UAE’s Al Najibi to build $296m resort in Australia
Hospitality project in Queensland to feature waterpark, Olympic-standard training centre and four-star hotel
The UAE-based Al Najibi Group has announced it will build a $296.7 million hospitality themed project in Queensland, Australia.
Set to feature a waterpark, Olympic-standard training centre, a four-star hotel and a conference and exhibition centre, the Sunshine Coast project is expected to be a family-friendly experience, said Talal Y Najibi, executive chairman of the group.
“We feel this is the right time to invest in Australia,” he said. “The Sunshine Coast, Queensland is rife with opportunities, and we are confident that this project will be extremely successful.”
The project will contain restaurants and retail outlets, Najibi added, but said that further details about the development would be released later this year. Construction is expected to start in 2017.
The project is expected to inject $45 million into the regional economy for each year of construction – totalling $195 million during the entire phase. Once completed, it is expected to add $22.49 million per annum.
“Influenced by major action sports projects, water parks and entertainment hubs in Dubai, it will serve up a memorable, family-friendly experience to both locals as well as tourists,” said Bradley Sutherland, chief executive of Sanad Capital, the investment and development company set up by Najibi.
According to an economic benefits and analysis report generated by Sanad Capital, the venture will generate 2,000 direct and indirect jobs during the construction phase, with a further $21.7 million generated in annual salaries and wages post-completion.
