The facilities, which will cost about AU$1bn (£577m) to build are due to open in December 2016. The New South Wales government is partnering with the private sector through the Darling Harbour Live consortium of Lend Lease, Capella, AEG Ogden and Spotless to develop, build, operate and maintain the new facilities and upgrade the public realm. The facilities are being delivered through a Public Private Partnership (PPP) over a 25 year contract. The land will remain owned by the NSW government through Sydney Harbour Foreshore Authority.
The 20ha also includes improvements to the public areas and provision of an extra hectare of open public space.
“The existing convention and exhibition facilities have served Sydney well for more than 25 years but need renewing so we remain competitive both in Australia and the Asia Pacific,” said New South Wales deputy premier Andrew Stoner. “The redevelopment of the entire precinct will contribute substantial direct and indirect economic benefits to Sydney, including 3,700 jobs during construction and ongoing employment for 4,000 people across the precinct,” he said.
Lend Lease is also developing the hotel and a residential/commercial development under two commercial agreements that are separate to the PPP.
The existing convention and exhibition facilities will close in December this year for the three year construction period.