This is the largest package of early works contracts released so far, and will provide a shot in the arm for the local construction industry.

The works support stage one of the project, a 13-kilometre light rail corridor connecting Griffith University and the new 750-bed Gold Coast University Hospital to Broadbeach, passing through the key centres of Southport and Surfers Paradise.

Bligh says the project is the first light rail network in any regional Australian city and is part of managing the enormous growth that has occurred on the Coast.

“These major tenders confirm the project will be delivered and we will build a transport network that will take 75,000 cars off Gold Coast roads when it is completed in 2014,” she says.

“This will provide a fully integrated public transport system and a more affordable and reliable alternative to car travel for all Coast residents, boosting public transport use from 4 percent to 10 percent.

“Let me be perfectly clear – it is full steam ahead for rapid transit. It is becoming a reality and that’s great news for the Gold Coast.”

Albanese says the project is part of the Rudd Government’s unprecedented $37 billion investment in transport infrastructure.

“Our record investment is aimed at building more sustainable communities, a more productive economy and supporting the economic recovery,” he says.

“This project ticks all the boxes – it will slash greenhouse gas emissions 114,000 tonnes within its first decade of operation and generate more than 6,300 direct and indirect jobs for locals.

“After a decade of neglect, the national government is now back in the business of building our cities, and these tenders show we are serious about better infrastructure for the Gold Coast.”

Bligh says the road-works package will be delivered using a competitive early contractor involvement (ECI) approach.

“The project team has identified two government-funded packages valued at approximately $110 million that will lay the foundations for the future light rail system,” she says.

Advertising for the two road works will commence over the next week with the packages divided geographically into two areas: road works north (Southport); and road works south (Broadbeach).

The works would include road widening, the relocation of public utilities and accommodation works such as the reinstatement of driveways, fencing and car parks.

“These works are vital in preparing the stage one corridor for the laying of the light rail tracks and the construction of stations which will be conducted by the appointed operator from 2012-2014,” Bligh says.

“We are seeking Main Roads pre-qualified and experienced contractors to bid for the road-works packages and I would encourage all interested contractors to visit the e-tenders website www.tenders.qld.gov.au for more information.”

The latest quarterly report by Colliers International highlighted Surfers Paradise, Southport and Labrador as hot spots in 2010, with house and unit prices set to soar between seven and 10 per cent.

Helensvale, Varsity Lakes, Robina and Tugun, located close to major shopping centres and the Pacific Motorway, also made the list of best buys.

Colliers research director Aaron Maskrey said Gold Coast property prices were set to rise rapidly this year, as the beachside region bounced back in the wake of the global financial crisis.

“After the challenging year of 2009… due to the global economic conditions impacting on the Gold Coast property market, hot spots for 2010 will focus on areas where recovery will most likely thrive,” he said.

But property analyst Michael Matusik said the price recovery on the Gold Coast could be limited, as the market had performed as poorly as expected in 2009.

“The Gold Coast market, and in particular Surfers Paradise, has been getting a caning of late,” Mr Matusik said.

“There is no question that the Gold Coast is doing it tougher than the rest, with our data [which is based on cleaned up resales] showing that apartment values fell nine per cent during 2008 and a further four per cent last year,” he said.

“According to the latest Queensland government valuations issued in March, ocean-front land has fallen by 30 per cent on the coast.

“But ocean-front apartment values in Surfers Paradise at least actually rose last year – up by 8.9 per cent.”

Mr Maskrey said the property compass has pointed towards suburbs to be serviced by the Gold Coast’s planned Rapid Transit System, although the first stage of the $949 million project is not due to be completed until 2014.

Median prices in each of the listed hot spots ranged from $320,000 for units to $515,000 for houses at the end of 2009 according to the report.

But Mr Maskrey said the completion of the Rapid Transit System and developments in Surfers Paradise, including the Soul and Hilton towers, could soon see property prices jump up to 10 per cent as local residents are attracted back to the tourist hub.

However, local buyers will face competition from foreign investors.

During December and January, the Juniper Group reportedly secured seven sales amounting to $10 million at its 77-storey, $850 million Soul development in the heart of Surfers Paradise, for Chinese, Indonesian and New Zealand investors.

Overseas buyers injected $407 million into the state’s residential market last financial year, of which 45 per cent was spent on the Gold Coast.

Mr Maskrey said first-home buyers may find better value for money in Helensvale where townhouses and units were priced in the $300′s.

“Helensvale is home to a Westfield Shopping Centre and has easy access to the M1 and a railway station,” he said.