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Gold Coast Map

PLANS for a three-tower luxury residential development worth $900 million have been revealed for a prominent patch of the Gold Coast.

PLANS for a three-tower luxury residential development worth $900 million have been revealed for a prominent patch of the Gold Coast.

It will be the first Queensland project for RDG, a wholly owned Gold Coast-based company whose parent company is China-based Ridong.

It paid more than $80 million for the 1.13ha beachfront parcel at Surfers Paradise, known as the Pacific Beach site, in 2009.

Chief executive Steven Haggart, who was in Brisbane yesterday to brief State Government ministers on the project, said the company already had been in talks with Gold Coast City Council about their plans and hoped to soon lodge a development application.

International architects were invited to submit proposals for the project and Oppenheim Architecture + Design, of Miami in the US, had been selected.

“They will work with DBI (Design) locally on the Gold Coast to carry the project forward,” Mr Haggart said.

The buildings have been designed with a “crystal” theme, which has been influenced by Mt Warning in the Gold Coast hinterland.

Mr Haggart said Mt Warning was an ancient shield volcano, so the design incorporated the look of shards or crystals to link to that history.

The development will feature three towers, the tallest to be about 45 levels.

It will house a 5½-star to six-star hotel with about 150 rooms and 130 serviced apartments. The two remaining towers will collectively house about 380 luxury apartments.

All towers will sit on top of a podium level that will have a variety of facilities, including a restaurant, fitness club and spa.

“It is intended to be a destination,” Mr Haggart said.

The site is half-way between Surfers Paradise and Broadbeach. Mr Haggart said this gave them an opportunity to create something that could stand separately from those hubs.

“It is an opportunity to create a new international market on that end of the Gold Coast,” Mr Haggart said.

He believes about 15 per cent of buyers will be local or from Brisbane, about 25 per cent from Sydney and Melbourne and the balance international.

The company hopes to receive a development approval by the end of the year and then start marketing about nine months after that.

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