Brisbane redefined

With the state’s economy predicted to be worth in excess of $217 billion by 2031, its council’s dynamic infrastructure policy, including a masterplan to create a world-class sports and entertainment venue, this new ‘World City’ is becoming a leading destination for business and investment. It’s a great place to live too!

Brisbane, Queensland, is Australia’s New World City with a $146 billion economy positioned as the closest capital city to Asia on Australia’s eastern seaboard. After English, Mandarin is the most common language spoken, followed by Cantonese. In 2014, Brisbane hosted the G20 Leaders Summit positioning itself as a major player in the Asia Pacific.

Brisbane’s key sectors and segments include mining and resources, information and communication technology, scientific innovation, creative industries, hospitality, higher education, tourism infrastructure, manufacturing, logistics and distribution and aviation.

Infrastructure

According to Urbis Residential Research 2016, “A leading destination for business and investment, Brisbane’s economic growth is fuelled by the largest public infrastructure program in Australia’s history. Brisbane’s economy has rapidly expanded and is predicted to be worth in excess of $217 billion by 2031.”

Brisbane Long Term Infrastructure Plan (BLTIP) 2012-2031 is council’s infrastructure policy for the city. It outlines Brisbane’s proper planning and well thought out infrastructure strategies which encourages strong economic and employment growth delivering services that support the city as a centre for commerce, tourism, education and cultural activity.

Two major infrastructure developments are redefining Brisbane’s Future

Queen’s Wharf Brisbane will now be a $4 billion development completing in 2022. It is where Brisbane started 190 years ago, and is now the place where the history and foundations will be transformed into an expression of Brisbane as a new world city.Queen’s Wharf Brisbane will be the hub that connects the Queen Street Mall, South Bank, Botanic Gardens, Brisbane River and the Cultural and Parliamentary Precinct.

Queen’s Wharf Brisbane will include:

• 9.4ha riverfront site of redeveloped and enhanced public space
• New pedestrian bridge connecting to South Bank
• Iconic signature “Arc” building, a Sky Deck, with restaurants and bars
• 5 premium hotel brands—including the Ritz Carlton and Brisbane’s first 6-star hotel
• 3 luxury and modern residential towers
• Prestigious department store with around 50 new restaurants, cafes and bars
• A guarantee of $880 million in casino taxes for the first ten years of operations
• $1.69 billion annual increase in tourism and 1.39 million additional tourists per annum

Brisbane Live is a $2 billion arena and entertainment centre in the heart of Brisbane and when completed will cover around 20 hectares.  It is located on top of Queensland’s largest rail interchange hub (Roma St) which will transform into a world-class sports and entertainment venue. The positioning above the station and its proximity to the CBD and Spring Hill has the added benefit of attracting Brisbane and the whole of South East Queensland, a population catchment of well over 3.4 million.

Brisbane Live’s masterplan, which belongs to AEG-Ogden,the world’s largest entertainment venue operator with a network of over 100 arenas, stadiums, convention and exhibition centres, revealed the $450 million arena will also include a 4,000-capacity rock club and be surrounded by multiplex cinemas, restaurants and bars, and a giant screen and amphitheatre catering for around 15,000 people. Similar to Madison Square Garden in New York City, the new precinct complex would attract private investment in hotels, residential apartments, restaurants, shops, offices and an education and research facility.

The long term master plan includes:

• Bringing 10,000 new jobs to the precinct
• Up to 4,000 new dwellings including a proposed signature 90 storey residential tower
• New commercial towers and hotels with new underground facility
• Creation of a future dining precinct in and around the heritage Roma Street Station
• Future cultural facility and medical facility buildings planned

Economy and employment

The Queensland economy and employment has steadily demonstrated above-average growth, an average annual growth rate of 4 per cent gross state product in 2016-17, 2.5 per cent above the Australian average (Source: Australia Government Budget 2016-17: Queensland Government 2016-17 Budget).

The city’s $146 billion economy (Source: Brisbane City Council—Key Economics Fact 2016) is predicted to grow to more than $217 billion by 2031, having been a key driver of the Australian economy as it enters its 26th year of continuous growth (Source: Austrade 2017).

The Urbis Residential Research 2016 states that “with a diversified and sustainable economy, Brisbane provides opportunities to drive future employment with an expected increase of 500,000 new jobs by 2031”.

Population

According to McCrindle Research, published in 2015—in 2004, Brisbane’s population was at 949,935 and in 2036 that number is expected to hit 1,400,000 and Greater Brisbane will explode to 3,300,000. The report states that immigration is also changing Brisbane, more than a quarter (28.3 per cent) of the population of Brisbane’s residents are immigrants.

Brisbane is a thriving multicultural hub with a population of 2.2 million, making it the third-largest city in Australia. It also has the largest population growth rate of any capital city in Australia. An inner-city population density less than Sydney and Melbourne keeps accommodation affordable around the city’s major education precincts and provides students and residents with plenty of open space to enjoy. Brisbane has more sunny days per year than any other Australian capital city. Temperatures remaining fairly stable across most seasons, and the sub-tropical climate makes it perfect for a range of outdoor activities, making it a really attractive place to live, work and play for Australians living interstate and International tourists.

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