Brisbane is off the blocks and on the home stretch to take out the 2032 Olympics, which will create considerable opportunities for the QLD property sector.
The proposal for Brisbane to become a Summer Olympics host city in 2032 has multiple economic and social benefits and the potential to accelerate an era of growth for the Sunshine State. Beyond the estimated economic benefits of US$6.1 billion and the forecast growth of employment in the range of 91,600 jobs, a successful bid would provide a range of opportunities for property investors and developers. Our latest Colliers Radar report identifies some of these opportunities focusing on the following:
- Infrastructure legacy projects
- Opportunities for the state to lift its global investment profile attracting increasing weight of capital
- Urban regeneration projects across South East Queensland with the highest likelihood to transition to construction if the bid is successful
- The estimated growth of base office demand, and
- The impact on the industrial property market.