Opal tower: the canary in the coal mine for high-rise apartment bust
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Already tarnished by the flammable cladding fiasco, the reputation of Australia’s high-rise apartments may be damaged beyond repair after huge cracks were discovered in the newly completed 34-storey Opal Tower at Sydney’s Olympic Park, raising fundamental questions about build quality. From The AFR:
Government-appointed engineers revealed a fundamental shortcoming in the gigantic sector shown up by the fault-ridden Opal apartment building…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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