ACT Executive Director of the Property Council, Adina Cirson, has welcomed the release today of the ACT Governments long term Infrastructure Plan, that is line with the unprecedented growth being experienced in the Canberra region, and clearly articulates what is needed in order to realise the opportunities being created by that growth.
Industry groups have been collectively advocating to the government about the need for a long-term infrastructure plan that clearly outlines how to meet the needs of a not only growing, but changing population, and one that plans for both physical and social infrastructure needed to improve our city for the community.
“Today the ACT Government has for the first time in many years – clearly laid out a long-term plan for future growth, and opportunities for co-investment by the Federal Government. Most importantly, it has committed to identifying opportunity for joint ventures with the private sector to deliver what is needed for the next decade and beyond, Ms Cirson said.
“With Canberra growing by more than 7,000 people every year, and as our importance as the economic hub of the region continues to rise, now is exactly the right time to set forth an ambitious and clear plan for managing that growth. This should not only be about how we sustain the projected population growth – but how, together, we can all realise the opportunities that arise from a transforming city in the heart of the region.
“Setting out a long-term infrastructure plan which identifies key projects, particularly those marked for delivery in the next 5 years, and tied to some $14 billion worth of investment by the government, creates certainty and exactly the right foundation for investment by the private sector.
“The plan comes as expectations about growth and our construction pipeline from the property sector are at historic highs as we continue to outperform almost all other jurisdictions, with the Chief Minister pointing out today that our growth is second only to Victoria – and we expect this trend to continue. “As revealed earlier this month in the ANZ/Property Council Survey expectations are particularly high for forward work schedules, staffing levels, state economic growth, residential, office, retirement, retail and hotel capital growth – which are all out-performing other states.
“There couldn’t be a better time to clearly articulate the opportunity for strategic investment and growth policies, which in turn creates jobs and keeps Canberra punching above its weight. We intend on working very closely with the government to deliver identified projects as soon as possible for the benefit of the whole Canberra Region,” Ms Cirson concluded.