The Queensland Government sees confidence returning to the state’s economy after the news of the partnership between the Springfield Land Corporation and two international investors.
The partnership plans to undertake a $6 billion development consisting of 10,000 apartments as well as retail and commercial space.
[Related article: R&F Properties Commits To Ambitious $6 Billion Springfield Development]
Queensland Premier Annastacia Palaszczuk said more than 1000 jobs are headed for the growing Springfield area as part of the next stage of development.
“I’m told that in the first three years after construction starts early next year, this project will generate 377 jobs directly,” Ms Palaszczuk said.
“It will also lead to a further 709 jobs being indirectly created.
“And in the long term, there will be retail jobs created as this development will create its own demand which will lead to jobs.”
Ms Palaszczuk said the Springfield Rail Line was very important in development of the region.
“To have a transport-orientated-development- you need transport,” the Premier said.
“That’s why the Springfield rail line is so important.”
Ms Palaszczuk said the investment was a sign of confidence in the Queensland economy and proof the Government’s economic plan for Queensland was working.
“Deloitte Access Economics Investment Monitor has confirmed the pipeline of major projects in Queensland is way ahead of New South Wales and Victoria,” Ms Palaszczuk said.
“The Investment Monitor lists $152.2 billion worth of known investment projects in Queensland in the December quarter 2016. New South Wales recorded $132.2 billion and Victoria had just $68.2 billion.”
Guangzhou-based R&F Properties, already has several projects underway in Brisbane, including a 30-storey apartment complex in South Brisbane.
The other partner, Hong Kong-based Etone Investment Development Ltd, is new to Australia, but the company intends to make its Australian headquarters in Springfield, creating a further 30 jobs.
Greater Springfield is one of Australia’s fastest emerging new cities with a current population of approximately 32,000 people, which is expected to grow to 86,000 residents by 2030.