Tall & Urban News

Construction giant Multiplex has been awarded the massive development’s construction contract, estimated to be worth up to AU$1.5 billion (US$1.06 billion). At least 60 percent of the project cost will be executed under the construction contract. In its half yearly results, Star Entertainment Group said it was targeting a total AU$2.4 billion (US$1.7 billion) project cost.

Development of the integrated resort component of Queen’s Wharf will include five levels of basement car park, the tower structures, the sky deck and the façade of the main integrated resort. The project will include approximately 370,000 square meters of floor area and 105,000 square meters of energy efficient glazed façade,” Destination Brisbane Consortium project director Simon Crooks said.

Multiplex will deliver the shell and core works covering the basement, base services, tower structures and the façade of the main integrated resort.

The project is being developed by the Destination Brisbane Consortium, a joint venture led by casino giant Star Entertainment Group, with Far East Consortium and Chow Tai Fook Enterprises. Star holds a 50 percent equity share in the project, while its Hong Kong-based partners each hold a 25 percent interest.

When complete, Queen’s Wharf Brisbane will deliver four new hotels, more than 50 bars and restaurants, 2,000 residential apartments and the equivalent of 12 football fields of public space. It will cover a massive 27.3 hectares — about 20 percent — of Brisbane’s CBD.

Multiplex, which halted work on the Collins Arch project earlier this month, delivered Cbus Property’s “tower of power” on William Street and the Brisbane Quarter. Major Queensland projects still under construction for the building giant include the residential component of Brisbane Quarter and Yuhu Group’s triple-tower Jewel development on the Gold Coast.

Crooks said that the contract remained subject to board approval and state government endorsement. “The next step will be the public confirmation of the contract signing after the state government has completed its review process.”

Construction works are expected to reach George Street level by late-2020.

For more on this story go to The Urban Developer.