The joint venture of BESIX Watpac and John Holland is through to the next stage in a major step on the road to delivering the 63,000-seat Brisbane Stadium in inner-city Victoria Park.
The companies that have built major venues around the country - including the Gabba and Melbourne's Marvel Stadium - will now undergo talks with the Games authority and design team to finalise details.
The contract process is set to be finalised in the New Year and stadium construction expected to start later in 2027.
"There is some more work to do. They have to continue to show value for money and the ability to build a quality product for the state," Premier David Crisafulli said of the sole bidder.
"This is the next step. We are getting the Games back on the road and '32 promises something really special."
The stadium had initially been pitched to cost about $3.6 billion.
But when pressed on the cost on Wednesday, Mr Crisafulli said the government was focused on delivering Games infrastructure within its $7.1 billion agreement with the commonwealth.
"We've never said what the budget is for individual projects," he said.
"The negotiations that have been able to be done fill me with confidence that we will deliver it on time and on budget.
"What we will do at Victoria Park will raise the bar."
Australian firms Cox and Hassell had earlier in 2026 been selected to design the stadium, alongside Japanese group Azusa Sekkei.
The Games authority narrowed down the field of potential builders to a sole bidder following a year-long process.
"Comprehensive design, procurement and early works are continuing at pace to deliver the new stadium precinct that will enhance Victoria Park, connecting it to the rest of the city and allowing far more people to enjoy it," authority chairman Stephen Conry said.
Earthworks are already under way at the Victoria Park site which has been the target of ongoing protests.
Several activists were arrested when police moved on protesters at the inner-city park in June as earthworks began.
Campaigners launched a series of applications under national Aboriginal heritage laws that seek to protect areas at the park "under threat of injury or desecration".
Yagara Elder Aunty Kerry Charlton told AAP the park had long served as a village‑like hub with burial grounds, birthing places, ceremonial areas and permanent homes, as well as springs and ancient trees.
After the Games the main stadium will become the home for AFL champions Brisbane Lions and Queensland Cricket, doubling as an entertainment venue with a concert capacity of up to 70,000.
"It will enable Brisbane to be a serious player in a nationally and globally competitive market for major events," Mr Conry said.
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