Watpac bags One Central Park deal in Sydney

Australian contracting and property development company Watpac Limited has bagged the contract for the US$353 million construction of high-end ‘One Central Park’ residential and retail buildings located in Sydney.

?he project was awarded by Frasers Property Australia.and is said to be the biggest construction contract of its kind to be approved in the city in recent years. One Central Park is slated as an urban village nearby Sydney’s central business district comprising of residential, retail, and commercial facilities. The East tower will have 33 storeys, while the West tower will be 16 storeys high, delivering 623 residential units above a five-level retail and recreation podium.

The development will provide about 700 construction jobs when construction begins until it is finished in 2013. Greg Kempton, Watpac managing director, said in a statement that the company was delighted to be awarded the contract to deliver this unique development, which he said demonstrated the level of confidence Frasers Property Australia has in Watpac’s capability to deliver world-class projects.

“One Central Park will no doubt be a landmark development for Sydney, and we are very pleased to be able to play a part in realising this vision, and to be able to work once again with Frasers Property Australia,” Kempton said.“This project offers our team an opportunity to use their unique skills on a highly technical and challenging project that will not only be a milestone for the people of Sydney, but will also rival other developments of its type both nationally and internationally.”