Investment savvy run to paradise
Construction infrastructure jobs and demand destined for the Gold Coast
View of Miami to Surfers Paradise, what’s not to love!
The Gold Coast property market has seen a steady turn around over the past two years, with property sales of houses and apartments increasing by 11 per cent and 39 per cent respectively.
$1 billion dollar Jewel
The lavish triple-towered project, designed to look like crystal jewels on the Gold Coast horizon, is set to add a new glimmer to the local economy ahead of the Commonwealth Games in 2018, bolstering tourism and attracting a fresh wave of investors and clientele from overseas.
The iconic Jewel development.
Domain’s Senior economist Dr Andrew Wilson says such developments are positive for the local economy and it comes as no surprise that the popular haunt for surfers and tourists is seeing such growth.
Surfer’s Paradise will be home to one of Australia’s largest residential and hotel developments by 2018. As part of a $1 billion one billion dollar joint venture between China’s Dalian Wanda Group and Ridong Group, Jewel will be the first five-star beachfront residential resort on the Gold Coast in more than 30 years, offering premium accommodation, dining, retail, and recreational experiences.
“The Gold Coast has been one of the fastest-growing housing markets in South East Queensland over the past year,” he says.
Wanda Ridong sales and marketing director Andrew Bampton says the development will create about 2500 jobs, which is welcome news as the Gold Coast continues to have one of the lowest regional unemployment rates.
“We’ve chosen the Gold Coast’s iconic shoreline as one of the most lucrative hot spots for capital growth in the coming years,” says Mr Bampton. “It’s been a long seven years for the industry, however, tourists and savvy property buyers are now turning their sights to Surfers Paradise once again.”
Council Supports Local Industry with 75% Local Procurement
Gold Coast City Council now has 75% local procurement
“When I was first elected back in April 2012, Council’s local procurement was under 50%. My commitment to the city was to refocus Council’s procurement of products and services onto local companies employing local residents. My target was for the city to reach the 70% mark…” “We changed the procurement rules in early 2013 which resulted in a lift of over 10% of purchases going to locals. This meant another $35M going directly back into our Gold Coast Economy. We’ve tweaked ‘Buy Local’ procurement a few more times since.” “The great news is that the local procurement by Council has crashed through the 75% barrier as at June 2015. This means well over $60m extra has been spent by Council locally since the Local procurement changes were made.” Mayor Tom Tate,
‘No other comparably scaled city in Australia can credibly claim to double in size over the next 35 years and yet that is precisely the promise of the Gold Coast’, Australian Demographer, Bernard Salt.
Check out 12 Major Developments on the Gold Coast Horizon by Clicking HERE.
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