DEVELOPER Greaton has appointed Multiplex to complete its $1 billion The Ribbon project in Darling Harbour following the collapse of previous builder ProbuiId earlier this year.
Multiplex will be the third builder appointed to the project, with Probuild’s appointment early last year coming after Grocon fell into trouble.
Construction at The Ribbon, which will include a 585-room luxury W Sydney hotel, Imax theatre and retail, is largely complete. Remaining works mostly relate to the internal fit-out, along with some public domain contribution works to the Darling Harbour precinct.
Probuild collapsed in February when its South African parent company Wilson Bayly Holmes-Ovcon withdrew financial backing and leaving $5 billion worth of developments and hundreds of jobs in jeopardy.
Sydney-based Roberts Co has since taken over six of Probuild’s Victorian projects, including SP Setia’s 65-level Uno residential tower, CSL’s new headquarters and research lab in North Melbourne, ISPT’s 500 Bourke Street office building, and Woodlink’s 15-storey hotel at 502 Albert Street.
“The Ribbon is one of the most complex new major developments currently underway in Sydney and occupies public land right on the harbour foreshore. Appointing a new builder has involved extensive consultation with our various stakeholders,” said Michael Calvi, project director for South Australia-based Greaton,
“Multiplex was the clear frontrunner in being able to put the finishing touches on such an important landmark for Darling Harbour and for Sydney.”
Multiplex started on site this week.
Calvi added Greaton was “also pleased to continue working with our strong top-tier subcontractor partners, including Buildcorp for the interior fit-out works, who remain committed to completing The Ribbon throughout the transition period”.
David Ghannoum, regional managing director Multiplex, said, “Multiplex built the original IMAX theatre some 25 years ago, and so it’s with great pride that we are supporting Greaton to bring this re-imagined project to fruition”.
