New kids on the block: tech giants turning Sydney's CBD into 'Silicon Place'

Sydney

GLOBAL technology titans including Amazon.com Inc, LinkedIn and Expedia are moving into Sydney's central business district, providing a commercial property fillip just as Australia's record housing boom starts to tire.

The tech invasion - with locals now dubbing Martin Place, once the heartland of the finance sector, "Silicon Place" - has tightened the office rental market and helped drive down the city's vacancy rate to a near-decade low, according to property manager Jones Lang Lasalle (JLL).