Leading developer William O’Dwyer backs Gold Coast’s future with $1.4 billion Ruby towers
IF you’re worried about a post-Commonwealth Games ‘hangover’, the man behind the Gold Coast’s new integrated resort says he’s confident in the city’s future. So much so he’s investing $1.4 billion.
Gold Coast
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THE man behind a $1.4 billion, four-tower Surfers Paradise integrated resort says the Gold Coast and its tourism industry will become the nation’s big success story of the next decade.
Developer William O’Dwyer yesterday toured the construction site of the first stage of his Ruby project and vowed to stick with the city “for the long haul.
“I’m a Sydneysider but I love the Gold Coast because it is a very exciting part of Australia and it is a destination all Australians and international visitors adore,’ he said, praising the city’s council, transport infrastructure and universities.
“The new infrastructure being built on the Gold Coast bones so well for the future that I would go so far as to say that the Gold Coast and tourism are the iron ore story of the next 10-15 years in Australia.”
About 10 storeys have been completed on the first Ruby tower out of a total 30 levels.
The five-star hotel and residential tower, which is completely sold out, will feature 230 units and 13 ground-level villas.
Construction of the remaining three towers will begin in late 2018 when the existing Paradise Resort will be demolished.
The Ruby resort, named for Mr O’Dwyer’s youngest daughter, will be completed in 2022 and will be followed by Ralan’s second Gold Coast project, Sapphire.
Sapphire, a two-tower, six-star project, will be built on a site neighbouring the first resort.
Mr O’Dwyer spent $94 million to buy the resort.
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