queensland.

“We’re building 17 world-class facilities for the 2018 Commonwealth Games — this is a $320 million investment into sport and community infrastructure that will generate more than 1000 jobs during design and construction, as well as leaving a lasting legacy for the Coast,” he said.

“That’s on top of the 1000 jobs that will be supported during the construction of Stage 2 of Gold Coast Light Rail.

“The $45 million payroll tax rebate we announced at the Budget in July has seen around 200 Gold Coast businesses claim more than $242,000 in rebates, after putting on new apprentices and trainees. Learn more about this development here.

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