Billions of dollars in new building projects a good sign for Sydney's construction industry, analysts say
ABCMajor projects worth billions of dollars in and around Sydney were given the green light last year despite fears for the construction industry. This $500 million Mirvac redevelopment includes a new 50-storey commercial office tower above a 45-metre podium on the corner of Pitt Street and Dalley Street in the Sydney CBD, two blocks from Circular Quay. It would see the demolition of a nine-storey mid-century commercial office building and significant upgrades of the adjacent Ausgrid and Telstra utility buildings to "improve their aesthetics and deliver new retail opportunities". 65-77 Market Street, Sydney A $295.9 million project proposed by Scentre Group and Cbus Property, this development is a 32-storey mixed use residential and commercial tower in the heart of the CBD. The proposed $244.4 million development by Shimao Group Holdings Limited would see the demolition of an existing commercial tower directly south of Hyde Park and the ANZAC War Memorial, to make way for two new residential towers.
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