Eight cranes for Meriton's Mascot Central

Seemingly focussed on the old proverb "the more the merrier", Harry Triguboff’s Meriton group has a record eight cranes on its mega inner Sydney development site Mascot Central.

Given that the number of cranes to dot a skyline has long been an economic barometer, it seems that Sydney is abundantly healthy.

The crane craze is a result of Meriton’s decision to develop the master planned project as a single venture rather than over stages.

It will have 1000 apartments, 255 serviced apartments, a 3,200 square metre Woolworths and 16 other retailers. There will also be a lap pool, kids pool, a gymnasium and childcare centre.

Above: An artist's impression of Meriton's Mascot Central.

Harry Triguboff said: "We can build all at once here because 60% of the site we will sell; 20% will be serviced apartments; and 20% will be leased residential."

"So we don’t have to find so many buyers at once. We will not depress the market. To do all this, we put up four tower cranes and when necessary, we also have mobile cranes,” said Triguboff.

The site was purchased last year for $100 million from the Goodman Group.

The company was responsible for 0.03% of the nation’s GDP in 2013.

Picture supplied.