Brookfield Multiplex, an Australia-based contracting and development company, has signed an AUD1bn ($756m) construction contract with Chinese property developer Dalian Wanda and its partner Ridong Group to build a Jewel hotel and apartment complex on Australia’s Gold Coast.
The three-tower construction project will house more than 500 residential apartments, basement parking, a 169-room five-star hotel and high-end retail and dining precincts.
The Jewel project is slated to be opened in early 2019.
During construction phase, the Jewel complex is set to create more than 2,700 jobs and another 500 post-construction jobs for ongoing operations and maintenance.
Queensland Acting Premier Jackie Trad said: “Once opened in early 2019, the Jewel will be Australia’s largest hotel and residential complex, and such a significant investment from China’s private sector shows the value the international market places on this booming tourism hub right here in Queensland.