Soheil Abedian: Leading Gold Coast developer unveils Mary Ave tower in Broadbeach

Leading developer Soheil Abedian is ramping up his pipeline of projects, unveiling plans for a 45-storey tower next to one of the Gold Coast’s best-known primary schools.

Leading developer Soheil Abedian is ramping up his pipeline of projects, unveiling plans for a 45-storey tower in the heart of Broadbeach.

The Sunland co-founder, via his private company Abedian and Co, has lodged plans with the council for the 115-unit luxury high-rise, which is earmarked for a 2024sq m site on Mary Ave which borders Broadbeach State School.

Mr Abedian said the $570m project was “next level” from his under-construction Mermaid Beach project Peerless.

Artist impression of a 45-storey tower planned for Mary Avenue, Broadbeach by Abedian and Co, headed by Soheil Abedian. Picture: Supplied

He said it brought the Abedian family’s current development portfolio to more than $2.3bn.

“Mary Ave will go to another level from what we have seen with Peerless and it will have two levels of facilities beyond anything the Coast has seen in Broadbeach,” he said.

“We are hoping to get the green light in mid-2025 and we have around $2.3bn in projects on our books right now, so we anticipate at least one new project to begin construction each year going forward.

“Abedian and Co, as a private company, allows us the freedom to manage our portfolio the way we believe will benefit the market and the buyers we have.”

Abedian and Co amalgamated two sites for the project after buying them from Bassar Group and Little Projects, both of which had planned their own towers.

Soheil Abedian Picture by Richard Gosling

Bassar had planned Eternity, a 35-storey unit complex, which it had secured more than $100m in sales on before abandoning it, while Little Projects had approval for a 19-storey building.

Construction is underway on Abedian and Co’s 36-level Peerless tower in Mermaid Beach while planning continues on a 35-storey tower on Broadbeach’s Ann Ave on a site he bought from fellow developer Jim Raptis.

Meanwhile, Sabha Abedian’s Arium Group earlier this month unveiled the two-tower third stage of the Greenmount Residences project which will transform the site overlooking the Gold Coast’s hottest surf spot.

Construction will begin in 2026. Picture: Supplied

The two eight-level towers will have 22 and 23 units respectively, with a mixture of two and three-bedroom luxury apartments.

It came just days after it also received a green light from the Gold Coast City Council’s planning committee to build its second stage of the resort – a pair of 14-storey towers which will have 61 units.

Mr Abedian, the man who built Q1 and Palazzo Versace and has been developing on the Gold Coast for more than 40 years, said he expected record-breaking interest in the local market to continue.

The tower will sit next to Broadbeach State School Picture: Supplied

“Since Covid we have more than 15,000 people coming here yearly and adding to our base population and that means we need a massive number of dwellings and that has pushed up prices,” he said.

“Without a doubt that will continue but in the past few months there has been a slight slowdown in inquiries while there has been nothing at all of prices going down.

“I see that as a very healthy sign of the sector because we cannot always expect things will go higher and higher.”

Originally published as Soheil Abedian: Leading Gold Coast developer unveils Mary Ave tower in Broadbeach