Fast Track announcement good for jobs and confidence

The Property Council of Australia has welcomed the accelerated approval of more than $1
billion worth of new building and development projects across Victoria, while reiterating the
importance of government and industry collaboration on further economic stimulus, and the
safe reopening of real estate transactions and the CBD.

“These project approvals will support construction jobs and economic activity and provide a
much-needed confidence boost for the Victorian property and construction sector,” said Mike
Zorbas, the Property Council’s Group Executive for Policy.

“Green-lighting shovel ready projects means we can get on with the job of safely building our
economic recovery,” Mr Zorbas said.

Mr Zorbas welcomed the breadth of project approvals, including new residential, commercial,
retail and aged care developments, including a new social housing development.

“These projects tap into a broad range of industry expertise and capability in their delivery,
providing much-needed employment opportunities across the range of occupations that
make up our industry.”

The Property Council welcomes the continued focus of the Building Victoria’s Recovery
Taskforce on fast tracking other projects for at least another 12 months.

The Victorian Government’s COVID-19 roadmap includes the opportunity to scale up
construction activity from the end of this month, meaning that one of the economy’s big
engines could be turning over again in just a matter of weeks.

“We will be looking for further government stimulus and confidence-building measures,
especially in the heavy-lifting property and real estate sectors which drive so much so much
of our economic activity and job creation.

“We must continue to work together on safely opening up the CBD and real estate
transactions to support jobs as the state works its way through this profoundly challenging
economic disruption,” Mr Zorbas said.

Media enquiries: Emily Young | P 0475 161 328 | E [email protected]