By Samantha Cooke, Isabel Vieira and Madeleine Ing

Construction will begin on a new 29-storey multi-use building at Elizabeth Quay in 2020.

Chevron Australia and Brookfield signed a contract to confirm the development which is set to be completed in 2023 on Monday.

The tower will feature more than 54,000sqm of office floor space, with diverse exhibition, conference and lobby facilities.

Lower levels of the tower will include restaurants and cafes, gymnasium and childcare spaces with room for retail tenancies.

Premier Mark McGowan said around 1000 jobs would be created as a result of the partnership.

“Thousands of employees will be based at the headquarters, benefiting small businesses throughout the city, and activating Elizabeth Quay,” he said.

“This is another expression of confidence in the Western Australian economy, shows things are happening, businesses are investing and that there’s a real sense of optimism here in Western Australia.”

The government was committed to the success of Elizabeth Quay and trying to ensure it became a key feature of the city’s waterfront well into the future.

Planning Minister Rita Saffioti said this development would help Elizabeth Quay become more self-sustainable.

“Chevron’s new headquarters will contribute to delivering a vibrant, activated Elizabeth Quay, which is ultimately expected to be home to 1400 people and 10,000 workers,” she said.

“Hundreds of millions of dollars of taxpayers money was used to create Elizabeth Quay, and this government is 100 per cent committed to making it work and becoming something all Western Australians can be proud of.”

Chevron has signed a commitment to lease around 78 per cent of the tower.

Chevron Australia’s managing director Al Williams said: “As a leading employer in Perth we are excited about this iconic waterfront development reflecting our long-term commitment to the Perth community and Western Australia.”