Homebuyers express interest in Brisbane's RNA Showground project
Hundreds of Queensland house hunters looking to snap up a residential property in the state's capital area have expressed interest in the government's RNA Showground Regeneration project.
With construction on the residential project kicking off this week, the Lend Lease development will accommodate 3,000 people in 340 units once completed.
Lend Lease Australia chief executive Mark Menhinnitt confirmed on October 3 that 140 apartments had already been sold - indicating strong interest in the development from homebuyers.
Mr Menhinnitt said the government's first time buyers scheme had accentuated interest from buyers, which is likely to be enhanced following the RBA's interest rate cut last week.
"What we are officially starting today is the first of the residential homes and that means, by mid-2014, people will be living here at The Green," Mr Menhinnitt said at the first sod turning.
Queensland premier Campbell Newman said the project was not just a boost for the state's property sector, it is also a major boon for the construction industry.
"The regeneration of the RNA showgrounds means that members of the community will be able to not just live here, but to enjoy the new state-of-the-art facilities at the home of the Ekka all year round," Mr Campbell explained.
The $2.9 billion project is one of Brisbane's largest renewal projects since Southbank and will bolster the local employment sector with the creation of more than 15,000 jobs.