We recently caught up with Mustafa Agha from Sydney Business Chamber to talk about the future of Western Sydney. In our chat, Mustafa spoke about the large scale of infrastructure projects currently under construction or planned.
This is a theme we've been monitoring very closely at Wealthi. Western Sydney is Australia's third largest economy, housing 47% of Sydney's total population (2.12 million) and producing 31% of Sydney's Gross Regional Product ($104 billion). Around 29 NSW electorates, almost a third of the State's total, lie at least partly within Western Sydney.
Key infrastructure projects currently under way include:
Western Sydney Airport: The Australian Government is investing up to $5.3 billion in equity to deliver the airport through a government-owned company, 'Western Sydney Airport'. Thousands of jobs and opportunities for local businesses will be created. The airport is expected to support almost 28,000 direct and indirect jobs by 2031, five years after the airport opens. Thorough environmental assessment has informed measures that will mitigate and manage the effects of the airport's construction and operation on surrounding communities.
Bankstown Metro: Sydney Metro, together with signalling and infrastructure upgrades across the existing network, will increase the capacity of train services across Sydney from about 120 an hour today, to up to 200 services an hour beyond 2024. After the conversion, metro trains from Bankstown will run at least every four minutes in the peak, or 15 trains an hour.
Parramatta Metro: In November 2016, the NSW Government announced the Sydney Metro West project – the city’s next underground railway. Sydney Metro is planning to deliver about 24 kilometres of underground rail between Westmead and the Sydney CBD.
Interested in knowing more about investing in Western Sydney? Why not spend 60 seconds using our online property planner. We'll build a strategy to meet your goals, objectives and budget. Our team will then take this plan and match you with the most suitable investment opportunity.
Some of the talking points are as follows:
What do you do as an Aerotropolis Policy Manager?
What is the grand vision for Sydney 2036?
What are the locations for Population Growth in western Sydney?
Infrastructure - Light Rail, Metro West, Light Fast Boats, Roads
Aerotropolis - What's happening and when
Where the opportunity for real-estate investors?
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