4th November, Melbourne, Australia: Increased net migration from New South Wales and South Australia has transformed Victoria into one of the nation’s most desirable regions since 2008.
In addition Victoria is Australia’s fastest growing state by population, adding approximately 97,500 people in the period leading up to March this year with a 1.7% increase from the previous period.
Over the next 20 years, Melbourne is expected to overtake Sydney as Australia’s largest city, a trend which the Victorian government is ensuring with its renewed focus on infrastructure and urban renewal.
In September this year, the Victorian parliament introduced legislation for the creation of Infrastructure Victoria, an independent body which aims to facilitate Victoria’s 30 year infrastructure strategy, assisting the state’s pipeline of major projects.
The legislation proposes to take the short term politics out of infrastructure planning and aid in the progression of infrastructure development over the 9,990 square kilometres covering Greater Melbourne.
Victoria is experiencing a renaissance in urban renewal projects, with multiple developments occurring in some of our state’s most popular areas and landmarks, especially in congruence with the state’s fast growing population.
The E-Gate Urban Redevelopment is a prominent urban renewal plan to develop 20 hectares of underutilised rail yards sites – equivalent in size to five Melbourne CBD blocks. Adjacent to communities in Docklands and West Melbourne, the E-Gate site is expected to generate $3-4 billion worth of investment and create more than 5000 jobs over the next 25 years.
The $338 million Rod Laver Arena Refurbishment will see the 27 year old arena transformed into a state-of-the-art facility, with an outlook to modernise the complex and accommodate for greater and larger events. The project will be delivered over the course of four years, with major construction works commencing in 2016.
The $250 million Queen Victoria Market Precinct Renewal will witness a complete overhaul of the market, with the construction of an underground car park and the installation of a 1.3 hectare park. The upgrade is expected to create 9,000 jobs at the market once complete, with an additional 12,000 jobs in the surrounding areas.
In discussion of these infrastructure options, the 7th Annual Victorian Major Projects Conference will be taking place at the Melbourne Exhibition and Convention Centre for government and private representatives to review prominent projects taking place across the state.
Melbourne is also embracing smart technology as a way of dealing with the increasing pressures of population growth, recently securing financing of up to $30 million to convert existing street lights with smart, energy efficient street lighting. The measures are expected to save the city $1.1 million each year and reduce emissions by 110,000 tonnes over the next decade.
Plan Melbourne Refresh is another initiative by the Victorian government to achieve better governance, planning, regulation and funding options for the state. The action orientated strategy contains over 300 specific actions that are short (2014-2017), medium (2017-2025) or long term (2025-2050) in scope.
The two day conference provides highly valuable networking opportunities where project managers, operators, contractors, consultants and investors can learn about what projects are in the pipeline for Victoria and capitalize on the business opportunities being created.
The 7th Annual Victorian Major Projects Conference is being held on the 19th & 20th of April at the Melbourne Convention and Exhibition Centre.
Source: Expotrade Global News
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