Premier Richard Court, announced in November 2000 that a contract had been signed with
Multiplex after five months of negotiations. Construction was to commence in June 2001 with a late 2003 completion date. Built by Multiplex at a cost of , equivalent to in , it was officially opened on 26 August 2004 by Premier
Geoff Gallop. Its construction was extremely controversial, owing to an overblown budget and an unprepossessing external appearance. It has been described as a "Soviet-era mausoleum" and a "giant grey cockroach", as well as a
white elephant whose financial viability has been questionable. However, it made it possible for Perth to host the
2011 Commonwealth Heads of Government Meeting (CHOGM), with heads of state and official delegates of more than 50 member countries. The
Wyllie Group have a 35-year lease on the centre until 2039. It is managed by
Spotless, who committed to spend over 22 years starting in 2016, equivalent to in , ensuring Perth Convention and Exhibition Centre remains a major destination for national and international events and provides economic value for Perth and Western Australia. In 2016 the Perth Convention and Exhibition Centre attracted more than 900,000 visitors, including 98,000 national and international delegates. In 2022,
Brookfield purchased a 50 percent stake in the centre. In January 2024, the
Government of Western Australia revealed plans by Wyllie Group and Brookfield to upgrade the centre. The proposal included expanding capacity as well as building a new waterfront area with direct access to the Swan River with three jetties and a floating performance stage, and a new pedestrian bridge connecting the centre to
Elizabeth Quay. Wyllie Group had hoped the upgrade would be completed by 2029, however in November 2025 the State Government cancelled the upgrade project to free up funds for three major hospital projects instead. ==Location==