UPDATED: 9.14AM Commercial property in Wellington is in hot demand, and it's expected to get more sought after once global retail giants move in.

A report to be presented at the Wellington City Council Economic Growth and Arts Committee today shows commercial property investment has doubled in the past year.

Committee Chair Jo Coughlan said there's been a complete rebound, and they're looking at further growth.

"In 2015 alone there's been 500 million investment sales in Wellington in the commercial property area."

In 2014 sales were around 250 million.

Ms Coughlan said it's exciting.

"People will know quite a lot's been happening in the retail sector as well. Some exciting new businesses coming to Wellington including David Jones, RM Williams and Zara potentially."

Wellington's economic development agency's plan for the next year is being reviewed this morning.

The city council funds 80 per cent of WREDA's $30 million budget.

Ms Coughlan said it's vital the city is doing all it can for economic growth.

"So we'll be looking forward to having a talk about the kind of programmes and activities that they've got in place for the 2016-2017 year."