Inside Dreamworld’s Plans to Turn a Theme Park into a City

Big Brother may be making a comeback at Dreamworld, but the Gold Coast theme park has far bigger ambitions than reality TV nostalgia. Ardent Leisure, the ASX-listed parent company of Dreamworld, is advancing major plans for a 55.3ha mixed-use “mini-city” that would transform the land surrounding the Coomera theme park into a multi-precinct hub of homes, hotels and entertainment. It is the most ambitious plan for the park since former truck operator and mechanic-turned-entrepreneur John Longhurst, backed by furniture salesman Ken Lord, opened the theme park in 1981. The Queensland Government recently fast-tracked the application after Deputy Premier Jarrod Bleijie used rarely invoked powers to “call in” the development application. The decision moves assessment from the City of Gold Coast to the state, potentially clearing the path for a faster approval. ▲ Ardent Leisure, also known as Coast Entertainment Holdings, owns the entire Dreamworld landholding. Dreamworld chief executive Greg Yong, who came over from rival Movieworld in 2019, called the call-in a “pivotal step forward” for the long-term vision. Not only is it a major project for the northern Gold Coast that could deliver potentially hundreds of homes in support of Queensland’s National Housing Accord requirements, it could mean opportunity for developers too. “While Dreamworld’s immediate focus is on securing the necessary planning approvals, [we] anticipate working with strategic partners at the right time to bring the project to life,” Yong says. “There will be several opportunities for collaboration across a range of asset classes.” Yong said that Dreamworld remained open to partnering with financiers but had “the flexibility to self-fund” parts of the development. And the company is in a strong position to do so. Following successful funding rounds in preceding years, Ardent Leisure reported $96.4 million in operating revenue for FY2024-25—its strongest result since 2016. The plans The “mini-city” plan has been in motion since at least 2023, when Dreamworld lodged an application with the City of Gold Coast to rezone and reconfigure its surrounding land and establish a dedicated Dreamworld development code. Prepared by Gassman Development Perspectives, the application seeks to override the site’s existing zoning to enable the “strategic expansion” of the major tourist attraction and introduce new complementary land uses. On the residential side, Yong positioned the project as “an opportunity to help address Queensland’s housing supply challenges” by introducing new density in a well-connected, infrastructure-rich location. Concept plans outlined several new precincts. A Gateway Precinct (Precinct 3) could include function centres, a hotel, retail, indoor and major sport and recreation facilities, markets, short-term accommodation and theatres. ▲ A map outlining the Dreamworld precinct on the northern Gold Coast. A proposed Town Centre Transition Precinct (Precinct 4) would link with the Coomera rail station and broader town centre, incorporating education, healthcare, and high-density residential development, although apartment numbers are yet to be confirmed. Ardent Leisure is proposing to lift building heights from 34m to 54m—about 16 storeys—with about 14 buildings detailed in initial layouts. These major precincts would surround a nature-based tourism precinct (Precinct 2) with camping and boardwalks at Oakley Creek, in addition to the major tourism core (Precinct 1), where Dreamworld and WhiteWater World sit. “The proposed precinct represents a once-in-a-generation opportunity to evolve one of Queensland’s most iconic destinations into a sustainable, mixed-use hub that unites tourism, entertainment, and community living,” Yong told The Urban Developer. Hospitality at its heart High-density housing and hospitality are key to the precinct’s business case. Dreamworld sees particular potential for a family-oriented hotel and conference centre, leveraging proximity to the Gold Coast Marine Precinct, a new Coomera public hospital and the transport interchange. “With limited accommodation options between the northern Gold Coast and Brisbane, and the Brisbane 2032 Olympic and Paralympic Games on the horizon, this represents one of the most compelling hospitality opportunities in the Asia-Pacific region,” Yong says. ▲ An early rendering of the Gateway precinct. Industry estimates suggest more than 5500 additional hotel rooms will be needed across South-East Queensland before 2032. And Dreamworld hopes to deliver its flagship hotel ahead of the Games, integrating it into the broader masterplan alongside its recently launched Dreamworld Night Market. Yong says the concept mirrors international resort models found next to theme parks in the US and Europe, with Dreamworld’s team “drawing inspiration from global destinations and adapting the best elements to the local environment”. Hurdles to development Despite government backing, the proposal faces environmental and logistical challenges. The plan would require clearing 42,285sq m of koala habitat, including more than 1000 habitat trees, already drawing flak from residents and conservation groups. The other major challenge is how the project will be built. The project faces the same constraints as the wider industry: labour shortages, materials costs and fierce competition from major infrastructure projects—many tied to the Olympics—such as newly approved 101-storey Southport dual towers . ▲ A rendering of Precinct 3 looking south towards the major tourism centre. Ardent Leisure estimates the Dreamworld project will create about 1500 construction jobs during its lifecycle. However, for now, the company is careful not to overpromise. “The group has not made any decisions or commitments regarding the proposed use of the land should the application be approved,” Ardent said in an ASX update. “We will continue to assess all options to ensure maximum benefit for shareholders.” A strategic pivot While Dreamworld is still at the submission stage, its pivot signals a broader trend: theme parks evolving into multi-use destinations that blend leisure, housing, and community life. Yong says the masterplan supports Tourism and Events Queensland’s Destination 2045 Vision, aligning with the state’s strategy to diversify tourism offerings and build resilience into the visitor economy. “Our goal is to enhance biodiversity, foster community connection, and drive long-term tourism growth for the Gold Coast and beyond,” Yong said. If approved, the Dreamworld mini-city could redefine the northern Gold Coast’s role in housing provision—and change how Australia thinks about its theme parks.

Inside Dreamworld’s Plans to Turn a Theme Park into a City

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