Cost of planned Brisbane Olympic Aquatic Centre set to double to $1.2 billion

The estimated cost of delivering Brisbane’s National Aquatic Centre (NAC) for the 2032 Olympic and Paralympic Games has surged to $1.2 billion, almost double the price forecast of $650 million presented by Swimming Australia as it lobbied for the new facility earlier this year.

As reported by Brisbane's The Courier-Mail, the revised figure, revealed by Games Independent Infrastructure Authority (GIIA) Chair Stephen Conry, now positions the aquatic venue as the second-most expensive project in the city’s Olympic infrastructure pipeline, behind only the $3.8 billion Victoria Park stadium.

Despite the substantial cost escalation, Conry noted that while the scope of the aquatic centre project has remained largely consistent with Swimming Australia's concept, the increased cost was a result of “more realistic” budgeting.

Conry told The Courier-Mail “the more realistic cost of the NAC which is being put in the plan … is more than $1 billion."

Conry noted that the facility, which is being touted as a future headquarters of Australia’s aquatic sports, would service the state for “generations to come”, adding "it’s a magnificent asset for the country and (it’s) exciting Brisbane will be the home of the NAC.”

The significant cost increase is unlikely to surprise many Games stakeholders who privately questioned the forecast put forward by Swimming Australia and accepted by the Queensland Government.

Conry also voiced support for legislative reforms introduced by Queensland’s Deputy Premier Jarrod Bleijie, which allow Olympic infrastructure to bypass standard planning laws to avoid legal hold-ups.

With the 2032 Games set to start in exactly seven years, Conry described any efficiency introduced by streamlined Queensland Government processes as welcome, saying "you’re delivering for the greatest show on earth.”

While work continues to progress across Olympic sites, the aquatic centre has taken on symbolic weight as a flagship venue that must balance world-class expectations with post-Games community legacy. Its location in the rapidly evolving Victoria Park precinct reinforces Brisbane’s goal of creating transformative infrastructure that lasts well beyond 2032.

The Courier-Mail report advised that "it is understood the aquatic centre will be funded in partnership with the Federal Government."

Images: Concepts for Brisbane's National Aquatic Centre. Credit: Queensland Government.