Green light for $5b Central Barangaroo development
By
default
The NSW government has approved Aqualand’s plans to develop the final piece of Sydney’s Barangaroo precinct into a mixed-use lifestyle hub.
The Modification 9 Concept Proposal will transform 5 hectares into residential, retail, hospitality and community spaces alongside a new metro station entry.
The development will generate $2.26 billion in economic activity during construction and create 12,360 jobs.
Aqualand Managing Director Jin Lin said the company recognised Barangaroo’s significance to Sydney.
“We know how important Barangaroo is to all of Sydney and we are honoured to partner with the NSW Government to deliver this critical and final piece of the city’s largest urban renewal project,” Mr Lin said.
The project will include more than 50 retail destinations across lifestyle, luxury, wellness and dining sectors.
More than half the site will be dedicated to public spaces and parkland, including a 270-metre boulevard connecting Hickson Park to Nawi Cove.
==
==
Aqualand Group Head Development Ian Devereux said extensive consultation had shaped the plans.
“Over the past 8 years, we have listened to and worked with multiple stakeholders to get this precinct right for Sydney,” Mr Devereux said.
Infrastructure NSW Chief Executive Tom Gellibrand welcomed the approval.
“Barangaroo is one of Sydney’s most significant renewal projects in decades, transforming a once neglected and inaccessible part of the city into a dynamic cultural, residential, business and retail hub,” Mr Gellibrand said.
The development will deliver over $220 million in public benefits including cultural facilities, parkland and a second Metro station entry.
Construction is expected to begin in late 2025, with the first stage completed around 2030.
The precinct will feature buildings up to 10 storeys high, with most reaching eight storeys, comprising 75,000 square metres of residential space and nearly 15,000 square metres of retail.
Once completed, the development is forecast to generate $134.1 million in annual economic activity and provide 581 permanent jobs.