Colliers International's 2015 market review and outlook for Queenstown estimates the total value of commercial construction projects under way or planned to commence this year exceeds $250 million.
These include public sector projects such as roading on the Frankton Flats and the $25 million Kawarau Falls bridge.
Colliers valuation director John Scobie, of Queenstown, said: ''Once completed, these projects could provide a further 700 to 800 jobs - it creates a pretty positive business environment.''
Queenstown leads the country in Colliers' latest commercial property investor confidence survey after overtaking Auckland for the first time.
That will be no surprise to some after a sizzling summer for tourism operators and with the commercial boom paired with an increase in residential construction.
Colliers predicts the resort's property market will continue expanding for at least the next two to three years.
Pent up demand is expected to sweep up new section releases at entry level Shotover Country and higher priced Jacks Point.
Several new apartment and townhouse developments are planned or under way, such as Alta Apartments at Frankton and La Residence du Lac, below Frankton Rd.
The Colliers report said Queenstown's ongoing housing shortage would result in significant price gains, and the acute shortage of long term residential rental accommodation will flow into rent increases. The Frankton flats, meanwhile, are depicted as a hive of commercial activity.
Projects include the $20 million Mitre 10 Mega store, the 15,000sq m first stage of the Five Mile shopping centre, the $12 million Queenstown Airport terminal extension and The Landing complex, Ramada Hotel, an office/retail building and a recreation precinct at Remarkables Park.
There is even more to come.
More development land at Frankton is freed up with the Queenstown Lakes District Council's plan change 19 opening up another 60ha of mixed use land for development.
The council is also pushing to expand the Queenstown town centre to facilitate a new conference centre, which might be suitable for hotel development.
''Clearly, the market is in excellent shape and has a solid base for growth through the rest of this cycle and into the future,'' Mr Scobie said.
By Philip Chandler.
