Australia-listed Star Entertainment Group has confirmed it will be further boosting its investment of its Gold Coast property with a new 200 meter tower, local media reports.
The Star made the announcement in the Gold Coast yesterday alongside Queensland premier Annastacia Palaszczuk.
“We are very confident in the long-term tourism prospects of Australia,” said The Star chief executive Matt Bekier, quoted by The Australian.
“If you look at the outbound tourism trends, that gives us a lot of confidence. We have the right partners, who don’t just have capital but the right tourism credentials (as well).”
The new proposed tower, the first of five potential new towers, would feature a 4.5 star hotel and 700 rooms.
Construction of the new tower could start in 2017, located on the ocean side of the property.
The new plan will include The Star’s Hong Kong-based partners Chow Tai Fook Enterprises and Far East Consortium.
“We want to develop as much as we can with partners so we get a capital light investment,” Bekier said.