The NSW Minister for Planning and Public Spaces has approved Aqualand’s Modification 9 Concept Proposal for the Central Barangaroo development, marking a significant milestone in Sydney’s urban renewal.
This decision paves the way for the transformation of the five-hectare site into a world-class living and lifestyle precinct, completing the final piece of the Barangaroo puzzle.
The ambitious project will feature a mix of residential, retail, hospitality, and community spaces, alongside a new metro entry and over two hectares of public open space and parkland.
More than 50 new retail destinations will activate the precinct, offering a diverse range of lifestyle, luxury, wellness, and dining options.
A key feature of the development will be a 270-metre long, eight-metre-wide boulevard connecting Hickson Park to Nawi Cove.
Together with Harbour Park, public open spaces and parkland will comprise more than 50 per cent of Central Barangaroo, ensuring ample green areas for residents and visitors.
The economic impact of the project is expected to be substantial.
During construction, it will generate $2.26 billion in economic activity and create 12,360 jobs.
Once completed, the precinct is projected to contribute $134.1 million annually to the economy and provide 581 direct jobs each year.
Aqualand has committed to delivering one of the largest public benefit packages in NSW history, with over $220 million invested in cultural facilities, parkland, public domain, and a second Metro station entry.
Jin Lin, Managing Director of Aqualand, expressed the company’s commitment to the project, stating: “We are honoured to partner with the NSW government to deliver this critical and final piece of the city’s largest urban renewal project.
“We are committed to creating a world-class precinct that will complement the quality of Barangaroo South and Barangaroo Reserve.”
Ian Devereux, Group Head Development at Aqualand, highlighted the extensive stakeholder engagement that has shaped the project: “Over the past eight years, we have listened to and worked with multiple stakeholders to get this precinct right for Sydney.”
With the concept approval secured, Aqualand will now prepare and lodge detailed development applications for the buildings and public domain.
Subject to planning approvals, construction is anticipated to commence in late 2025, with the first stage expected to be completed around 2030.
This approval marks the end of more than a decade of delays and sets in motion the completion of Barangaroo, transforming a once-neglected area into a dynamic cultural, residential, business, and retail hub.
