Gold Coast's New Tower Plan

Market Insights
8 years ago
2 minutes

The Palaszczuk Government has welcomed The Star Entertainment Group’s proposal for a 700-room hotel and apartment tower at its Jupiters Integrated Resort on the Gold Coast.

Premier Annastacia Palaszczuk said the proposal, in addition to the $345 million refurbishment of Jupiters, vindicated the Government’s commitment to Gold Coast Light Rail, the 2018 Commonwealth Games and attracting more direct international flights to the Gold Coast.

The proposed tower and live sports theatre could increase the total investment at Jupiters to $850 million and double available rooms and apartments to 1400.

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

The current workforce of Jupiters could increase from around 1800 to about 2300 once projects were complete, she said.

“While the proposal is subject to various approvals and joint venture agreements, I commit my Government to work with The Star and its partners on the tower plan,” the Premier said.

“Over the last 12 months, we have attracted more than 40,000 additional seats on international flights directly into the Gold Coast. More flights mean more nights’ accommodation in hotels, more economic activity for small businesses and more jobs on the Gold Coast.”

Tourism Minister Kate Jones said Gold Coast continues to build its famous for fun reputation with 10 per cent growth and a record $1.1 billion in expenditure in the year to December.

“The Gold Coast’s total visitation grew by six per cent to 872,000,” she said.

The Star Entertainment Group is planning to work in joint venture with Hong Kong-based Chow Tai Fook Enterprises and Far East Consortium on developments at all three of its properties in south-east Queensland and Sydney.

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 transformational project that will see a new integrated resort operational by 2022.