National construction company Probuild has added a contract to build the third tower at Kings Square to its pipeline of work, taking its value of deals won in the first few months of 2014 to more than $130 million.
Probuild said the $50 million KS3 contract would cover construction of a nine-storey office tower including restaurants, a gym and childcare facilities.
The company was also recently awarded a $77 million deal to construct the second stage of the Baldivis Shopping Centre, expanding the facility by 20,000 square metres.
The Baldivis works are expected to be completed by Easter next year.
“We look at it very positively in terms of growth, landmark projects and innovation,” he said.
“Our pipeline of work doesn’t reflect the lack of confidence being whispered about in the non-residential property sector right now.
“Perth is a market with some of the most high-profile construction jobs on the horizon – just look at Perth stadium.”
Probuild is part of three finalist consortiums for the Perth Stadium contract, in joint venture with Plenary Origination, Bouygues Construction and Honeywell Limited.
Other projects currently under construction by Probuild include the redevelopment of Cloisters Square Arcade, construction of a 10-storey office project on Hay Street, as well as a $60 million redevelopment of 32 St Georges Terrace.
“Our clients like that they can sit down with the guy who has the final decision and that the process isn’t slowed by levels of management.
“That’s where a lot of players entering the Perth market get it wrong.
“Being nimble is becoming a major competitive advantage in this market, where we aren’t seeing huge growth in tender prices.”