Investment opportunities worth more than $2 billion will be created on the Gold Coast after the Queensland Government approved The Star Entertainment Group’s Master Plan for the glitter strip and Brisbane.
Under the plan, four new accommodation towers housing around 3,000 new rooms, apartments and suites will be developed on the Broadbeach site in a complex which, when complete will rival Singapore’s Marina Bay Sands in terms of pure size. A fifth tower already under construction will become the home of Dorsett Hospitality’s entry to the Australia market.
In conjunction with Hong Kong-based partners Far East Consortium and Chow Tai Fook Enterprises, The Star’s Master Plan aims to create a mega-resort boasting a vast expansion of dining and bar precincts as well as new entertainment and retail offerings.
Further north in Brisbane, the approved Master Plan will see renewing restoration works completed on the heritage-listed Treasury Hotel and Casino building. The plan will also see the completion of the already-announced Queen’s Wharf project, its four hotels, dozens of restaurants, bars and public spaces.
Back at Broadbeach, construction of the four new towers is expected to create around 1,800 new jobs and up to 3,000 more in ongoing operations.
“Over the past four years Star has demonstrated its confidence in Queensland’s tourism outlook by making significant investments to drive economic growth and job creation on the Gold Coast,” Queensland Premier Annastacia Palaszczuk said.
“The Star Entertainment Group is driving a massive injection of private sector funding into Queensland’s tourism industry, creating thousands of construction and operational jobs and opening up countless new supply opportunities for Queensland businesses.”
New features to be developed on the Gold Coast, according to the plan, include a recreational deck, new swimming pools and water features, new day spa, dining precincts, new entertainment venues and a nightclub capable of hosting international acts.
The Star Entertainment Group CEO, Matt Bekier, welcomed the government’s approval of the Master Plan.
“This would be a project of incredible scale, delivering substantial economic benefit to the State from jobs and increased tourism visitation.
“Our vision is to be Australia’s leading integrated resort company and our plans for the Gold Coast are completely aligned with that positioning.
“We are excited about the tourism forecasts we are seeing for the Gold Coast and much-needed new infrastructure will deliver a resort of true international appeal,” Bekier added.