A VISITING big cheese from the Chinese developer of the Gold Coast’s billion-dollar Jewel project is lauding the city’s investment potential and eyeing future sites.
Wanda Commercial Properties vice president Chen Guocai, speaking exclusively to the Gold Coast Bulletin yesterday, confirmed the two major Chinese companies behind Jewel continued to scout for more opportunities on the Gold Coast.
Wanda is partnered with China-based Ridong to form Jewel developer Wanda Ridong Group — and Mr Chen said more joint local projects were possible.
“Any future project here will still be with Ridong Group.”
Wanda has previously flagged its interest in developing a major new theme park on the Coast and Mr Chen confirmed it remained on the radar: “We are still doing our internal study (on a theme park) so it is still on the screen.”
Mr Chen said he saw the city as one of the world’s best places for investment: “Yes, yes, I think so — it is a great place for Chinese tourists to come and it is good for Chinese business entities to set up so it has great potential.”
Mr Chen was on the Gold Coast with a Beijing delegation to officially sign Wanda Ridong’s Jewel construction deal with Brookfield Multiplex.
The milestone deal for the ambitious three-tower beachfront project brought together the world’s largest property developer and Australia’s biggest builder to create “Australian architecture history”, he said.
The signing ceremony at Palazzo Versace was attended by Acting Premier Jackie Trad who called Jewel a “billion dollar vote of confidence” in the Coast.
Tourism Minister Kate Jones said it would strengthen the city’s high-end tourism offering and Jewel would rival destinations icons such as Dubai’s Burj Al Arab tower.
Jewel sales director Lucas Wilson said of one, two and three bedroom apartments available in stage one last year, 124 of 130 were “secured” and now off the market.
That included a top-floor three-bedroom 280 square metre penthouse sold to a Sydney-based Australian for just under $5 million.
Another 100-plus units from 41-floor Tower One would come on the market within two to three months.
Mr Wilson said prices had started at $687,000 for one-bedroom units through to $2.9m for three-bedroom pads.
Prices would be “slightly higher” per square metre in the next release.
“We wanted to make sure we were supportive of people who have already bought. Prices are increasing as a vote of confidence in the market and our purchasers.”
Mr Wilson said Chinese buyers had snapped up 40 per cent while Australian and foreign buyers outside China bought the other 60 per cent.
Jewel’s construction, to be completed by 2019, is estimated to support 2700 local jobs with another 500 post-build for operations and maintenance.
The three towers comprise 512 residential suites, a 169-room five-star hotel and 816 car spaces.
Originally Published On: http://www.goldcoastbulletin.com.au/