Melbourne: Tens of thousand Construction jobs in limbo

The Australian reported today :

THOUSANDS of Melbourne construction jobs are on the line, with major building projects in and around the CBD under severe threat.

Unions are bracing themselves for steep job losses, estimated by some to be as high as 10,000, as major commercial project and high-rise apartment projects are abandoned or delayed because developers are unable to obtain construction finance in the global credit crunch.

Just some of the Melbourne projects under threat are :

$700 million Bourke Junction development in the Docklands (Cbus)

$850 million Docklands office park at 735 Collins Street (Walker Corp & Kuok Group)

$1 billion Wholesale Fruit and Vegetable Market at Epping (Mirvac)

$800 million Cub site project at Swanston Street (Grocon)

$400 million St Kilda triangle (Citta Property Group/Babcock & Brown)

» Construction jobs are at risk – The Australian, 13th November 2008.