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$370m investment in Sydney CBD

On Jul 09 2012
Tagged as:
  • Commercial Property


Spending across Sydney's CBD will increase to almost $370 million this financial year - ...

Spending across Sydney's CBD will increase to almost $370 million this financial year - boosting vital services and infrastructure investment for the benefit of residents, tourists and businesses.

The City of Sydney announced the enlarged expenditure for 2012-13 last week (July 6) - stimulating and improving the city's key facilities across a multitude of areas, including public infrastructure works and flood mitigation.

Lord mayor Clover Moore said the city's financial commitment to Sydney would include a significant rise in capital works and building management - including maintenance works to commercial property in the CBD.

"Our financial plans have been developed to deliver on the critical services that Sydneysiders want and deserve, while also implementing capital works that constantly improve the city for residents, businesses and visitors," Ms Moore commented.

Included in the multi-million budget is $48 million allocated to waste and recycling services, $53 million on libraries and children's services, $30 million of flood mitigation and public infrastructure works and $41 million on building maintenance and operations - potentially benefiting those with stakes in commercial office property in the area.

"Our financial plans have been developed to deliver on the critical services that Sydneysiders want and deserve, while also implementing capital works that constantly improve the city for residents, businesses and visitors," Ms Moore said.