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$21m allocated for Gold Coast 2018 Commonwealth Games

On Sep 12 2012
Tagged as:
  • QLD

More than $20 million has been earmarked for the Gold Coast 2018 Commonwealth Games in this ...

More than $20 million has been earmarked for the Gold Coast 2018 Commonwealth Games in this year's state budget, it was revealed yesterday (September 11).

The $20.9 million cash injection will facilitate essential planning and development for the major sporting event, which is expected to bring significant fiscal benefits to the state's economy.

"This money will be used to progress games planning, including finalisation of the sports program to be contested at the games and planning for sporting venues. Funds are also allocated to finalise planning for the games village development," state minister for tourism, major events, small business and the Commonwealth Games Jann Stuckey said.

With major developments scheduled in the Gold Coast, those looking for a profitable property investment may be attracted to the seaside destination, which will host the games in April, 2018.

In the lead-up to the games, preparation and projects taking place in the region are likely to increase the demand of local real estate.

The Southport Games Village will accommodate 6,500 athletes, and with thousands of local and overseas visitors expected to descend on the Gold Coast for the event, the area may become a commercial property investment hotspot.

Ms Stuckey said the prestigious event would provide employment opportunities across the region, benefiting the construction and tourism sectors.

"It is the largest international sporting event to be held in Australian in the next decade. The Commonwealth Games board and I are determined to deliver value for money, create jobs and support local businesses," she added.