Daily Newsletter

15 April 2024

Daily Newsletter

15 April 2024

WSI Airport and Charter Hall partner for business precinct in Australia 

The 20 hectare mixed-use development will feature up to 40,000m² of warehouse space, ancillary offices, and more.

Upasana Mukherjee April 12 2024

Western Sydney International Airport (WSI) has established a 50/50 joint venture (JV) partnership with Australia’s Charter Hall Group to deliver the first stage of new business precinct. 

The first sod was turned at the site located in Australia. 

The event was attended by WSI CEO Simon Hickey, Federal Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King and Charter Hall Industrial & Logistics CEO Richard Stacker.  

Simon Hickey said: “We’ll be getting on with the job of building the precinct over the coming months, with the first phase of works due for completion by the end of next year – at which point extensive testing of the airport will be underway as we prepare to welcome passengers and airlines in late 2026.” 

Once completed, the 20 hectare mixed-use development will feature up to 40,000m² of warehouse space and ancillary offices. 

It will also have a 150-room hotel designed to accommodate flight crews, a service station, convenience retail including food and beverage outlets, alongside gym and conference facilities. 

The first stage construction will also include the development of internal and external roads, connections to major arterial roads, and comprehensive landscaping.  

The precinct is anticipated to cater to thousands of workers involved in constructing the airport and its connecting infrastructure.  

Later on, it is expected to evolve to accommodate the changing needs of airport customers and the local community. 

Stage one is projected to create approximately 400 jobs during its construction phase.  

An additional 2,000 permanent positions are anticipated once the precinct is fully functional and occupied.  

Richard Stacker said: “We will leverage our cross-sector experience, extensive tenant customer relationships, emphasis on sustainable development and operations and a shared customer focus to deliver a world-class precinct that sets the benchmark for the rest of this transformative project.” 

China Construction Market Overview

GlobalData's latest report offers a comprehensive understanding of project types and construction activities in China. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. Per our estimates, the China construction market is valued at $4.7 trillion in 2023, and is expected to achieve an AAGR of >3% during 2025-2028 supported by investment in energy and infrastructure projects.

China Construction Market Overview

GlobalData's latest report offers a comprehensive understanding of project types and construction activities in China. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. Per our estimates, the China construction market is valued at $4.7 trillion in 2023, and is expected to achieve an AAGR of >3% during 2025-2028 supported by investment in energy and infrastructure projects.

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