The Gold Coast building industry is experiencing a mix of development activity and challenges. Key news includes the launch of the La Mer development on Main Beach, a $140 million project with 22 three-bedroom apartments and a two-story penthouse. A significant development proposed by DJ Fisher in Palm Beach, known as “Pescado,” is also underway, a luxury high-rise apartment complex with prices starting at $5.25 million. Additionally, the $300 million REMI Residences project has reached its pinnacle with a three-level sky home.
Specific Developments:
- La Mer, Main Beach: A $140 million, 27-storey development with 22 three-bedroom apartments and a two-story penthouse, expected to be completed in late 2026.
- Pescado, Palm Beach: A luxury high-rise apartment complex developed by DJ Fisher, with prices starting at $5.25 million.
- REMI Residences: A $300 million project featuring a three-level sky home.
Industry Trends & Challenges:
- Housing Shortage:The Gold Coast is facing a housing shortage, raising concerns about meeting the state’s target of 50,000 new homes per year.
- Construction Reform:Efforts are underway to streamline the building industry and reduce red tape to boost productivity and meet housing demands.
- Building Industry Fairness Act:The rollout of the Building Industry Fairness Act was delayed indefinitely to allow for more time for industry education and a reduction of red tape for smaller contractors.
- Work Health and Safety:WorkSafe Queensland is conducting concrete placing boom (CPB) audits as part of a broader push to ensure safe construction practices.
- Construction Accidents:Unfortunately, there have been incidents like a fatal excavator accident, highlighting the importance of safety on construction sites.
