WORKS have started on the much-touted Aspial seven towers project, after Queensland Premier Campbell Newman formally announced it in Cairns this morning.

The project, dubbed “NOVA8”, will feature seven commercial and residential towers to built along Spence St opposite Cairns Central shopping centre.

Construction workers equipped with excavators, graders, front-end loaders and trucks were already clearing away rubble ahead of the premier’s announcement late this morning.

Mr Newman announced the start of the first $120 million stage of project this morning.

The premier is in Cairns to make a range of announcements as part of the state election campaign with the construction start today to be the highlight.

Singaporean developer Aspial Corporation has decided to bring forward the tower project by several months after committing to a July 1 start.

MORE NEWS...

CAIRNS WANTS 4.2 MILLION VISITORS

TIGER LAUNCHES $16 RETURN FLIGHTS

TOURISM LEADERS WANT POLICY DETAILS FROM LNP

PASSENGER RECORD FOR CAIRNS AIRPORT

Company chief executive Koh Wee Seng told The Cairns Post last month the company would apply for an infrastructure discount from the Cairns Regional Council with the intention of starting construction by July 1.

He said the council’s move to open a new round of discount incentives had given the company confidence to make the proposal a reality.

Aspial is planning two residential high-rises as the first stage of a $400m development that totals seven towers, including a commercial building, in Spence St opposite Cairns Central shopping centre.

media_camera Artist's impression of proposed development in Spence St, Cairns by Singapore based Aspial Corporation.

While the corporation is aiming for a July 1 start, it was hoping to bring forward work, depending upon the wet season, council and other approvals. The first stage could be completed in 2017.

Mr Koh earlier said he was pleased the council had announced the program to waive fees associated with development headworks.

“We welcome this initiative by a proactive council that appears committed to encouraging investment opportunities in Cairns,” he said.

“We intend to apply for this program and we will commit to bringing forward construction on towers 1 and 2 to meet the time frame requirements for the program.

“As a company that sees the potential in Cairns, Aspial is looking forward to a long-term involvement with the city and we hope other investors will recognise this excellent opportunity.”

It is estimated the discount to Aspial will be about $1m.