Second huge building firm faces COLLAPSE with $1billion in projects and 125 jobs on the line just weeks after Probuild crashed

• Queensland construction giant Condev met with developers on Monday 
• Company is facing collapse amid labour shortages, floods, rising material costs 
• It comes just weeks after construction firm Probuild entered administration
• Condev, which currently has 18 projects, is in discussions to create a rescue plan

By TITA SMITH FOR DAILY MAIL AUSTRALIA

PUBLISHED: 17:51 AEDT, 14 March 2022 | UPDATED: 18:36 AEDT, 14 March 2022

Queensland construction giant Condev is facing collapse, placing $1billion in projects and 125 jobs up in the air as the company is rocked by labour shortages, floods and soaring material costs.

The huge building firm met with developers on Monday afternoon in a last-ditch bid to salvage the company, which has projects across the state's southeast worth hundreds of millions of dollars. 

Discussions are underway to create a rescue plan to prevent Condev - one of the biggest construction companies in Queensland - from ruin, with developers assessing how projects can be finished without sparking further financial loss. 

It comes just weeks after Probuild was placed into voluntary administration after falling into tens of millions of dollars of debt, leaving hundreds unemployed and dozens of projects unfinished nationwide.

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