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The ambitious billion-dollar three-tower Jewel development has taken another significant step with the official union of world’s largest developer and Australian’s biggest builder.
High-ranking members of China’s Wanda Ridong Group descended on the Gold Coast’s Palazzo Versace hotel today to officially sign its construction deal with Brookfield Multiplex.
The agreement paves the way for construction of the beachfront development which is estimated to provide 2700 jobs while it is built.
The combined hotel and apartment tower development comprising more than 500, one, two and three-bedroom suites is scheduled to be completed by 2019.
Acting Premier Jackie Trad, who attended the signing with Tourism Minister Kate Jones, called it a billion dollar vote of confidence in the Gold Coast.
“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.”
It will comprise 512 apartments, a 169-room five-star hotel and car parking for 816 vehicles.