The government has announced the start of the sale of public land and has outlined its plan to build a public park and river network.
The sale will see a total of 6,000 hectares of land sold for $1.4 billion, and the government has said that it will sell another 7,000ha in a bid to build the National Parks Reserve and the New South Wales Riverbank.
The government will sell its remaining 3,000-hectare (2,500-acre) public land for a total $1 billion.
It is also setting aside $750 million to build an additional 50 kilometres of road in the CBD.
The announcement comes as the government is expected to issue another round of auctions of its land holdings.
The land auctions will be held in stages.
The auction for the new CBD will be the first in the capital’s history, and will see the sale go to the state’s Department of Planning and Environment, which is responsible for the planning process for land.
The other auctions will see properties being auctioned for recreational use or for private development, such as the NSW Riverbank, which will be part of the government-owned park system.
The NSW Rural Fire Service is also part of government-run parks and recreational areas.
The federal government is also keen to sell its other land for recreational purposes, such a waterway, a river, and a national park.