Western Australian Treasurer Rita Saffioti has indicated that the Perth Park project, initially budgeted at $217.5 million, may face a significant cost blowout. Speaking to reporters on Wednesday, Saffioti acknowledged that the final price tag could exceed the original allocation due to evolving design specifications and current market conditions.
Budget Concerns Emerge
The project, which aims to transform a large area of the Perth central business district into a green public space, has been a key initiative of the state government. However, Saffioti stated that the government is closely monitoring costs and working to ensure value for money. “We are seeing pressures across the construction sector, and this project is not immune,” she said.
Design Changes and Market Pressures
Saffioti attributed potential increases to design refinements and rising material and labor costs. The government has not yet released revised estimates, but the treasurer emphasized that transparency would be maintained throughout the process. Opposition spokesperson for finance, Steve Thomas, criticized the potential overrun, calling for greater fiscal discipline.
The project is part of a broader urban renewal strategy for Perth, intended to boost tourism and community well-being. Construction is expected to commence later this year, with completion slated for 2026.
