Rising 2032 Olympics costs could see Gabba redevelopment exceed $1 billion

Queensland Premier Annastacia Palaszczuk has conceded that increasing building costs and material shortages could see the redevelopment of Brisbane’s Gabba for the 2032 Olympics exceed its projected $1 billion price estimate.

The Queensland Premier’s advice that she is comfortable with plans for both the Gabba and the Brisbane Live development after concerns were raised last week about additional construction was needed to allow the venues to be built for the 2032 Olympics.

Speaking at a media conference yesterday Premier Palaszczuk said there would be a business case for the Gabba redevelopment, with the Queensland Government "working through all those issues at the moment".

When asked how estimates that the redevelopment would cost $1 billion had been arrived at, Premier Palaszczuk said it was based on cost estimates at the time, noting “of course now we understand that there's been a lot of increase in … shortages of supply and materials, they're worldwide issues.

Speculation about the cost of the Gabba redevelopment has increased in recent weeks with concerns that the planned rebuilding of the venue to accommodate a capacity of 50,000 will impact the local road network.

Last week, it was reported a proposal to tunnel under the streets had been put forward but that would significantly increase the $1 billion cost of the Gabba redevelopment while a review is also understood to be underway as to whether the Gabba’s current footprint can accommodate a larger stadium and whether redevelopment would the venue occupy the site of the East Brisbane State School.

Queensland Deputy Premier Steven Miles, who is also the Minister Assisting the Premier on Olympics Infrastructure, also advised that funding decisions are made about the planned Brisbane Live arena proposed for the Roma Street railway station.

Minister Miles explained “this process will ensure the Arena is fit for purpose and delivers the best legacy outcomes for Queensland.”

The COVID impacted Tokyo 2020 Olympics cost more then double the original estimates for the event.

Images: Concepts for the redeveloped Gabba. (Credit: Queensland Government).