ASF Wavebreak Island project veteod by Queensland Government

ASF Wavebreak Island project veteod by Queensland Government
Jonathan ChancellorDecember 7, 2020

The Queensland State Government has vetoed a $7 billion casino resort and cruise ship terminal project planned for Wavebreak Island on the Gold Coast.

Industry data reveals up to 75 ships a year would be docking at a Gold Coast cruise ship terminal had it proceeded.

The concept design for ASF’s rejected cruise ship terminal at Wave Break Island was seen as the most viable option for the Gold Coast from a list of possibilities which included man-made harbours at The Spit and Bilinga.

However, the project did not have the backing of the new Labor Government.

Las Vegas-based casino and resort group Global Gaming Asset Management was set to be be the operator of the Chinese-backed ASF Consortium’s $7.5 billion project on the Gold Coast.

GGAM, founded by Bill Weidner, was set to team up with architect Paul Steelman’s Steelman Partners as the designer for ASF’s planned casino

GGAM has been involved with ­opening and managing more than 20 properties worldwide since 1999.

At a Property Council of Australia event, ASF's Alan Fife had indicated that five international hotels were proposed on Wavebreak Island

ASF Group is a Sino-Australian investment and trading house which focuses principally on the identification, incubation and realisation of opportunities in areas of synergy between China and Australia including resources, commodities trading and property sectors, alongside travel and financial services.

The overall project was not approved by the Newman government, following numerous knockbacks and resistance from community groups.

ASF envisaged to dredge The Spit and use the sand to build up Wavebreak Island.

Hong Kong-listed China Communications Construction Company and one of its subsidiaries, as well as the state-owned China State Construction Engineering Corporation, have provided a financial guarantee for the project.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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