The Premier, Lara Giddings, today congratulated Tasmanian company Derwent Park Developments for achieving a coveted environmental rating for its office redevelopment at Moonah.

It is the first time National Australian Built Environment Rating System (NABERS) 5 Star Whole of Building Rating has been awarded in Tasmania.

"I would like to congratulate Derwent Park Developments managing director, Troy Harper, the construction team for this impressive achievement," Ms Giddings said.

"Only a handful of Australian buildings have achieved this rating and, as testament to Tasmanian ingenuity and innovation, the cost of this redevelopment was 50 to 65 per cent less than that of an equivalent mainland building."

"What this building represents is the ability to match quality and practical design with environmental sustainability, while achieving good commercial development."NABERS measures a building's operational impacts on the environment, taking into account factors such as energy and water use, waste management and indoor environment.

"NABERS also measures the environmental impact of tenants so Southern Water and Quarantine Tasmania should also be recognised for their energy efficient business practices."

Ms Giddings said the redevelopment was an example of the strong pipeline of activity in the construction sector.

"Over the next year Access Economics has forecast private commercial construction to grow by 8.5 per cent to $763m."We only need to look at the transformation across the Hobart waterfront precinct to truly understand the scale of this economic activity."Projects either planned or underway include:- The University's Institute of Marine and Antarctic Studies;

- The Menzies Centre Medical Science development;

- The Myer redevelopment;

- The $35 million renovation of the Tasmanian Museum and Art Gallery;

- A proposed $75 million University of Tasmania music and arts development adjacent to the Theatre Royal

- The transformation of Macquarie Wharf 2 into an Antarctic research and cruise ship terminal;

- $50 million to remediate the Macquarie Point rail yards to prepare the massive site for commercial development;

- The accompanying construction of a new Brooke St Pier ferry terminal;

Ms Giddings said the Tasmanian Government was doing its bit to stimulate the sector through its $3 million Innovation Investment Fund and facilitation of a $100 million affordable housing project at Brighton.