Brookfield Multiplex Builds $111M M-F Tower in Australia
- Apr 24, 2014
Brookfield Multiplex has secured the building contract for a $111 million (AUD 120 million) residential high-rise in Surfers Paradise, Australia. The project is being developed by Ho Bee Land Ltd., a Singapore-headquartered real estate development and investment company and marks the Ho Bee Land’s first foray into the Australian market. Project architect is DBI Design.
Located at the corner of Surfers Paradise Boulevard and Main Beach Parade, on the site of a former Red Rooster restaurant, the 41-story development will be the first residential high-rise to be constructed in Surfers Paradise in two years. The 223-unit apartment project commenced early work in late 2013 and is expected to complete in late 2015. It will feature a leaf-shaped design and amenities such as a gym, roof-top garden and street-level retail space.
“Ho Bee Land’s unique building will revitalize the Gold Coast’s residential property market by providing new, high-quality apartments that meet the highest standards of sustainability and design,” said Brookfield Multiplex Regional Managing Director for Queensland, Rod McDonald.
The development comes as an answer to increasing demands for residential properties on the Gold Coast and Queensland in general. It is expected to have a significant economic impact in the area, creating 500 new jobs, of which 230 will be onsite construction jobs.
According to Architecture & Design, the high-rise will be named Rhapsody Surfers North and will target a five star, Green Star rating. This rating will be achieved via a number of sustainable features such as a green roof consisting of formal landscaped gardens and community gardening space. Other amenities reported by Architecture & Design include an executive lounge, pool and barbeque area.