The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
25 DAYS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
25 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterTue 06 Aug 13

Qld Government fast tracks Chinese billionaire's $4.2b Aquis resort

A

The Newman Government last week declared Chinese billionaire Tony Fung's Aquis Great Barrier Reef Resort a “coordinated project”, giving it a streamlined approval process to be overseen by the Coordinator General’s office.

The $4.2 billion project would include nine luxury hotels, a sports stadium, aquarium, high-end retail outlets, a convention and exhibition centre and a championship golf course.

Located 3km south of residential area Yorkeys Knob and 13km north of Cairns CBD, Aquis Resort is expected to increase overall visitation to Australia and, in particular, the tourist-dependent North Queensland.

Proposed plans for the project will transform the existing open rural land into a tourist destination comprising 3,750 hotel rooms configured within nine luxury hotel brands, 1,200 centrally managed apartments and 135 centrally managed villas.

It also proposes a Convention and Exhibition centre, two 2,500-seat theatre, 18-hole golf course, 25,000 seating sports stadium and 13,500sqm of high-end retail shopping, restaurants, bars and food and beverage outlets.

A 13ha reef lagoon, one of the world’s biggest aquariums and a 13ha Water Park are also proposed.

The mega-complex is to be built with little scope for impact on the nearby Great Barrier Reef.

Aquis Resort at The Great Barrier Reef Pty Ltd (AaGBR) is wholly and solely owned by Mr Tony Fung a Hong Kong-based banking and property tycoon. Mr Fung is a long-term investor in Queensland.

"What North Queensland is missing is the man-made wonder of the world,'' said the Initial Advice Statement to the Queensland Government.

The Aquis project is believe to rival the great man-made structures in Macau, Dubai and Singapore and aims to increase domestic and international tourism to North Queensland.

Recent Tourism Research Australia figures show that Australia received 5.7 million overseas visitors in the 12 months to March 31, who spent more than $19 billion. However, only 691,000 visited North Queensland, spending $877 million.

According to Aquis Resort’s Initial Advice Statement, “Facilities of the like of Aquis Resort at The Great Barrier Reef don’t only attract the Chinese mass market middle class, but also the big spending, high value, ever expanding Chinese upper class.”

The project is set to tap into various markets including weddings, domestic conferences, conventions and other business and event-based occasions.

“The need to travel away to see world class acts and exhibitions will be all but negated. Aquis is the unique facility that the local North Queensland community needs and deserves for its social enrichment,” the submission stated.

While Aquis is a "mega resort" project the proposed casino is only slightly bigger (in terms of tables and machines) than Crown Melbourne. Aquis is seeking approvals for about 750 tables and 1500 poker machines.

"It is accepted that the casino operator at Aquis must pass probity and all other licencing assessment processes, and that a licence will only be granted to a particular operator after a rigorous assessment process,'' the submission said.

According to a KPMG report, Aquis will create 16,600 jobs at peak construction (9,300 direct and 7,300 indirect) and 26,700 jobs when fully operational (10,000 direct and 16,700 indirect).

Under approvals, building on the 750-acre beachside site would start mid-2014 and be completed by 2018.

HotelAustraliaSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
View All >
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
ESR building ESR completes delisting
Industrial

ESR Reveals New Team After Hong Kong Delisting

Leon Della Bosca
Going private means plans to focus on logistics and data centres across the Asia-Pacific region can accelerate, ESR says…
LATEST
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
2 Min
ESR building ESR completes delisting
Industrial

ESR Reveals New Team After Hong Kong Delisting

Leon Della Bosca
3 Min
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

Renee McKeown
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/qld-government-fast-tracks-chinese-bilionaires-4-2b-aquis-resort