Investment opportunities in Gold Coast tourism project
A multibillion-dollar tourism project earmarked for the Gold Coast is likely to attract the interest of developers and property investors, with the development presenting a number of commercial and residential opportunities.
On November 2, the Queensland government and Gold Coast City Council announced the private sector will be invited to tender for the project, which is expected to be the largest of its kind in the state's history.
The Broadwater Marine Project, which will also include the construction of a cruise ship terminal, will inject about $750 million in additional tourism revenue into the local economy.
Those looking for a residential real estate or commercial property investment in Queensland are likely to be interested in the development, which will include hotels, a casino, retail space and restaurants, entertainment and hospitality venues, as well as recreation facilities.
As the Gold Coast grows and the population increases, the region's real estate sector is set to become in-demand, meaning higher returns for property owners.
Gold Coast City mayor Tom Tate said the proposed project will help propel the region onto the tourism world stage.
"We will seek an impressive, one-of-a-kind draw card that will define our city and transform us into a truly global destination," Mr Tate said.
"We want to see an integrated attraction that will be globally renowned. We are Australia's premier tourism, business and events destination."