The next Brisbane property boom is expected when the Brisbane CBD finishes its expansion. The $3 billion Queens Wharf Project, along with other projects in the CBD, is expected to create a ripple effect in Brisbane.
The projects will deliver over 12 football fields of new development which will create 11,500 jobs in the precinct. Construction started early in 2017 and the Queens Wharf is due for completion in 2022. It will make a great windfall for the government after the economic stall due to the mining downturn.
The Queens Wharf is also set to open five new hotels, including a 6 star W Hotel. There will also be three residential towers and more than 50 restaurants around a massive Skydeck, featuring an outdoor cinema.
The project will also replace the Treasury Casino with the new Brisbane Integrated Resort Development. It is expected to pay millions of dollars in casino taxes alone. 300 George Street will also develop a residential tower with 428 apartments and 39 storeys of office space. A 5-star hotel with a shopping mall and cafes, restaurants and bars will be opened as well.
The projects will transform the Brisbane property market from a sleepy town into an international city which can draw tourists from different parts of the world.
The state government will be able to expand and develop Brisbane, which is great news for property investors. It is a positive five year lead up and everyone is excited to see its completion.
What can you do during this time?
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