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DEXUS, Queensland government agree on A$2.1B project in Australia

Real estate investment trust DEXUS and the Queensland government of Australia signed a facilitation agreement for a planned A$2.1 billion business and leisure development at the Eagle Street Pier in Brisbane.

The Waterfront Brisbane project master plan includes two premium office and mixed-use towers on the Eagle Street Pier site, as well as riverfront restaurants, casual dining places and retail unit. The development will also feature a public realm, including roughly 7,900 square meters of open space, according to a Dec. 18 release.

Dexus expects to submit the required code-compliant applications to the Brisbane City Council by mid-2020, with construction on the project to begin in 2022 and the first tower to be delivered in 2026, subject to relevant approvals.