Queensland development presents investment opportunities
Far north Queensland is earmarked for a major revamp after a $1.4 billion tourism development was ...
Far north Queensland is earmarked for a major revamp after a $1.4 billion tourism development was granted approval this week.
Welcoming the project's approval yesterday (November 20), state premier Campbell Newman said the Ella Bay integrated tourism and residential community development is the largest of its kind to ever get off the ground in Queensland.
Comprising three resort and four residential precincts, a golf course, education and research facilities, a retail village and 450 hectare cattle property, the project is likely to attract commercial property investment, with the area to become one of the state's high-growth regions.
The development presents a number of retail and residential real estate opportunities, with the tourism part boasting 860 units and villas, while the housing component will include 540 dwellings.
Mr Newman said the tourism project is a major boon for the local economy.
"A project of this magnitude, catering for tourists as well as permanent residents, will be a wonderful economic boost for the community, both locally and further afield," he remarked.
"Over a 15-year construction period, the developer expects to employ a peak workforce of just over 400 in year eight and, once completed, create more than 800 full-time operational jobs, as well as 240 part-time peak-season jobs."