Sydney’s waterfront business district will undergo a facelift including a new harbour-view esplanade stretching 22 hectares.
The £7 billion reconstruction will also involve major renovations of the Sydney waterfront Convention and Exhibition Centres, aimed at attracting larger and more business events.
The project, for which plans have been approved are expected to herald a new economic era for Australia’s biggest business hub.
City officials are hopeful that the construction project will have lasting, positive effects on Sydney’s economy, although they are shy to put a number on how much that effect really is.
The city’s numerous restaurants, hotels, casinos, and entertainment centres have been told to brace themselves for a potential upsurge of business travellers.
Prospective construction plans include transforming 22 hectares of decommissioned wharfs and industrial space to make way for a harbour-view esplanade running the length of the site.
Asia Pacific Incentives and Meetings Expo will undertake the project.
Business Events Chief Executive Officer Jon Hutchinson, said of the project, “The developments represent a once in 200 year opportunity to transform Sydney’s CBD waterfront precincts for the business travel market and leverage the next phase of Sydney’s economic growth.
“It’s not just the economic impact we are measuring,” he added.
