Private and public sector spending in Brisbane’s infrastructure is one of the key attractions for international investors, according to investment solutions company Ausin Group. Billions of dollars’ worth of new infrastructure projects have recently been completed or will be starting soon in Brisbane spanning North East from the CBD through to the Trade Coast precinct.
Joseph Zaja, Managing Director for Ausin Group comments, “Ausin first started witnessing a growing interest in Brisbane from overseas investors following the G20 Summit which was held last year. It positioned Brisbane as a ‘new world city’. This vision is now starting to come to fruition following announcements by the State government and private sector about major infrastructure and development projects.
“Brisbane’s two most important economic and employment hubs, the CBD and Trade Coast region are benefiting from the new infrastructure plans. The economic potential of these two areas is being unlocked with State and Federal governments’ as well as the private sector reaping significant financial rewards.” He added, “Ausin opened an office in Brisbane a few months ago to meet demand from its international investors for premium Brisbane property and expects to double its staff numbers prior to Christmas to service this interest. Brisbane’s affordable properties, clean lifestyle and infrastructure spend in major locations are the biggest drivers for international property investors. “Investors are purchasing apartments throughout the CBD and CBD fringe, as well as house and land packages in well located masterplanned communities in the middle ring suburbs. Sunnybank is home to the biggest Chinese migrant population in the state. Areas neighbouring this suburb are benefiting from the growing migrant population.”
The Lord Mayor Graham Quirk will officially open Ausin Group’s new Brisbane office this week. He said successfully hosting the G20 last year had raised Brisbane’s profile in the international marketplace as a place in the Asia Pacific to do business. “In 2014-15, Brisbane received one million annual international visitors for the first time ever, with expenditure reaching a record high of $1.8 billion,” Cr Quirk said. “We are the largest municipal council in Australia and are focused on export and trade to grow our local economy, as well as investment attraction and a commitment to key industries as drivers of growth. “Brisbane is an enterprising and energised city that is firmly connected to global markets, yet remains economically resilient. We are committed to the growth of small business, including start-up companies and embrace an entrepreneurial culture.”
Cr Quirk said he was committed to supporting economic growth by investing in key infrastructure across the city’s suburbs including the recently opened $1.5 billion Legacy Way tunnel which was delivering travel time savings. “There is no denying the delivery of key infrastructure such as the Clem7, Go Between Bridge, Airport Link and now Legacy Way is helping manage our city’s growth and improve travel times for motorists,”
Cr Quirk said. “The Kingsford Smith Drive upgrade is Brisbane’s next major project that will widen the road from four to six lanes and the new contractor for the project which connects the city to the Trade Coast will begin preliminary works later this year.”
Mr Zaja said that as the greater CBD expands out through Fortitude Valley and Newstead, suburbs including Albion and Hamilton are now on the radar of international investors. The duplication of Brisbane airport is expected to increase the size of the airport in line with Hong Kong and Singapore with completion expected in 2020. Two of the State government’s priority development areas have also been given approval to move forward with multi-billion dollar projects including Queens Wharf in the CBD which is touted to create over 3,000 jobs during construction and 8,000 jobs when completed. Hamilton North Shore, which is a two kilometre project along the waterfront near Trade Coast will also generate thousands of jobs and homes for the expanding Brisbane population.
Mr Zaja concluded, “Brisbane is a city that has a vision which is being embraced by business, government bodies and international investors. The city is governed by one Council which has the power to make all of the important decisions regarding the growth of the region. “Its ability to make quick, informed decisions has helped make the city more investor friendly and geared towards long term investment opportunities. Unlocking the economic potential of Brisbane is attractive to international investors.”