Tweed sitting on a $9 billion gold mine
THE Tweed shire has a staggering $9 billion worth of works on the go.
A Colliers International report found Tweed had more projects in construction or planned than any Gold Coast precinct.
Colliers International Gold Coast research manager Lynda Campbell said the Tweed continues to impress where investment is concerned.
"Considering that almost $2 billion came out of the development pipeline with the removal of the Salt and Casuarina master-planned communities, $9 billion is still a very impressive figure, as is the number of projects, 58, which is only three less than the number of projects in the pipeline last year," she said.
"Fourteen new projects were added to the development pipeline this year, which has contributed to the strength of the development spend, however the majority of these projects are small-scale residential projects."
Colliers Gold Coast director Stewart Gilchrist said the Tweed's development spend figures were no surprise, because it still has land available for development.
"The Gold Coast, particularly in the central areas, has largely been built out now and there is very little land remaining available for development," he said.
The report found that development had dropped from $11.76 billion last year to $9.131 billion this year.
Leda Development's $2.5 billion Cobaki Lakes and $2.25 billion Kings Forest projects were just two items on the list of almost 60 projects.
Leda spokesman Reg Van Rij said it was inevitable that Tweed would grow, as aging populations demanded additional resources and economic expansion.
"In respect of development and growth we have a rapidly aging population which is becoming evident in a lower number of workers," he said.
"There's a very good reason the Tweed needs economic growth.
"The Tweed shire should have an emphasis on economic growth and achievement or else nothing will be achieved."
Colliers International has been researching development spending across different precincts since 2005.