The Development Agreement is the contract between the NSW Government represented by the Barangaroo Delivery Authority and the developer of Central Barangaroo, Grocon (CB) Developments Pty Limited. The obligations of Grocon are guaranteed by Grocon Constructors Pty Limited.
The Development Agreement allows Grocon to develop leasehold buildings on Central Barangaroo. Commercial, retail and residential buildings on Central Barangaroo will be subject to leases which are mostly for 99 year terms. The Development Agreement provides that the land title to Central Barangaroo, including ownership of the public domain, remains in public ownership for the benefit of the people of New South Wales.