Sydney Football Stadium to cost $100 million over budget

Sydney Football Stadium to cost $100 million over budget
Sydney Football Stadium to cost $100 million over budget

Construction firm John Holland Group have been awarded the $735 million contract to deliver the new Sydney Football Stadium.

The total estimated cost for the new stadium is now $828 million, which includes demolition, contingency and other associated project costs.

It's almost $100 million over the $729 million budget promised. 

Lendlease originally held the contract, however earlier this year they said they could not complete the project in time or on budget.

It is slated for completion in time for the 2022 NRL Grand Final which is always held in October.

Premier Gladys Berejiklian said the Government’s decision to re-tender the construction stage of the project was the right one.

Sydney Football Stadium to cost 0 million over budget

“By going back to the market, we have delivered on our promise to achieve better value for the people of NSW,” Berejiklian said.

“We have also ensured that the new stadium will be the highest quality, strengthening our ability to attract the very best sporting and entertainment events.”

“While the estimated total cost for this build is higher than what we originally anticipated, it is much better value than what we would have achieved had we not gone back to the market,” Ms Berejiklian said. “It is important to deliver the world class stadium we promised to attract the best events to our State.”

Acting Minister for Sport Geoff Lee said John Holland had committed to delivering the new Sydney Football Stadium in time for the 2022 NRL Grand Final.

“We’ll be working closely with the NRL and our other important sporting partners to finalise a schedule of fixtures for the second half of 2022,” Lee said.

“We’ve seen the benefits contemporary stadiums bring, with the opening of Bankwest Stadium in Parramatta, and we are confident our investment in the Sydney Football Stadium will deliver the same long-term benefits to NSW.”

Minister for Planning Rob Stokes confirmed the project had received planning approvals.

“We are getting on with the job of delivering the best sporting and cultural facilities so that we can create the jobs and investment our State needs,” Stokes said.

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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