Sydney is set to add a spate of new development projects to its iconic skyline over the coming years, boosted by a now-$55 billion infrastructure and transport pipeline.
The city’s recovering office market, tightly-held residential market, and new transport infrastructure have remained major drawcards for Sydney developers and REIT’s attempting to tap into the high-rise development boom.
The NSW government has also devoted most of its capital spending towards improved transport to address a number of inefficiencies and growing pains with the state’s population which, prior to the health crisis, was on track to reach more than 9 million by 2027.
The affluent city, which recently saw median house prices lift back above $1m after a sharp downturn, is currently the 29th biggest economy in the world, with its GDP at $461bn after growing by 2.6 percent—accounting for a third of national growth.
From the city-shaping metro to new urban centers circling the under-construction second airport and high-rise commercial, hotel, and residential offerings, the city is primed for new development projects and growth.
https://theurbandeveloper.com/articles/sydney-major-development-projects
Urban Developer, (2021). Top 20 Sydney Development Projects. [online] Available at https://theurbandeveloper.com/articles/sydney-major-development-projects [Accessed 19/04/2021].
