BESIX Watpac and John Holland selected as sole bidder for Brisbane 2032 Olympic stadium

A consortium has been selected as the only bidder to progress to the final stage of contract negotiations to build Brisbane's Olympic 63,000-seat stadium.

The site at Victoria Park was handed over to the Games Independent Infrastructure and Coordination Authority in June, with earthworks underway ahead of the 2032 Olympic and Paralympic Games.

Today, the joint venture of BESIX Watpac and John Holland has been announced as the sole builder to move to the next stage of contract negotiations.

Together the companies have delivered a host of stadiums including Lang Park, the Gabba, Melbourne's Docklands stadium and Penrith Stadium.

The contract process for the stadium started in October, with the consortium to now work with the stadium's design team to finalise details and construction methodology.

The stadium is slated to cost about $3.6 billion, and forms part of the $7.1 billion infrastructure plan for the 2032 Games.

Contracts are set to be finalised in the new year, with construction to begin in 2027.

After the Games, the stadium is set to become the home ground for the Brisbane Lions AFL team and cricket's Brisbane Heat and Queensland Bulls.

'No cost blowouts'

Olympics Minister Tim Mander said while negotiations were continuing it was an important and exciting step forward.

"Now it is just a matter of trying to nut out the contracts so we can make sure there are no cost blowouts," he said.

Premier David Crisafulli has previously refused to detail the cost of each project for the Games, saying the government would reveal the costs of projects once they were completed.

Mr Crisafulli said there was more work to do before the contract was awarded.

"They have got to continue to show value for money and the ability to build a quality product for the state, that is important," he said.

Earlier this year, the government announced it had selected Australian firms Cox and Hassell to design the stadium, alongside Japanese group Azusa Sekkei.

The firms worked on Perth's Optus Stadium and redeveloped the Adelaide Oval and the MCG.

Victoria Park has been the target of ongoing protests against the development of the stadium, which peaked earlier this year with the arrest of several activists who opposed its construction at the site because of cultural and historic ties.