Probuild collapse puts Darling Harbour’s The Ribbon development finish date in doubt

The collapse of a major Australian construction firm could leave crucial Sydney development sites dormant, business experts have said.Lachlan Leeming Follow @LeemingLachie less than 2 min read March 7, 2022 - 4:41PM

NSW

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Sydney “cannot afford” to have a major landmark like Darling Harbour’s former IMAX site remain dormant, with calls for clarity over its future after the latest builder tasked to finish the site collapsed.

Probuild, who were scheduled to complete building the centrepiece harbour site later this year, was placed into administration last month – just over 12 months after they took over the project from the previous builders who also collapsed into administration.

Paul Nicolaou, the executive director of Business Sydney, said as construction at the landmark site enters a sixth year, answers were needed over when it would be completed.

“As we emerge from Omicron and begin rebuilding our city’s economy and international reputation, we cannot afford to have major building projects sitting incomplete and dormant, especially in such important tourist destinations like Darling Harbour,” he said.

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