Dubai-based Syrian billionaire Ghassan Aboud plans to invest $100 million into a new hotel and residences at Port Douglas after snapping up the Reef Marina at the northern Queensland destination.
The investment - through Crystalbrook Collection, the hospitality arm in Australia of Mr Aboud's GA Group - will be the fourth development in Queensland for the group.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
