Brisbane developer Citimark intends taking its level of faith in the Gold Coast to new heights with ‘world-class’ twin towers, one of them 67 storeys, side by side in Surfers Paradise.
So first up: it’s two towers; with the details being: Stage 1, or Tower One, comprises 48 storeys, with 313 apartments and 375 car spaces. Stage 2, Tower 2, comprises 67 storeys, with 462 apartments and 560 car spaces.
For once there has not been a ‘number’ given as to the actual total development costs, although based on other towers that have been recently announced, we would expect total costs to easily exceed $1 billion.
What Goes into a Skyscraper?
Let’s look at a simplified construction scenario:
- First up, there’s concrete, lots and lots of it, followed by reinforcing steel bars; tons of those as well, and that’s only after a massive hole in he ground has been excavated.
- When the foundation is finished a steel frame must be raised, with the completed structure finished before the before the inside systems can be installed.
- Then there’s pumps and plumbing, air conditioning and electrical systems provide power and communication throughout the building and wires carry electricity to each floor, and elevator’s that run at speeds of up to 500 meters per minute.
Just looking at only this bare bones outline, we can safely assume the participation, and jobs for the following professions:
- Truck, crane, excavator and dumper drivers.
- Specialised steel and building workers.
- Plumbers, electricians, air conditioning installers, lift companies, communication specialists.
- And that’s way before the interior finishing and design specialists start work.
Result: lots of jobs for the Gold Coast region, that will produce spending by these workers, flowing through into aspects of the local economy.
These mega tower projects will produce a demand for workers over and above what is available on the Gold Coast at this time, who will most probably come from Interstate and will need to rent accommodation.
Great for rentals and the investment property market!