$500M Gold Coast landmark project receives green light

45 luxurious residences have just received the green light, with Monaco Property Group securing development approval for NALU, a $500 million landmark set to rise on the iconic former Nobby’s Outlook site, one of the most significant beachfront projects ever proposed for the Gold Coast.

Acquired by Monaco Property Group in 2024 for $70 million and officially settled on 9 October 2025, the rare 7,238sqm parcel features more than 80 metres of uninterrupted ocean frontage. Steeped in Gold Coast history, the site is now poised to become a new architectural and lifestyle icon.

With approvals now in place, Monaco Property Group will move NALU into its delivery phase. Designed in collaboration with BDA Architecture, LDG Landscape Architecture, and Tom Mark Henry Interiors, the project will transform the area coastal, merging timeless design, bespoke design, and nature into a rare, once-in-a-lifetime address.

NALU embodies the rhythm and tranquillity of the ocean, while creating a sense of calm and connection for its residents. Residences will range from expansive 237sqm layouts to palatial beachfront homes exceeding 1,400sqm, offering a diverse array of lifestyle options – from refined retreats to grand, family-scale residences.

At the heart of the project is a 2,200sqm lifestyle precinct with a bathhouse, fitness centre and resort-style pool, elevated by a concierge service that delivers ease, wellbeing and luxury to daily life. NALU’s design and amenity celebrates the site’s rare dual treasures — the ocean and the rise of Lion’s Head Park.

“Council’s approval marks an exciting milestone for NALU,” said Jonathan Grasso, co-founder of Monaco Property Group.

“The project will now progress toward construction, working alongside our world-class collaborators to bring NALU to life. Its highly anticipated launch is scheduled for Q1 2026.

“Our vision is to create a legacy project for the Gold Coast, one that not only honours the history of the site but also elevates its future, setting a new standard for coastal living in Australia. NALU embodies the pinnacle of design and location and will stand as an enduring icon of prestige and liveability.”

Originally developed in the 1970s as Nobby’s Outlook and later refurbished in 2019 as Nalu, the property has long held a place in the local community’s coastal identity. The new vision will build on this legacy, creating luxury residences that capture ocean views while fostering a lifestyle defined by wellness, connection, and ease. 

Beyond its residential offering, NALU will deliver significant economic benefits to the Gold Coast through job creation and opportunities for local suppliers and contractors. Construction is anticipated to commence in early 2026, with completion expected in Q3 2028.

More than a development, NALU represents a once-in-a-lifetime opportunity to secure a residence on one of Australia’s most remarkable beachfront sites, a project that will stand as both a local legacy and a national landmark.

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