Written by Stefan Kostarelis
Core Logic has just released its monthly construction report for March 2017.
Looking at South Australia, Cordell notes that Kangaroo Island has a number of large construction proposals in the pipeline.
The first proposal involves a number of changes to be made to the Kangaroo Island Airport.
These include runway extensions to the airport, adjustments to refuelling facilities and plans to build a new terminal and other infrastructure modifications related to the aviation industry.
The second is a tourist resort to be built on the island’s American River, which has recently received approval.
This project will include a hotel, 10 lodges, 20 cabins and 20 cottages. There will also be a conference centre, restaurants, a bar, a spa and swimming pool and other outdoor activities.
The third is a multi-purpose/multi-user deep-water wharf development that has been proposed for Smith Bay, on the island’s north coast.
The proposed construction is for a hardstand causeway that will extend approximately 200 metres into the sea to a floating pontoon berth.
Meanwhile, Cordell reports that the revitalization of Port Adelaide is continuing.
A new office building is being constructed on Nile Street that will house more than 500 public servants.
It is expected that the building will provide an economic boost to local businesses and create jobs for local workers. In addition, the building will achieve a minimum 5 Green Star and National Australian Built Environment Rating System (NABERS) rating.
The report also mentions that Built Environs was awarded the contract to build stage one of the West Franklin development in Adelaide, which we covered in detail here.
According to Cordell, there are currently 2,105 construction projects in the pipeline in Australia with an estimated total value of $11.45 billion.
Over half of the projects are related to civil engineering and apartments and units, with the other half made up of community, commercial, industrial and mining projects.
In addition, there are 884 projects moving into construction, with an estimated total value of $3.21 billion.
Of those projects, 49% are civil engineering, 8% are commercial, 20% are community, 15% are apartments and units, 6% are industrial and 2% are mining. The media value of each project is as follows:
Civil Engineering $800,000
Apartments and Units $1,200,000
The report was conducted by Core Logic-acquired Cordell, which provides real-time data and business tools for the building and construction industry.