A new AU$4.9 billion development project has been earmarked for the Gold Coast, with the scheme garnering considerable support to date.
Australian Property Investor reports the new Southport Broadwater Wavebreak proposal is the largest single project to be mooted for Australia's eastern seaboard at present and will involve the creation of a new marina precinct and other tourism facilities over the coming years.
Set to become the Gold Coast's most significant tourism project in decades, the scheme has received considerable support in recent weeks, including the publication of an online survey highlighting how 76.5 per cent of respondents are in favour of the development.
The construction of the new Wavebreak scheme will be carried out by developer Sembawang of Singapore and has already garnered considerable interest at the firm's website, with more than 52,000 hits.
Elsewhere, the Property Council of Australia revealed earlier this month that investment in the Australian office sector has been extremely positive so far in 2012, with AU$2.4 billion having been invested since the start of the year.
Posted by Craig Francis
