The proposed $60 billion boost to infrastructure by the state government for the next four years, as outlined in the budget, has been welcomed by the property and development sectors.
The chief executive of the Urban Taskforce, which represents developers, Chris Johnson, said it was "good to see that the NSW government is selling assets like Port Botany, government office buildings and now Newcastle port to fund new infrastructure projects".
Mr Johnson said the allocation of $20.9 million to support the New Planning System was also welcomed. "This is a once-in-a-generation opportunity to rethink and simplify the whole planning system," he said.The NSW managing director and head of industrial at Jones Lang LaSalle, Michael Fenton said the infrastructure program included public transport, roads and maritime services, and supported economic growth.
"The commitment to increasing infrastructure spending is a positive action for the NSW industrial sector, and will have a welcome impact on transport efficiencies and industrial operators," Mr Fenton said.
"The funding of the first stage of the 33-kilometre WestConnex road is a significant development in this year's budget."
Mr Fenton said the infrastructure commitment would complement the expansion at Port Botany, which is catering for long-term trade growth.