Multiplex $600M Market Square Project

15 October 2025
Multiplex $600M Market Square Project

Global contractor Multiplex is delivering the $600 million mixed-use Market Square development, located between Grote and Gouger Streets in Adelaide. 

Developed by ICD Property in partnership with the City of Adelaide, it currently has 4 cranes – the most in Adelaide’s CBD – and is one of the largest commercial property developments ever undertaken in the state. 

The 106,000sqm project will see the Adelaide Central Market trading floor doubled in size, below a podium building atop which sits a 13-storey office tower and a 40-storey hotel and apartment tower. A standout feature is its hand-laid brick façade, designed to echo its original heritage façade which was demolished in the 1960s. 

The Northern tower will house 234 luxury residences, and a 248-room hotel. The podium will feature new retail spaces, childcare, a supermarket and an elevated 3,000sqm public garden.  


Brickwork 

Designed by architects Woods Bagot, Market Square’s facade comprises over 250,000 bricks hand-laid in a traditional stretcher bond and colour-matched to the adjacent Federal Hall. High-level pier corbelling has also been incorporated to match the original façade.  

A total 42 brick archways have been constructed and a central atrium featuring eight internal archways, spanning three storeys high and split into sections. These archways feature stack bonded bricks with bullnose and header courses.  


Construction Methodology 

Significantly, up to 40 bricklayers have been involved in the construction of the project.  

This includes Adelaide-based subcontractor Ranieri, who worked with Multiplex on Cbus Property’s commercial office project, 83 Pirie Street, in 2022. 

To enhance efficiency, Multiplex undertook works on the podium building and towers while the brick archways were underway.  


Quotes 

“We’re thrilled to be delivering this city-shaping project, bringing new life to one of the oldest markets in the country. It adds to Multiplex’s long-standing track record in South Australia and speaks to our expertise in heritage projects,” said Andrew Warren, State Manager – South Australia at Multiplex. 

Market Square has required specialised labour and a strategic construction approach. Our success so far is testament to the hard work our Multiplex team and trade partners, and our ability to collaborate for outstanding outcomes on highly complex projects,” said Mr Warren. 

“Market Square is set to transform urban living and retail in the heart of Adelaide and it is an honour to be part of a project of such significance. Recreating the original brick façade is an important milestone in that journey – it honours the heritage of the site while integrating it into a contemporary development that will serve South Australians for generations to come. ICD Property, in partnership with the City of Adelaide, is proud to be leading this once-in-a-generation project and to be restoring such an important piece of the city’s history,” said ICD Property CEO, Matt Khoo. 

“It’s wonderful to see Multiplex advancing works on this iconic project, which will drive tourism and provide a boost to the South Australian economy while allowing the Adelaide Central Market to thrive and expand,” said City of Adelaide Lord Mayor, Jane Lomax-Smith.