According to the latest outlook by the industry association Master Builders, the commercial construction sector in the Far North in Australia will experience a boom this 2017, with projects worth billions of dollars being underway.
The association stated that the growth will be driven by major commercial construction projects, such as hotels, and some residential developments. In its predictions, Master Builders said:
“Outside of Cairns there are also a number of major resource projects that will serve to stimulate the local economy.
“These include the Rio Tinto Amrun mine and port near Weipa, Mt Emerald Wind Farm and the MFS Sugar (electricity) cogeneration project.”
Ron Bannah, regional manager for Master Builders, said that while housing construction saw a huge drop in September last year, there has been a lot of smaller projects happening in the region. And, commercial builders who are working on jobs worth 5-10 million dollars have been very busy.
Generally, Bannah expects a lot of work across the Far North, including huge projects such as hotel developments in the Cairns CBD, redevelopment of the Tradewinds Esplanade, and the construction of GA Group’s twin tower apartment complex.
“People have been waiting for a long time for the cycle to turn and for this part of the world to get busy again with construction. There is a fair bit of optimism not just with Master Builders, but the members themselves,” he said.