Gold Coast Casino Resort to Feature Five Towers and Marine Parking

The Gold Coast Integrated Resort will feature up to five high-rise towers and a marine parking for jet ski among many other amenities, developer ASF Consortium has revealed to local media.

The A$3-billion complex, dubbed Gold Coast’s largest development project in recent history, is planned to be located on a five-hectare site on Gold Coast’s Southport Spit, right next to the Sea World marine animal park.

Revealing a bit more details about the property, the Chinese-backed developer has said that it would include two soaring towers of 40 and 45 stories that would feature hotel rooms; two more towers of between 20 and 27 stories that would be intended for residential purposes; and a 20-floor five-star hotel tower.

When completed and operational, the complex will also deliver public open spaces for visitors, including rooftop gardens, a waterfront square, a canopy skywalk, and many more. Guests that arrive by jet ski, boat, or kayak will be welcomed at a marine parking.

However, the developer will first have to overcome one particular hurdle in order to be able to execute its plan. Under an existing height limit, buildings in the area cannot be higher than three floors. ASF Consortium is hopeful that it will be able to deal with the obstacle, particularly given the fact hat it is set to deliver a “truly iconic” property that will attract more international tourists to the Gold Coast and Australia as a whole.

Among many other facilities, the Gold Coast Integrated Resort will also feature a casino with VIP tables to target big-spending high roller players from the Asia-Pacific region. It has been reported that the gaming portion of the complex would be managed by local casino operator Crown Resorts, but nothing has been confirmed so far.

Reports emerged earlier this week that the developer was yet to secure financing for its casino resort. Half-yearly accounts filed with the Australian Securities Exchange showed that ASF Consortium parent company ASF Group had lost A$92 million of the amount of A$102 million raised from financial backers.

That information raised questions about the viability of the A$3-billion project. Residents of the area expressed concerns about the future of the integrated resort, reminding of previous cases of developers abandoning projects halfway through.

ASF Consortium responded to the concerns voiced with a statement saying that it was the consortium itself and not its parent company that would deliver the major project. It also pointed out that it was comprised of companies with a balance sheet of over $80 billion, which would allow it to develop the resort on its own.

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