Work has begun on the multi-tower Burswood Point development, which has been called “the largest residential development ever seen in Perth”.

The $3.8 billion Golden Sedayu development will see 4500 apartments, hotels, restaurants and retail shops built between the Swan River and Belmont Racecourse, transforming a long-neglected part of Perth.

The entire project is expected to take about ten years to complete, with the first phase of construction starting early next year.

The first stage will see 67 detached houses and 203 apartment buildings built in an adjacent pair of semi-detached towers, followed by a “mix of mid- and upper-priced properties” in four towers, with up to five per cent of the homes set aside for NDIS and social housing purposes.

“Burswood Point is the largest residential development ever seen in Perth. It will create a completely new community, transform a long-forgotten part of the peninsula and create an iconic new destination that will serve Perth residents for generations,” said Andrew Sugiaputra, Managing Director of Golden Sedayu.

“In addition to 4,500 new apartments across a range of price points, retail space and entertainment, Burswood Point will provide public access to a 2.5km stretch of the Swan River coastline for the first time in 80 years.

He said the start of construction work was “a testament to the hard work of the Golden Sedayu team and the ongoing support of the State Government and the City of Victoria Park”.

Golden Sedayu has already spent $200 million on new access roads, water mains, a sewage pumping station and a new bridge connecting Victoria Park Drive to Burswood Point.

Piling work is scheduled to begin in November, with the first buyers of the luxury, detached homes expected to move in by the end of 2026.

Premier Roger Cook, who attended the sod-laying ceremony with other state government officials on Wednesday, said the investment would pump more than $10 billion into the Western Australian economy.

“The redevelopment aims to open up a previously unused area on our beautiful Swan River, with residential housing, offices, public open space, offices, shops, hotels and leisure facilities close to the city, public transport and potential future ferry routes,” he said.

“Over the next few years, this investment is expected to inject more than $10 billion into the state’s economy and create more than 25,700 local jobs.

“Getting more Western Australians into housing quickly is a top priority for my Government and it’s great to see construction progressing at Burswood Point.”