Apr 07, 2016

Brookfield Multiplex in $1b ‘Jewel’ build

Brookfield Multiplex in $1b ‘Jewel’ build

Brookfield Multiplex has started construction on a $1 billion hotel complex on the Gold Coast for the Wanda Ridong Group.

Located on Old Burleigh Rd in Broadbeach, the three-tower Jewel development will include a three-level podium, a six-star hotel, retail and dining precincts, and more than 500 luxury apartments and premium residences.

Acting Premier Jackie Trad and Tourism Minister Kate Jones joined representatives from Wanda Ridong Group and Brookfield Multiplex this week as they officially signed their development agreement.

“Once opened in early 2019, the Jewel will be Australia’s largest hotel and residential complex, and such a significant investment from China’s private sector shows the value the international market places on this booming tourism hub right here in Queensland,” Ms Trad said.

Brookfield Multiplex regional managing director for Queensland Rod McDonald said the project would create 2700 jobs during construction.

The builder was also involved in other major Gold Coast projects including Hilton at Surfers Paradise, The Wave and the Gold Coast Convention Centre.

Meanwhile, two Hong Kong corporations have signed a Memorandum of Understanding to co-invest in an $850 million tourism development on the Gold Coast.

Premier Annastacia Palaszczuk, who is on a trade mission to Hong Kong, met with The Star Entertainment Group, Chow Tai Fook and Far East Consortium to discuss their transformational plans for Jupiters Gold Coast.

The three companies formed Destination Brisbane Consortium to successfully bid for the right to develop the Queen’s Wharf precinct in the Brisbane CBD, a $3 billion project that will see a new integrated resort operational by 2022.

“I have previously welcomed plans by these three partners to build a 700-room hotel and apartment tower at Jupiters, and a live sports theatre, totalling up to $850 million,” Ms Palaszczuk said.

“However they have now signalled an even stronger intent by signing an MOU for the tower plan as well as to pursue further potential development on Broadbeach Island.”

 

Star Entertainment Group managing director and CEO Matt Bekier said the three partners were united in their commitment to the Gold Coast and their confidence to undertake significant investments in the region.

“We are already building a new six-star hotel at Jupiters and would like to make headway as soon as possible on the new tower,” Mr Bekier said.

“In terms of the potential for future investment, we want to develop a range of attractions and a mix of accommodation types that will develop Jupiters as a truly integrated resort with entertainment and lifestyle precincts.”

Ms Palaszczuk said more than 1000 jobs were likely to be created during construction of the proposed tower and live sports theatre.

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