A diverse portfolio from Townsville to the Gold Coast

In 2002, the company is awarded the $130 million, two-stage Queens Plaza Retail Centre project, the largest retail centre building in Brisbane CBD in 20 years. Major building projects still underway include North Ward Shopping Centre in Townsville, Brisbane's Suncorp Stadium in preparation for the Rugby World Cup in 2003, Macarthur Central retail complex, Docks Apartments and Brisbane Grammer School.

Refurbishments to Pacific Fair Shopping Centre on the Gold Coast also continued as other major refurbishments reached completion. These included the iconic City Beach retail outlet on Brisbane's Queen Street Mall involving the installation of escalators to service two upper floors and the Myer Centre in Brisbane's CBD entailing demolition of six cinemas, construction of a new Target retail store and food hall.

#Watpac also celebrates a number of significant projects reaching completion in 2002 including the Qantas Founders' Outback Museum in Longreach.

Other projects that reached completion in 2002 included Wacol Youth Detention Centre, Forrest Lake High School, the Deepwater Point Apartments Stage 1 on the Gold Coast and Metropolis Apartments and St Andrew's Hospital in Brisbane.

In the same year, 'Keybuilt', a subsidiary business focusing on refurbishments and complex construction, was established. Keybuilt completed the construction and partial fit-out of the Portal Business Park. This new office building heralded the beginning of the revival of the Newstead and Fortitude Valley areas of Brisbane.

This period also saw changes in key leadership with Kevin Seymour AM resigning as Chairman of the Board to focus on other interests. In 2003 Ian Wood would be elected Chairman of the Board. Kevin Seymour would return as Chairman of the Board following the sudden death of Ian Wood in 2004.