Australia’s first Waldorf Astoria is taking shape rapidly in a prime position on Sydney’s Circular Quay, courtesy of iron ore billionaires Andrew and Nicola Forrest and their expanding interest in real estate.

The structure of the 26-storey building was completed, or “topped out”, this month with the focus now on the interior fit-out of the luxury hotel, along with the installation of the facade, a mix of sandstone, green walls and glass designed by Kengo Kuma & Associates and Crone Architects.