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About Melbourne
Economic Development
Victoria (Melbourne is the capital of the State of Victoria) is entering the 21st Century with one of the
highest rates of economic growth of the Australian states. There is now a climate for
capital growth with rising land prices. Land prices are expected to continue to
rise as competition for sites intensifies.
The pro business government has attracted a number of national
and international companies to relocate or establish offices in Melbourne. Companies have found Melbourne's
standard of living, pleasant climate, low costs and superior working conditions important considerations when
choosing where to invest. Melbourne is quickly establishing itself as an Asian-Pacific centre for multimedia
and new technologies. A number of high technology companies are establishing
their Asia Pacific headquarters in Melbourne.
Melbourne is currently undergoing a construction boom. Several large scale State Government funded projects
combined with a new wave of private projects are changing the face of Melbourne. See table below for more information:
|
 |
Completed |
Approx.
Cost: |
Status
(as at Oct 02) |
 |
|
|
|
| The
Crown Casino, Hotel & Entertainment Centre |
$2.3
billion |
completed
May 1997 |
| Albert
Park redevelopment of parkland & sports facilities
|
$48
million |
completed
Mar 1996 |
| The
new Exhibition Centre (Australia's largest) |
$129
million |
completed
Feb 1996 |
| Regent
Theatre Reopening |
$37
million |
completed
Aug 1996 |
| Albert
Park Indoor Sports and Aquatic Centre |
$65
million |
completed
July 1997 |
| Immigration
Museum |
$12
million |
completed
Nov 1998 |
| Burnley
Tunnel & The City Link network of freeways,
tunnels and bridges |
$3.7
billion |
completed
Sept 1999 - Dec 00 |
| State
Library (Stage 1) |
$80
million |
completed
1999 |
| Docklands
Stadium |
$430
million |
completed
March 2000 |
| The
new Museum of Victoria |
$296
million |
completed
Oct 2000 |
| Vodafone
Arena incl, Velodrome |
$65
million |
completed
Oct 2000 |
| Central
Equity residential projects |
$1.7
billion |
completed
during the 90's |
| Federation
Square (3 hectare civic square & indoor garden) |
$338
million |
completed
Oct 2002 |
| County
Court Complex/ Melbourne Law Courts |
$140
million |
completed
June 2002 |
| Birrarung
Marr Park |
$15
million |
completed
Feb 2002 |
|
|
|
| |
Under
Consruction |
Approx.
Cost: |
Status
(as at Oct 02) |
|
|
|
|
| Central
Equity residential projects |
$500
million plus |
various
completion dates |
| Flinders
Street Station upgrade |
$24
million |
completion
Dec 2001 |
| National
gallery Redevelopment and Extension |
$140
million |
completion
2003 |
| Princess
Highway Upgrade Melb-Geelong |
$270
million |
completion
2002 |
Melbourne
Cricket Ground
New Northern stand |
$400
million |
completion
2005 |
| Docklands
(world's largest waterfront urban renewal project
- 10 yr project) |
$6
billion |
ongoing |
|
|
|
| |
Proposed
Approx |
Approx.
Cost: |
Status
(as at Oct 02) |
|
|
|
|
| Docklands
Movie Studios |
$40
million |
proposed |
| Victoria
Market Redevelopment |
$240
million |
proposed |
| Spencer
Street Station Redevelopment |
$300
million |
proposed |
| State
Library (Stage 2) |
$200
million |
completion
2004 |
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Melbourne is famous for its established sporting and cultural festivals such as: The Australian Tennis Open, The Melbourne International Festival, The Moomba Cultural Festival, The Melbourne Cup Racing Carnival, The AFL Grand Final Carnival and the Australian Masters Golf Championship.
In recent years Melbourne has gained several new events including: The Australian Formula One Grand Prix, The 500cc Motorcycle Grand Prix, The International Flower and Garden Show and The International Air Show.
In 1999 Melbourne hosted the
President's Cup Golf tournament (the only time it has been held
outside the United States) and held the Final of the Athletics Grand
Prix Circuit in 2001.
Melbourne will also host the 2006 Commonwealth Games.
These events create great exposure for Melbourne around the world and also are attracting hundreds of thousands of tourists every year.
1. Save thousands
of dollars Stamp
Duty (a government tax). Only available in Victoria on only
available on brand new properties bought off the plan.
2. Accelerated depreciation and taxation benefits.
3. Attractive mortgage finance rates are available form major
banks from under 7% p.a. (to approved purchasers).
Click here
for more information on Central Equity's Investment Program
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Several
billion dollars is being spent on developing Melbourne's
Southbank
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About
Central Equity