And while developers and construction companies are tightening their belts – some even going bust – there remains vibrant interest in the Gold Coast.
For example, Marquee Development Partners is reshaping the look and feel of the Gold Coast with a pipeline of ‘sold out’ luxury residential projects currently under construction from Kirra to Surfers Paradise.
Marquee is tackling the region’s apartment shortfall, achieving $300 million in off-the-plan sales in the last 18 months for five luxury projects, all with cranes on site. Marquee’s total investment on the Gold Coast is a half a billion dollars.
The projects include SOL Kirra Beach, Northshore Palm Beach, Palm Beach Residences and the Broadbeach-Surfers Paradise developments One Cannes and Shoreline. Marquee is filling a much needed gap in the Gold Coast market which had become saturated with short term accommodation and Airbnb style tenancies.
Marquee have also just launched their 10th project on the Gold Coast, Monterey, on the beachfront at Kirra. Positioned on one of the last remaining beachfront sites, Monterey will be their most prestigious development to-date, offering ultra-wide residences and penthouses with uninterrupted ocean views from Snapper Rocks to Surfers Paradise. Marquee is one of a number of new developers investing heavily in the Gold Coast.