Parramatta Emerges as Sydney’s Second CBD

Parramatta is rapidly transforming into Sydney's second central business district, attracting major businesses and infrastructure investment. However, this rapid development is adding pressure to essential services, including the legal system. More than one-third of ASX 500 companies have established a presence in the area, reinforcing its status as the commercial core of Greater Western Sydney.

What was once a suburban satellite has grown into a significant urban center. The opening of Parramatta Square, a six-building precinct inspired by European plazas, has been crucial in drawing employers, students and visitors. With more than 7.6 million recorded visits last year, the precinct is at the heart of a wider transformation that is reshaping the skyline and economy.

Today, over 400 professionals from major consulting firms work in Parramatta Square, up from just a dozen in 2015. Its strategic location, strong public transport connections and vibrant mix of restaurants and retail have helped attract young professionals and foster collaboration. Western Sydney University was one of the first tenants and has boosted the area's academic reputation. Other universities are now also using the space for innovation and community outreach.

Despite this progress, the city’s growth is creating strain in infrastructure. Legal experts have raised concerns that Parramatta's justice system is struggling to keep up with demand. A limited number of court facilities cannot support the rising volume of complex legal disputes. With more developments under way, continued population growth and the construction of the Western Sydney Airport, delays caused by inadequate legal infrastructure may affect access to justice.

Looking forward, Parramatta's transformation is expected to continue. According to KPMG, the broader region will generate 173,000 new jobs in the next five years, driven by a growing and well-educated population. In response, the local council has launched the Parramatta 2050 plan, which divides the city into five districts to guide development and ensure that the CBD functions as the main hub of economic and cultural activities.

Parramatta's cultural footprint is expanding with a $1.4 billion museum development, upgraded theatre spaces and modern public infrastructure projects. The completion of the new airport is set to bring more tourists and business travellers directly into the city, helping cement Parramatta’s rise not just as Sydney's second CBD but as an emerging global city.

Source: Australian Financial Review, City of Parramatta Council, NSW Department of Planning and Environment