The Far North of Queensland is looking forward to a surge in commercial construction spending, as a number of major projects are planned for this year…
Sport isn’t the only area where competition is fierce between NSW and Queensland. Rivalry is heating up in the commercial development industry too, it seems.
Last week we focused on upcoming construction opportunities in NSW, with expectations that benefits may spill over state lines.
Now it’s Queensland’s turn to bask in the spotlight, amid news that a boom has been forecast for the Far North.
Builders across the Far North who’ve searched far and wide for suitable work can finally breathe a sigh of relief, since 2017 is off to a strong start, with billions of dollars worth of projects expected to get underway.
Master Builders Australia has released a report which shows that construction has improved over the past 12 months and there should be more growth in the year ahead, thanks largely to major hotel and residential developments.
There are also a number of major resource projects outside of Cairns, which are expected to play a significant role in stimulating the economy. The report identifies some of these as the Rio Tinto Amrun mine and port near Weipa, Mt Emerald Wind Farm and the MFS Sugar cogeneration project.
Hotel developments in the Cairns CBD are widely anticipated. Projects such as the Tradewinds Esplanade redevelopment also have many buzzing in excitement, as it seems the tide is finally turning as the Far North digs its hands into hearty construction projects.
But it seems this success has not stretched to other parts of Queensland, especially regions outside the southeast corner, where commercial construction is not performing strongly.
“The ongoing weakness in private and public sector investment is the biggest issue for non-residential demand and there are few signs of this turning around,” Master Builders said in a statement to
The Cairns Post.
Although FNQ is enjoying a boom in projects for non-residential construction, the rest of the state has some catching up to do.
