James Packer's Crown Resorts Limited has joined forces with a subsidiary of the international Chinese diversified property group, Greenland Holdings Group, to prepare a detailed proposal to develop the Queen’s Wharf precinct in Brisbane.
Crown will combine its experience and expertise in developing and operating large scale luxury integrated resorts with Greenland’s vast commercial and residential property development experience to form a consortium.
If successful, Crown and Greenland will jointly develop a luxury integrated resort at the Queen’s Wharf precinct, including a six-star hotel and casino.
Crown will manage the integrated resort and will have an ownership interest in that part of the precinct.
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Greenland will be the exclusive developer and owner of the remaining commercial, retail and residential components of the Queen’s Wharf site.
“We are delighted to have formed this consortium with such a strong and experienced company as Greenland. Crown’s experience in designing, developing and operating luxury integrated resorts complements Greenland’s extensive property development experience in China and around the world," said Mr Rowen Craigie, Crown’s Chief Executive Officer.
"I have no doubt that this consortium has the track record and drive that can deliver for Brisbane an iconic tourist, entertainment and residential precinct that is recognised globally and embraced by the local community.”
“We are excited about this opportunity in working with Crown on this world class development. Crown, is an influential leader in developing and operating casinos and luxury hotels globally. Together with Greenland’s considerable expertise in delivering large urban complexes and residential landmarks we feel this international consortium can deliver a superior development for Queen’s Wharf," said Mr Sherwood Luo, Greenland’s Managing Director in Australia.