Asia is home to some of the world’s largest, most popular theme and water parks, that each year draw in millions of tourists from around the world and heavily boost their respective local and regional economies. Dubai-based business conglomerate, Najibi Group, which recently opened the doors to its new investment and development company, Sanad Capital, in Australia, has just announced its very first venture on the nation’s Sunshine Coast – an AUD 400-million ‘active lifestyle’ destination, inspired by Asia’s high-profile tourist hotspots.
“The development is set to become an unparalleled, unprecedented tourist hub. Influenced by major action sports projects, water parks and entertainment hubs across Asia, it will serve up a memorable, family-friendly experience to locals as well as tourists,” says Sanad Capital’s chief executive Bradley P. Sutherland.
The tourist attraction will also bolster the local economy: as per an economic benefits and analysis report produced by Brisbane-based economic consultancy and market research firm Urban Economics earlier this year, the new venture will generate 2000 direct and indirect jobs during its construction phase, and will generate a further AUD 29 million annually in salaries and wages post completion.
The report further notes that the project will inject AUD 60 million into the region’s economy for each year of construction – totaling AUD 260 million during construction – and upon completion it will add AUD 30 million per annum thereafter.
Talal Y. Najibi, Executive Chairman of Najibi, says this project heavily complements the group’s overall objectives. “This project marks a major milestone in Najibi’s strategy to diversify its interests and investments. We feel this is the right time to invest in Australia. The Sunshine Coast is rife with opportunities, and we are confident that this project will be extremely successful.”
The Sunshine Coast project will comprise a world’s first ‘Wave Reservoir’, a world-class waterpark – the first of its kind in Australia – and water sports facilities, a sports centre, an events area, a hotel, a function centre, restaurants and retail outlets. Further details on the development will be released later this year and construction is set to begin in 2017.