Time is Right: Builders Migrate North to Ride Queensland’s Next Boom

Enterprising interstate builders are defying construction’s downturn, eyeing opportunity and growth in Queensland. Versatile Construction recently signed on to Kokoda Property Group’s $1.5-billion Teneriffe Banks , having already started work on PASK’s 18-storey Gold Coast tower Ocean Place . Elsewhere, Roberts Co inked its first Queensland deal, signing on to build Macquarie York’s Sunset Residences in Surfers Paradise, whilst Lords Group was tipped as the builder for the $150-million Crowne Plaza Maroochydore . These Sydney-based builders have built their reputations and pipelines in other states before heading north, and Queensland’s developers are welcoming the influx. Frasers Property Australia development director, Jamisen Rivera said it was positive to see new contractors entering the market. “Over the past five years, builder procurement has been such a challenge within the Brisbane market, which has only been compounded when several contractors have collapsed,” Rivera says. “Having new, experienced entrants in the market that are interested in the residential sector will go a long way in bringing housing to market, particularly when they have an existing skillset and platform in place so they can hit the ground running.” Meet the builders heading to the Sunshine State Versatile Group managing director Fabrizio Perilli says Queensland’s growth potential piqued the Sydney-based group’s interest, as both a developer and a builder. “Historically, the Queensland market has maybe had insufficient capacity to deliver projects from a building perspective,” Perilli says. “I’ve been asked to come to Queensland many times over the many years, but it needed to be when the time was right. And the time is right.” ▲ Versatile Group managing director Fabrizio Perilli. Roberts Co chief executive George Kostas says that Queensland is entering a sustained growth phase driven by population growth, long-term infrastructure investment, and a maturing development pipeline. “The Brisbane 2032 Olympic and Paralympic Games are accelerating investment in transport, urban renewal and social infrastructure, lifting both the scale and sophistication of development across the state,” Kostas says. “For Roberts Co, the timing aligns with our national growth strategy. “Entering Queensland now allows us to contribute meaningfully as the market evolves, rather than responding later when capacity becomes more constrained.” Olympics legacy Queensland, particularly in the south-east, is abuzz with optimism for the long-term legacy that the 2032 Olympics and Paralympics is predicted to bring. And the Games will be more than just a short-term construction spike, Kostas says. “[The Olympics] represent a decade-long, city-shaping program. “That long-term horizon gives builders confidence to invest properly in people, systems and relationships. “This aligns closely with how Roberts Co approaches market entry — with a focus on sustainable growth and legacy rather than short-term opportunity.” Both Roberts Co and Versatile have set up permanent offices and are growing staff numbers in Queensland as a result. ▲ Macquarie York’s Sunset Residences in Surfers Paradise on the Gold Coast. There is even a potential opportunity to become involved in Games infrastructure, a feather in the cap of any builder. “From what we’ve been hearing, involvement [in Games infrastructure development] could present itself just because of the sheer amount of projects that need to be delivered,” Perilli says. “For us, it’s about being ready when it comes.” Regardless of direct Olympics procurement, the new wave of builder entrants to the market will support the mixed-use development required to support the Games, from hotels through to housing and industrial. “We see our role as helping deliver buildings that contribute positively to Brisbane’s urban fabric well beyond the Olympic Games,” Kostas says. “Legacy is not just about what’s built — it’s about how it’s built and how it performs over time.” Sunshine State no El Dorado That’s not to say Queensland is a new El Dorado for builders—there remain challenges, some Queensland-specific, others felt by the development industry nationwide, as the state Productivity Commission highlighted this week in its damning construction sector report. “Resourcing is the most critical issue in Queensland construction, and it requires a long-term strategy rather than a project-by-project response,” Kostas says. This is compounded by the demands of major Olympics and state government-led transport and health infrastructure projects. “Competition for skilled labour is strong, alongside broader pressures around cost volatility and program sequencing,” Kostas says. “We’ve taken the view that you build capability before workload, not after it.” Roberts Co’s Queensland-based team is supported by national procurement, safety and governance platforms, he says. ▲ Roberts Co chief executive George Kostas. Roberts Co also has the backing of the United Arab Emirates-based Arada Group, which injected $50 million into the Australian business after acquiring its NSW business last year. “This strengthens our balance sheet and provides the foundation for disciplined expansion into growth markets like Queensland,” Kostas says. “Arada’s backing allows us to invest in people, systems and early engagement models such as ECI, while maintaining a conservative approach to risk.” Early contractor involvement (ECI) is becoming increasingly prevalent in Queensland, as developer-builder relationships shift and the subcontractor competition gets fierce. “With subcontractors, our approach is relationship-led. ECI, realistic programs and properly scoped packages are essential in a market where capacity is tight,” Kostas says. ▲ Versatile Construction broke ground on Pask’s boutique residential development in Burleigh Heads in October 2025. “Queensland’s regulatory, resource and climatic requirements also mean trades need to be engaged earlier on methodology and materials. “We’re investing time upfront with the subcontractor market so compliance, sequencing and buildability are resolved before they become site issues.” But the fact is, the pool of Queensland subcontractors is not big enough. “There has to be new parties and more people coming into the Queensland market, based on the sheer breadth of work and number of projects that need to be delivered between now and the Olympics,” says Perilli. And this subcontractor growth might also have to come from down south. “It’s a case-by-case basis; while your initial position is to look locally, you need to have a healthy balance of local and interstate subcontractors. “And we’ve been pleasantly surprised at the number of interstate New South Wales and Victorian subcontractors that are looking at setting up in the Queensland market.” The future for Queensland’s newest builders Operating in Queensland requires a different approach around climate, compliance, industrial relations and supply chains, says Kostas, so builders can’t take a cookie-cutter approach. “Success in Queensland depends on combining national Tier 1 systems with genuine local knowledge — of codes, authorities, consultants and trades — so projects are designed and delivered in a way that is right for this market,” he says. But the growing sophistication of the residential, mixed-use and civic sectors is something to invest in. “This is very much a long-term commitment,” Kostas says. ▲ Versatile Construction has started work on Teneriffe Banks. “We’re not entering Queensland opportunistically — we’re investing in local capability, relationships and operational infrastructure to support sustained growth.” Perilli says that his marker for Versatile’s success in Queensland is becoming a “go-to” builder. Targeting a 50/50 approach of third party and self-developed projects, Perilli is predicting strong growth for Versatile in Queensland. “We see Queensland as a great opportunity and exciting time ahead over the next decade, and if we’re seen as a value-add proposition and a developer and builder of choice, then we’re doing all right.” And for Roberts Co, success means being part of Queensland’s growth story. “[We want that to be in] a way that supports the state’s long-term ambitions — not just the Olympic moment.”

Time is Right: Builders Migrate North to Ride Queensland’s Next Boom

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