The upcoming 2032 Olympic Games has sparked a new interest in Brisbane’s commercial real estate sector. New developments have been approved in the surrounding suburbs of the Olympic games, including new build-to-rent projects and hotels.

Brisbane is set to host the 2032 Olympic Games, anticipating a substantial influx of visitors, including 10,500-15,000 athletes and 20,000-25,000 officials. With this significant rise in footfall, the city is poised to welcome a surge of tourists, projected to contribute approximately $4.6 billion to local businesses, malls, hotels, and transportation services.

The Star Grand Hotel, located at Queens Wharf is the Star Entertainment Group’s latest venture and a part of a $3.6 billion precinct. This precinct will include a 12,000sqm open air oasis, with a 340 room five star hotel, a casino, 3 swimming pools. The Star Entertainment Group estimates this development will play host to an additional 1.39 million tourists per year to Brisbane. In addition, this project will have 50 new restaurants and bars with some hoisted 100m above the Brisbane River on a 250m rooftop runway.

Woolloongabba, a Brisbane suburb set to host the 2032 Olympic Games is garnering interest in the build-to-rent sector. According to Property Update’s research, Brisbane currently has 1,743 unit build to rent (BTR) projects under construction with an additional 2,567 approved.

JGL has been approved for their BTR build at 33 Jurgens Street. This BTR project will incorporate two towers, ranging from 14 to 20 storeys high. Jurgens Street will feature 433 studio, one, two, and three bedroom apartments. Strategically located just 200 metres from some of the Olympic Games’ key infrastructure, Jurgens Street is close to public transport for commuters, featuring a fitness centre, outdoor pool, gardens and rooftop grass areas.

As Brisbane prepares to host the 2032 Olympic Games, it is proving that it is not just an ideal host for sporting events, but a catalyst for a city on the rise. The race has started for developers to meet the increasing demand for build-to-rent housing, hotels, and commercial spaces. These projects popping up promise to redefine Brisbane’s landscape, whilst creating a sustainable, vibrant city. 

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