2024 has been cited as an extremely good year for the construction industry of Melbourne that was deeply impacted by the pandemic and the regulations imposed by the government to manage the spread of COVID 19. The industry is already booming based on the numerous construction activities that are currently underway in Melbourne.
These projects are including the Melbourne Metro Rail which is the ‘big kahuna’ construction project that’s commencing in 2024 connecting various places areas throughout Melbourne including Victoria Park and Southern Cross Station. Most construction equipment rental companies that offer heavy machines such as cranes and excavators for hire in Melbourne are vying for contracts associated to this project that is expected to enhance public transport in Melbourne.
The Collins Street Precinct is also another big project that starts this year that have the construction sector on their toes after the long break that they were subjected to during the pandemic. According to Joe Serrati, who owns a construction equipment rental company in the Melbourne area, these projects are reviving his business as demand for his excavators for hire has increased 40 % since January.
Donahue Healy who is a construction material supplier also shares the same perspective as Serrati, stating that these projects are indeed timely for the construction sector. The Collins Street project is not only good for the construction industry, but it will also be a project that benefits the Victorian economy as it will include a broad pedestrian walkway that will feature a range of retail outlets, restaurants, and galleries.
Apart from the above mentioned projects, there are also projects that are expected to alter the Melbourne skyline with brand new skyscrapers including the tallest building in Australia. The 300 meters Icon Tower is poised to become a new landmark in Melbourne along with the Collins House and as well as the Vue Tower.
The Royal Children Hospital expansion works which will see a new wing added is also another ‘critical’ infrastructure project that will make significant changes to medical infrastructure of Melbourne. Skyscrapers, Hospitals and Tunnels are not the only focus of the Victorian Government based on the fact that sports fan will be delighted to know that The Melbourne Cricket Ground and Etihad Stadium will be subjected to major upgrade and redeveloped.
These stadiums will also undergo an expansion and will be ‘re-rigged’ with superior technology aimed at providing sports fans a much better experience. Other projects that are in the pipeline that are further expected to boost the construction sector include the major renovations that will be conducted on the State Library of Victoria and the establishment of new parks and public spaces.
Without a shred of doubt these projects that run into the millions and billions of dollars will completely revive the entire construction faction in Melbourne. Based on the feasibility studies that were conducted on these projects, the returns on investments are expected to benefit the Victorian economy for decades to come.