Chinese-backed ASF Consortium pledged to contribute up to A$100 million to support the Queensland government’s efforts to solve Gold Coast traffic issues, if its A$3-billion integrated casino resort proposal is given the green light.
The group of Chinese investors plans to build its complex at the Gold Coast’s Southport Spit. It released earlier this week first renderings and details about the multi-billion development. The ASF Consortium has previously made it known that it will be working together with major Australian casino developer and operator Crown Resorts.
According to initial plans, Gold Coast Integrated Resort will occupy five hectares of Crown Resorts-owned land and will include five multi-story, multi-purpose towers and an additional residential tower, three hotels, five- and six-star ones, a retail area, a spa, multiple entertainment and food and beverage facilities, and a casino. The complex is aimed at responding to the growing presence of tourists from China, known to be big spenders when it comes to gambling and high-end entertainment offering.
The ASF Consortium had previously proposed to build an integrated resort on Waverbreak Island but that plan was scrapped after being frowned upon by environmentalists and Queensland officials. Last year, the state government greenlit the Southport Spit project instead.
The initial renderings and details about the resort have been submitted to Queensland officials and a public consultation is expected to be launched in January 2017, together with more information about the plan. It is believed that a final decision on the project’s future will be made by the end of that year. If given the nod, the ASF Consortium said that it hoped construction work would begin in mid-2018, right after the Commonwealth Games.
Traffic concerns are usually among the first to be voiced when a project of such a large scale is proposed. And the Chinese group of developers did not escape being addressed with such concerns. As mentioned above, the ASF Consortium is ready to financially back traffic improvements in the region, including a light rail, a tourist ferry, a new Jubilee Bridge, and more.
The integrated resort developer said that it would invest up to A$100 million in such improvements, paying for all “core” traffic infrastructure. Officials from the Queensland Department of State Development have been informed about the ASF Consortium’s plan and are yet to discuss and announce their opinion on the matter.
If the Chinese investors and Crown Resorts build their resort in Queensland, it will come as a direct competitor to The Star Entertainment Group, the other major Australian casino operator. The Star is to develop a luxury integrated resort in Brisbane’s Queen’s Wharf precinct. The company also currently manages the Jupiters Gold Coast hotel and casino complex, which is undergoing a multi-million-dollar upgrade.