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One Festival Tower Soars to New Heights

Festival Tower Soars to New Heights

Date: 24th Mar 2023

Festival Tower has hit a major milestone, topping out at 115 metres to provide stunning 360-degree views of Adelaide. The premium office tower, developed by Walker Corporation, has already secured commitments from leading global and local companies such as Mott McDonald, VALO, Vircura, and Ikara Estates. The tower is now 90% committed ahead of the first tenants moving in later this year.

According to Premier Peter Malinauskas, Festival Tower will drive corporate investment and economic growth in Adelaide's CBD. He believes that the tower's premium offering will attract global and local companies to bring skilled jobs to South Australia, creating new employment opportunities. It will welcome up to 4,000 students and workers who will be future leaders in technology, government policy, accountancy, consulting, commerce, and law.

Walker Executive Chairman Lang Walker AO said that the topping-out of Festival Tower was a big moment in the evolution of the Adelaide skyline. The tower was carefully designed to include wide-open workspaces on every level, allowing the modern skilled workforce to take advantage of state-of-the-art collaboration hubs. The $1 billion Festival project is South Australia's best urban transformation with unrivalled connectivity linking to trains, trams, buses, and active transport as well as a 1,500-space underground carpark.

Mott McDonald and VALO will join anchor tenants Flinders University and Deloitte in Festival Tower, which will be the tallest all-electric building in Adelaide, procuring 100% of its electricity from renewable sources to achieve a 6-star Green star rating and 5.5-star NABERS rating. Built to a gold WELL rating, Festival Tower used 25,000m3 of concrete in its construction, the equivalent of 10 Olympic swimming pools, as well as 3,000 tonnes of steel reinforcement. Over 90% of construction waste has been recycled so far.

Festival Tower is a premium offering never before seen in Adelaide. It presents an unmissable opportunity for companies to expand and grow. Overall, Festival Tower is a significant milestone in Adelaide's growth trajectory, and it will play a crucial role in driving economic growth and development in the city.