Echo Entertainment Group Limited announced that the Destination Brisbane Consortium has entered into development agreements with the Queensland Government for the delivery of the Queen’s Wharf Brisbane project.
Echo partnered with Hong Kong-based organisations Chow Tai Fook Enterprises and Far East Consortium (Australia) Pty Limited to form the DBC joint venture for the Queen’s Wharf Brisbane Project.
The parties have formed two joint venture vehicles, which together are responsible for completing the development of the Queen’s Wharf Brisbane Project.
“We are excited to have finalised and signed the development agreements with the Queensland Government to progress our vision to develop Queen’s Wharf Brisbane into a globally recognised Integrated Resort that competes with the best in Macau, Singapore and any other destinations worldwide,” Echo’s CEO Matt Bekier said.
“The redevelopment of Queen’s Wharf Brisbane has the potential to deliver significant and positive change for the people of Brisbane, the Queensland Government and DBC. Echo, along with its partners within DBC, looks forward to progressing the opportunity to deliver on the vision for Queen’s Wharf.”
The development of Queen’s Wharf Brisbane remains subject to the planning approvals process.
DBC’s proposal includes total investment of approximately A$3.0 billion that covers a range of tourism infrastructure and residential developments.