Paul Nicolaou has called for urgent progress on the long-delayed Barangaroo Central project, warning ongoing inaction risks damaging confidence in New South Wales’ ability to deliver major developments.
The prime Sydney Harbour site, located between Barangaroo Metro station and Crown Sydney, remains largely vacant despite years of promises to transform the area into a multibillion-dollar commercial, residential and hospitality precinct.
Shanghai-based developer Aqualand has proposed a major redevelopment featuring apartments, retail, restaurants, bars, a hotel and new public spaces, with the NSW Government approving modifications to the concept plans in early 2025 after years of delays and planning disputes.
However, more than a year later, a State Significant Development application required to begin the next stage of construction has still not been lodged.
Nicolaou said the continued delays were becoming increasingly concerning for Sydney’s business community.
“Business Sydney has for years called for action to expedite the Barangaroo Central development,” Nicolaou said.
“It’s the remaining piece of the puzzle to complete the Barangaroo precinct in a way that enhances Sydney as a global city.”
He described Aqualand’s proposal as an “attractive multifaceted plan” that would bring greater vibrancy and investment to the harbour foreshore.
“It’s time to move beyond process and into delivery,” Nicolaou said.
The Business Sydney executive director added that the project had the potential to unlock jobs, economic activity and improved connectivity for the city.
“We need to see clear leadership, streamlined approvals and a firm commitment to getting this critical final stage underway,” he said.
The broader Barangaroo redevelopment has long been viewed as one of Sydney’s most significant urban renewal projects, though parts of the final stage have faced ongoing scrutiny, planning battles and community debate.
Planning Minister Paul Scully said he would like to see construction progress as soon as possible, but noted the next steps now sit with the developer.
Aqualand says it is continuing work to satisfy planning conditions and undertake further design and approval processes, with the first stage of the development currently not expected to be completed until around 2030.
