Tourism and transport, boosting Queensland building sector

Tourism and transport projects are helping to keep the Queensland construction industry afloat, according to new research by Deloitte Access Economics.
Tourism may be the saviour of the Queensland commercial construction sector, according to a new report.
Research by Deloitte Access Economics shows the majority of funds for national tourism construction spending is being funnelled into Queensland projects.
Around three quarters of the 20 billion dollar national tourism project pipeline is being devoted to projects in Queensland.
The vast majority of these funds will be pumped into three particular projects: the Aquis resort near Cairns, the Airlie Beach resort, and the Great Keppel Island resort redevelopment. Construction is yet to begin on these major projects, which are still in the planning stage, but they’ve been given the green light.
This is promising news, considering the rest of the Deloitte report is somewhat bleaker.
The value of Queensland engineering projects has dropped 3.3 percent from 182 billion dollars, over the space of a year, leading to Deloitte concluding that the Queensland commercial construction sector has seen better days.
But rest assured, it’s not all doom and gloom for commercial builders in the Sunshine State.
Another saving grace comes in the form of major road and rail projects, which are helpfully filling the investment gap, by accounting for more than a quarter of guaranteed projects.
For example, Fortitude Valley train station is in the running for a 500 million dollar makeover, with proposed construction expected to take place within a year.
Once completed, this massive project will feature a commercial tower, apartment building and retail space. It may even include a cinema and bowling alley, which will no doubt appeal to commuters (more than 15 000 people a day).
The commercial tower will rise to 25 stories, and a second 20-story tower segment will feature a rooftop garden and terrace.
The metro site will get a facelift, granting pedestrian access between Alfred, Constance and Brunswick streets. Natural light will also feature heavily, as a core design principle.