Insurance Giant’s HQ Building on the Sunshine Coast

Insurance giant Youi recently announced it will build a massive new global headquarters on Queensland’s Sunshine Coast. Take a closer look at the decision and what it means for the local building industry.

What You Need to Know About Youi’s New Headquarters

Youi will move its corporate headquarters from Birtinya to Sippy Downs, a booming Sunshine Coast suburb. The facility, worth an estimated $80 million, will be the largest non-government development in the Queensland region’s history, and one of the largest regional developments in Australia.

What Are the Implications for the Local Commercial Building Industry?

The Master Builders Association believes Youi’s decision to move to the Sunshine Coast will buoy the local commercial construction industry by creating around 700 jobs. Youi representatives have confirmed local contractors will be favoured. “We will try our best to use local labour, local skills, and local contractors to do the job, so that we can push some of that money back into the community,” explained Howard Aron, Youi Group’s chief executive officer.

Will More Companies Follow Suit?

It’s too early to predict whether Youi will drive a local commercial construction trend, but the early signs are positive. In 2014, the Sunshine Coast was named Queensland’s newest hotspot for construction activity in a Master Builders Association of Queensland survey. The region scored 70.3 on an index of builder sentiment in which any score above 50 shows optimism about the short-term future. If your company is considering following in Youi’s footsteps, contact TPM Builders on 1300 733 891. As Queensland-based commercial builders, we have a unique insight into the local building industry. It may be too early to tell whether Youi’s decision to build a new global headquarters on the Sunshine Coast will start a local commercial building trend, but it’s sure to get other companies considering what regional Queensland has to offer. ©Image via Flickr by Chic Urban – Shop Online