The Property Council of Australia has issued a stark warning that South Australia could miss out on hundreds of millions of dollars in investment from the world's largest technology companies if the state government does not accelerate its land preparation efforts.
Property Council's concerns
Speaking at a business event, Property Council of Australia, SA Division, executive director Bruce Djite said that while the state government's policies are sound, the lack of a clear strategy for making land ready for development is a major stumbling block. He emphasised that major tech firms are looking for ready-to-build sites, and Adelaide's slow pace could see them choose other locations.
“We have good policy but no strategy when it comes to land readiness,” Mr Djite said. “The global tech giants are not going to wait for us to get our act together. They will go where the land is ready and the approvals are fast.”
Premier's response
Premier Peter Malinauskas acknowledged the concerns and said the government is working on improving processes. He pointed to recent investments in renewable energy and data centres as signs of confidence in the state, but admitted more needs to be done to streamline land release and approval processes.
“We are committed to ensuring that South Australia remains competitive,” the Premier said. “We are actively engaging with industry to identify bottlenecks and accelerate development.”
Economic impact
The Property Council estimates that failing to act could cost the state economy up to $500 million in lost investment over the next five years. This includes potential projects in cloud computing, artificial intelligence, and data storage, which require large tracts of serviced land.
Industry experts agree that the state's renewable energy advantages and skilled workforce are attractive, but land availability and speed to market are critical factors for tech companies making investment decisions.
Call for action
Mr Djite called on the government to establish a dedicated land readiness taskforce, similar to those in other states, to fast-track approvals and ensure adequate infrastructure is in place. He also urged closer collaboration between state and local governments to avoid delays.
“This is a once-in-a-generation opportunity,” he said. “If we don't seize it, the money will go elsewhere, and we will be left wondering what might have been.”
The Property Council plans to release a detailed report next month outlining specific recommendations for improving land readiness in South Australia.
