James Packer teams up with Chinese property developer for joint Queen’s Wharf Brisbane Project bid

James Packer’s Crown Resorts Limited will partner up with Chinese property developer, Greenland Holdings Group to jointly bid for the Queen’s Wharf Brisbane Project.

Crown will combine its experience in operating large scale luxury integrated resorts with Greenland’s vast property development experience to form a consortium.

They were two of the then four separate short listed contenders announced in late May for the Queensland government’s Queen’s Wharf Brisbane Project. 

In October last year the Queensland government decided a gaming licence would be available for the under-utilised nine hectare government-owned site adjacent to the north bank of the Brisbane River.

The three remaining shortlisted consortia will be required to lodge fully-developed proposals with the government in late 2014.

Crown’s chief executive officer, Rowen Craigie said he hoped they can deliver for Brisbane an iconic tourist, entertainment and residential precinct that is recognised globally and embraced by the local community.

Greenland’s managing director in Australia, Sherwood Luo, said they were excited about the possibility in working with Crown.

Greenland Holdings Group is a Shanghai-based Chinese-state owned enterprise.

It is a Fortune 500 corporation, ranking 268 in the 2014 rankings. Greenland has businesses in real estate, energy, finance, construction and automobiles and generated revenue of almost US$54 billion in 2013.

Greenland is already undertaking major residential and hotel developments in Sydney and Melbourne as well as a major integrated resort development in South Korea and numerous large scale residential, hotel and commercial developments in China, London, New York, Los Angeles and Malaysia.

Greenland is the major shareholder of the listed Hong Kong property development company, Greenland Hong Kong Holdings Limited. 

The four consortia initially shortlisted to develop a six-star multi-billion dollar integrated resort development were.

• Crown Resorts Ltd
• Echo Entertainment Group Ltd
• Far East Consortium/ Chow Tai Fook Enterprises Ltd
• Greenland Investment Pty Ltd.

A formal announcement regarding the successful developer and their development scheme is not expected until early 2015.

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