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A $130 million investment in Melbourne's Docklands will see commercial real estate thrive in the area with the development of an office building.
State planning minister Matthew Guy said the property at 839 Collins Street would provide up to 3,000 jobs once completed and 500 jobs during the construction process.
The minister added that this new investment will continue Docklands' reputation as an economic powerhouse.
He explained: "This development is central to the Victoria Harbour Development Plan and will stimulate continued growth in Docklands commercial centre, with significant flow-on benefits to the Victorian economy.
"Docklands has already attracted more than $8.5 billion of private investment at the halfway mark and this development is yet another example of private sector confidence in Docklands."
Known as 'Building Y4', it will be in the heart of the financial district and will consist mainly of commercial real estate or offices spaces.
Businesses that will be neighbours to Y4 include Myer, ANZ bank, the NAB and the Australian Tax Office.
It's expected that upon completion, the building will contribute to attracting millions of visitors to the area, in addition to providing office space for up to 60,000 workers.
