Chifley Tower occupies one of Sydney's most expensive sites, bought for $306 million by the Bond Corporation in 1988, owned by Australian businessman Alan Bond.
Built on the most elevated site in the city, when measuring to the top of its spire, it is considered the tallest building in Sydney. During its construction between 1989 and 1992, the building was known as Bond Tower, and replaced the old Commonwealth Government offices.
However, the Bond Corporation declared bankruptcy in 1992 and the ownership was transferred to the Japanese construction company Kumagai Gumi. In 1993 the building was renamed Chifley Tower, after former Australian prime minster Ben Chifley and its location at Chifley Square.
Chifley Tower welcomed its first tenants in October 1992 and Chifley Plaza opened for business in October 1994. Global investment firm GIC acquired Chifley Tower and Plaza in 2005.