The Promising Future of Building & Construction Sector of Sydney

Massive building projects are running all over Sydney and many more projects are in the pipeline. It is Western Sydney that is considered to be the fastest-growing regions in the state. This part is playing an instrumental part in the rapid growth of Australian economy. Residential, commercial and retail construction in New South Wales is experiencing a mammoth growth because of the Government's spending program that is expected to exceed $73 billion by 2020.

Truly it is an astonishing figure that will attract more and more foreign investors in this region. In terms of delivering, financing and developing infrastructure, private players are playing a major role. It is mainly the Chinese and European companies that are heavily involved in investing a huge amount of money on various development projects in Australia. The data supplied by the organization of building and construction management in Sydney is pointing some of the major development projects that are currently taking place in New South Wales.

• North West Rail Link.
• WestConnex (motorway and urban renewal).
• Sydney International Convention and Exhibition Centre.
• NorthConnex motorway.
• Sydney CBD and South East Light Rail.

New South Wales is gradually turning out to be a decadent destination for public-private partnerships (PPPs). The Australian government is encouraging private companies whether Australian or from overseas to get involved in a promising PPPs. The benefits of this model are two-fold, first, government don’t have to invest a large amount of money at the very beginning, second private companies can reap the benefits of sharing profits from a reliable partner that is the Australian government.

In the view of the market experts, this should be the road map every country should follow for the 360-degree development. The forecast for commercial and residential building activity is solid. The primary reason behind this prediction is the enhanced population growth, growing business activities, easier approval process and relatively low interest rates.