Fantastic Fridays a fab idea, says Property Council

The Property Council of Australia has welcomed an initiative to entice workers back to Sydney’s CBD

The Announcement:

NSW Executive Director of the Property Council of Australia Jane Fitzgerald today said the NSW Treasurer’s announcement of a $50 million investment to entice workers back into the Sydney CBD on Fridays was a fantastic pre-budget announcement.

The Property Council has advocated for a Friday-focussed initiative in capital cities, including Sydney, to encourage workers back and help reinvigorate CBDs, the engine rooms of the Australian economy.

“Fridays should be fantastic, fun and face-to-face for the CBD workforce,” Ms Fitzgerald said.

“Putting $100 into the pockets of CBD workers – and tying the use of the vouchers to the day where we know less people are currently working from their CBD offices – is a great way to give other CBD businesses a boost and encourage teams getting together.

“The Treasurer has clearly reviewed the great suggestions made at his second ‘Ideas Summit’ and we are delighted he has embraced the Property Council’s idea.”

The scheme will allow 500,000 people to apply for the vouchers. They will be entitled to four $25 vouchers each. Their use will be limited to the 2000 postcode.

Ms Fitzgerald said the most recent Property Council occupancy data showed the Sydney CBD continues to slowly recover with occupancy now at 68 percent of pre-COVID levels.

“Governments have a key leadership role to play to fire back up our CBDs so this investment by the NSW Government right now is vital,” Ms Fitzgerald said.

“The Sydney CBD is the economic heart of the nation. About 7 per cent of the country’s GDP is generated in our CBD so Sydney getting its groove back is integral to the economic health of the nation.”

In April prior to the Treasurer’s Ideas Summit the Property Council released a five-point plan to reactive our CBD including promoting a social and business lunch culture to set the scene for a Friday’s campaign via Dine and Discover vouchers.

Source: Property Council of Australia

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