HONG Kong-based Far East Consortium (FEC), controlled by businessman Tan Sri David Chiu, has started a A$400 million (RM1.21 billion) project at The Star Gold Coast resort development on Broadbeach Island in Australia.
FEC, which started operation in Australia in the mid-1990s, is developing a 53-storey hotel and apartment tower through Destination Gold Coast Consortium (DGCC) — a joint venture (JV) between FEC, The Star Entertainment Group and Hong Kong-based Chow Tai Fook Enterprises.
The project will herald the entry of the Dorsett hotel brand into Australia and it is slated to open for business in early 2022. The 316-room Dorsett Hotel will take the tower’s lower levels, while 423 apartments ranging from 54 to 109 sq m, known as Star Residences, will occupy the upper levels.
The one-bedroom apartment units are priced from A$467,000, while the two-bedroom units start from A$668,500. The 4.5-star hotel will be among an elite group of hotels on the coast with more than 300 rooms and the second biggest in the Broadbeach region behind only The Star Grand.
Dorsett Hotel International (DHI) vice-chairman Datin Jasmine Abdullah Heng said the recent ground-breaking ceremony for Dorsett Hotel in Gold Coast wasaproud moment for the hotelier.
“The Gold Coast is an attractive tourist destination with its beautiful beaches and surfing spots, exciting theme parks, vibrant nightlife, great dining and shopping experiences. We see its enormous potential and cannot wait to offer a whole new level of sophistication, service and style to future guests.
“We are one of Asia’s fastest growing hotel groups and our strategy is to target China’s fast-growing affluent middle-class market, offering memorable experience at great value and the highest levels of hospitality,” said Heng.
The introduction of Dorsett Hotel on Broadbeach Island will bring with it increased awareness in the global market, especially in Asia, where DHI owns and operates the majority of its 54 hotels.
The hotel and apartment project is the second development for the JV partners in southeast Queensland, following its historic endorsement by the Queensland government to transform Queen’s Wharf Brisbane with a US$3 billion (RM12.4 billion) integrated resort and residential development.
The JV company is also involved in a mega project in Sydney and has acquired the Sheraton Grand Mirage beachfront resort on the Gold Coast.
The Star Entertainment Group chairman John O’Neill said: “Together with our partners we have, in progress or planning, projects that will see our investment across Brisbane and the Gold Coast exceed US$4.5 billion.
“We are delighted to further enhance the tourism appeal of the Gold Coast and southeast Queensland with this latest joint-venture development,” said O’Neill at the groundbreaking for the hotel and apartment tower.
Australia’s largest privately-owned construction company, Hutchinson Builders, was named recently as the preferred contractor for the tower development.