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Adelaide's $2B Property Pipeline: What Buyers Must Know Now

Large projects including Festival Plaza Tower 2 and the Market Square redevelopment are progressing, offering context for property decisions in affected areas.

By Adelaide Property Desk · Published 19 July 2026

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This article was written by AI from the linked sources and was not reviewed by a journalist before publishing. The Daily Adelaide is part of The Daily Network and follows our reasonable editorial care.

Construction has started on Festival Plaza Tower 2, an $800 million project that will reach 160 metres and 38 storeys with completion expected in late 2028. The $500 million Market Square redevelopment around Gouger and Grote streets is set to complete later in 2026 and includes a 40-storey residential and hotel tower with expanded Central Market retail and public space. Palumbo Group is nearing completion of its $150 million Sofitel Adelaide development.

Transport and Outer Corridor Works

The $15.4 billion T2D Project forms the final 10.5km of the North-South Corridor and remains under construction. It will deliver a non-stop motorway with two tunnels that bypass 21 traffic lights between Gawler and Old Noarlunga. The $250 million Forestville development, located 3.5km from the CBD, is also under construction and features 71 terrace homes that are 95 per cent sold, with apartment sales scheduled to launch later in 2026.

Supply Timing and Location Factors

These projects add residential capacity and improved transport links at different stages. Market Square and the Sofitel Adelaide are due to finish in the nearer term while Festival Plaza Tower 2 and Forestville apartments extend further out. The T2D Project improves connectivity along the North-South Corridor. Buyers evaluating properties near Gouger and Grote streets, Forestville or along the corridor may weigh the timing of these completions against current availability.

Practical Steps for Prospective Buyers

Review project timelines from the verified sources when assessing suburbs close to the listed works. Track progress on the $500 million Market Square redevelopment and the Forestville terraces already on the market. Compare transport improvements from the T2D Project against locations between Gawler and Old Noarlunga. Check completion dates such as late 2028 for Festival Plaza Tower 2 before committing to longer-term purchases in those precincts.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.