JLL, Golf Giant Norman Seek Investors for Australia’s $2B Reef Island Development
- May 13, 2014
Global golfing giant Greg Norman is spearheading a worldwide search for investors to capitalize on a $2 billion tourism project on Great Keppel Island, off central Queensland’s coast.
The largest development approval ever secured in the world heritage area includes an 18-hole 8-hole championship golf course designed by Norman, as well as 700 villas, 350 luxury apartments, a beachfront hotel, marina, airstrip and a retail village. A casino is also in the plans to be built on the property.
Along with Norman’s Great White Shark Enterprises, global agents at JLL are sourcing international investors, and investment bank Moelis & co. is the lead financial advisor on the project.
These groups are collaborating to encourage investors to buy into the project that is called the largest and possibly last of its kind on the world heritage listed Great Barrier Reef, according to a JLL release.
Great Keppel is one of the Reef’s most accessible islands, a 50-minute fkight from the Queensland capital Brisbane. The integrated resort development has government approval. The island includes 17 white beaches, a tropical reef climate and natural habitat in a marine park.
“The realization of the potential for five-star facilities on the Great Barrier Reef is unquestionable and this investment opportunity has many attractive features, not least its position in one of the world’s most pristine locations in a country that has considerable growth projections for tourism in the region,” said JLL CEO Australia Stephen Conry in the news release.