Jupiters’ gets the go-ahead for $500 million high rise
The Queensland government has given the green light for a new $500 million hotel and apartment complex at Jupiters Gold Coast.
Work on the project, a joint venture between The Star Entertainment Group and Chow Tai Fook and Far East Consortium, is expected to start in 2017, subject to a strong level of apartment pre-sales.
The new tower will have 300 hotel rooms and residential apartments. It will also offer a new restaurant and bar, a day spa, an eighth floor recreation deck with ocean views and a resort pool for hotel guests. That’s in addition to residential facilities and open spaces and tropical gardens designed to make the most of the city’s climate and lifestyle.
It’s all part of Jupiter’s plans for a $345 million refurbishment of the existing casino and building a new, six-star, 17-storey luxury hotel at the front of the property.
Matt Bekier, managing director and CEO of The Star Entertainment Group said the complex was being positioned to capitalise on the tourism boom.
“The Star Entertainment Group and our partners have great confidence in the tourism outlook for Queensland,’’ Mr Beckier said.
“With increasing visitation forecasts out of Asia and China, together with strong domestic tourism figures, Queensland is well-placed to capture this growth but needs enhanced tourism product to meet the demand.
“Our vision is to continue to transform Jupiters into a truly integrated resort on the Gold Coast, and help position the tourism industry as an economic driver in Queensland.”
This comes at a time when the gambling war between Star and James Packer’s Crown Group is heating up with the ASF consortium declaring that Crown is the obvious choice to operate its casino at The Spit.
“They are a well-known Australian business, they have done well in this space and if there is potential and there is a market, in growth and tourism then they are fully interested in operating in Queensland,” ASF director Louis Chien told the Gold Coast Bulletin.
“They are backing out of Vegas and cutting back on Crown stakeholdings to focus more on Australian business and opportunities here so read into that how you want.”
by Leon Gettler, 19th December 2016