Economy
Australia is Set for a Tsunami of Road and Rail Projects
April 6, 2021
BIS Oxford Economics latest forecasts shows that the expected overall dollar value for construction work done on civil and engineering projects will surge from $88.7 billion in 2019/20 to almost $120 billion by 2022/23. The rebound is said to be driven by unprecedented levels of spending on road and rail infrastructure. The BIS expects activity on transport infrastructure to increase from $30.7 billion in 2019/20 to reach a peak of almost $50 billion by 2022/23. BIS Oxford Economics Principal Economist Nicholas Fearnley stated that the boom in transport construction which is expected to take place over coming years will differ …
Perth Build-to-Rent Tower Gets Nod
March 31, 2021
Sentinel Real Estate has secured approval for its third project in Perth. The project, to be built on the corner West Coast Highway and Manning Street will comprise 175 apartments in a mix of sizes atop a three-storey mixed mixed-use podium. The 21-storey build-to-rent project will be developed and leased by Sentinel and will feature four commercial tenancies, 230 bike parking bays, 215 car parking spaces and end of trip facilities for commercial tenants. The first stage of the three-stage development, known as Element 27, has been in operation and tenanted since early 2019. The second stage is under construction …
Fini, Goh Submit Skyscraper Plans at Elizabeth Quay
March 23, 2021
Perth property doyen Adrian Fini and Malaysian Victor Goh have lodged plans for a 54-storey mixed-use tower to add to Perth’s skyline as part of the Elizabeth Quay redevelopment. The Metropolitan Redevelopment Authority approved CA and Associates’ $85-million bid for the 4486sq m parcel of land in 2017. The consortium have now lodged plans to develop Lot 4 at Elizabeth Quay. The proposed development is expected to have a strong architectural identity and provide a sophisticated corporate and community environment, which will provide a valuable contribution to the amenity of the Elizabeth Quay precinct and the Perth skyline. Plans for …
Mark McGowan’s government has been granted a second term, but what will they do with it?
March 16, 2021
With the re-election of Premier Mark McGowan for a second term, the Treasury Department is expecting to see an increase of WA’s net debt to $3.1 billion. The Premier and WA’s Labor has promised several projects to launch during his term. This includes the $361 million dollar health package and a $355 million program to build and upgrade school infrastructure. The mental health project is expected to build 2 specialised emergency centres, in Rockingham and Armadale, an expansion of WA’s eating disorder treatment programs and initiatives to support the mental health of young people. A further $79 million will go …
WA economy named best in the world by S&P credit rating agency
March 10, 2021
It’s music to Western Australian Premier Mark McGowan’s ears as the state is praised for having the best economy in the entire world. Global credit rating agency S&P deemed WA’s economy the best in the world over the past 12 months, outsmarting North Rhine Westphalia in Germany which came second place and Queensland which was the next-best state in Australia. WA Premier Mark McGowan is beaming as his state is championed as the best economy in the world, this comes just days before locals in WA head to the polls on Saturday to cast their vote in the state election, which …
WA Labor launches election campaign with pledge to create 125,000 jobs
February 23, 2021
Western Australia’s Labor party has promised to create 125,000 new local jobs if it is re-elected for a second term of government on March 13. Premier Mark McGowan made the commitment during the party’s election campaign launch, telling supporters it would build on the 63,000 jobs Labor had created in its first term. Mr McGowan said the jobs would be created by 2025-26, saying the target was “reasonable, achievable and affordable”. Ahead of the 2017 state election, Labor promised to fix WA’s “unemployment crisis” and create 50,000 new jobs, saying it would get there by diversifying the economy and bringing …
WA surplus pumped up by iron ore
February 9, 2021
Booming iron ore prices driven by Chinese demand will swell Western Australia’s budget coffers by $2.3 billion over the next four years, pointing to a likely federal government windfall that would speed up budget repair and drive down record debt faster than anticipated. Figures released by WA’s Department of Treasury on Monday show popular state Premier Mark McGowan will head to the polls on March 13 with a budget surplus of $3.1 billion this year, nearly $1 billion more than a forecast made in December. It leaves Mr McGowan as one of few cashed-up leaders on the planet. The windfall …
Joint media statement – Contract awarded for road gateway in Perth’s Eastern Suburbs
February 4, 2021
The Greater Connect consortium comprising Laing O’Rourke, AECOM, and Arcadis has been awarded the contract to deliver the Great Eastern Highway Bypass Interchanges project. The project is expected to bust congestion and improve safety for traffic across the Hazelmere and Forrestfield industrial and freight distribution centres. The Morrison Government is allocating $247.25 million funding from its $110 billion, ten year infrastructure pipeline. Hon Rita Saffioti MLA, said procurement for the upgrades had been streamlined to boost the State’s economic recovery from the COVID-19 pandemic and would support up to 2,700 jobs. This would also help provide critical new connections for …
Joint media statement – Biggest ever South-West road project now underway, unlocking thousands of local jobs
February 1, 2021
Work on the Bunbury Outer Ring Road has kicked off today, which is expected to provide thousands of local jobs and economic benefits for the Greater Bunbury region. The South West Gateway Alliance, comprising Acciona, NRW Contracting, MACA Civil, AECOM and Aurecon, together with Main Roads, will build the 27-kilometre, four-lane, high-standard road from Forrest Highway near Australind to the Bussell Highway, south of Bunbury. According to Deputy Prime Minister Michael McCormack, upon completion the project would improve freight capacity, efficiency and productivity across the region. The project which has gone through planning for several years, recognizes the significance of …
WA jobs market booming as Recovery and Jobs plan delivers
January 25, 2021
Western Australia’s job market is the best performing of all States WA unemployment rate continues to fall, now the lowest of all States at 6.2 per cent 98.8 per cent of jobs lost during COVID-19 pandemic now recovered Latest statistics reflect the McGowan Government’s safe and strong management of COVID-19 and the State’s economy Based on the December 2020 data released by the Australian Bureau of Statistics, it shows that Western Australia has the strongest performing jobs market of all states in the nation. Underemployment has fell to its lowest level since June 2015 down to 7.7 percent with 33,200 …
