Syrian billionaire Ghassan Aboud sells Crystalbrook and Silkwood stations

The Crystalbrook Hotels owner will focus on luxury hospitality after selling two significant Far North cattle properties to Queensland graziers for a tidy sum.

Crystalbrook Hotels owner, Dubai-based Syrian billionaire Ghassan Aboud, has sold his two Far North Queensland cattle properties.

Both were sold to Queensland grazier families, for a combined $21m.

The 33,900ha Crystalbrook Station sold on a walk-in, walk-out basis for $14m and the 431ha property Silkwood sold for $7m.

Owner of Crystalbrook Collection Ghassan Aboud with his wife Nahed Nebhan at Crystalbrook Flynn on the Cairns Esplanade. Picture: Brendan Radke

Chillagoe graziers Rex and Penny McClymont, who own Bolwarra Station in Chillagoe, bought Crystalbrook Station.

Georgetown beef producers Darren and Melissa Pedracini bought Silkwood.

The properties were offered for auction last June but passed in well short of reserve.

Crystalbrook has a luxury home catering for 10 with a pool overlooking a 120ha lake stocked with barramundi.

The 33,900ha Crystalbrook Station, near Chillagoe, has been sold by Syrian billionaire Ghassan Aboud, who will continue to expand his hospitality portfolio. Picture: Supplied

Port Douglas property tycoon John Morris previously owned Crystalbrook Station and had plans for it to become a luxury outback tourism venture, and Mr Aboud revitalised those plans in 2020, but did not go full steam ahead.

Silkwood Station is a cattle finishing property near Innisfail.

The 33,900ha Crystalbrook Station, near Chillagoe, has been sold by Syrian billionaire Ghassan Aboud, who will continue to expand his hospitality portfolio. Picture: Supplied

As well as Crystalbrook Riley, Bailey and Flynn in Cairns – a $800m investment by Mr Aboud that has paid dividends with the distinctive hotels enjoying high occupancy rates – the portfolio includes Crystalbrook Vincent in Brisbane, Crystalbrook Byron, Crystalbrook Kingsley at Newcastle and Crystalbrook Albion in Sydney.

Mr Aboud bought Silkwood and Mena Vale Station on the Cassowary Coast in 2018.

The 33,900ha Crystalbrook Station, near Chillagoe, has been sold by Syrian billionaire Ghassan Aboud, who will continue to expand his hospitality portfolio. Picture: Supplied

Crystalbrook’s motto is “travel with a lighter footprint” and it is committed to responsible luxury with initiatives such as operating a single use plastic free environment, sourcing at least 80 per cent of produce from within a three-hour drive of each hotel and use of recycled materials.

The business has planned a $250m redevelopment of Port Douglas’ marina with the hope to establish a resort.

Originally published as Syrian billionaire Ghassan Aboud sells Crystalbrook and Silkwood stations