The top 12 developers to watch out for on the Gold Coast in 2024
The Gold Coast has been one of the surprise markets in 2023.
Following significant gains during the pandemic, the expectation was the Gold Coast apartment market would tail off significantly, as demand, particularly from the southern states, waned.
We've not seen any slowing down in demand, and with supply levels at significant lows due to the current construction constraints, the Gold Coast market has continued to outperform the rest of the country.
Over 2024, Gold Coast unit values, which incorporates both apartments and townhouses in the established space, have jumped 9.5 per cent, to take the new median unit price to $721,000.
Sales specifically in the off the plan apartment space also saw a spike as the year has gone on. Over 400 apartments were sold in Q3 2023 across the Gold Coast, primarily in areas like Broadbeach, Main Beach and Surfers Paradise. That was a huge jump from the 200 apartments sold in Q2, which suggests the momentum of sales is building and will be taken into 2024.
We've wrapped up the top 12 developers to look out for in the Gold Coast in 2024, those who are either completing projects, starting construction, or are preparing to launch a new one.
Developer SIERA
Projects: Pipis Bilinga; Tapestry Chevron Island, Enderley Avenue Surfers Paradise
It's been a busy year for Brent Thompson's Siera Property Group in 2023, and 2024 is set to be no different.
They've put the shovel in the ground of both of their Gold Coast developments, Tapestry on Chevron Island and Pipis in Bilinga, and hope to be completing both in 2025.
Thompson says he's seen enough demand in the market from both of those projects, and other projects in the area, to start to look at launching his Enderley Avenue apartment development.
Enderley, located just off Garfield Terrace and the dress circle Northcliffe area, will have just 54 apartments across a 25-level, BDA Architecture-designed tower at 8 Enderley Avenue, a maximum of three apartments per floor.
There will be two levels of amenity, with the lower level hosting a communal mezzanine with a spa, gym and sauna, and the upper level with a lap pool with pool deck, barbecue alfresco and dining space, a private dining area with a bar and cellar room, a games room, and a space with work from home facilities.
"The outlook for 2024 on the Gold Coast appears optimistic, with expectations of continued strong demand," Thompson says.
"This trend is driven by a specific segment of the market: owner-occupiers seeking to enhance their lifestyle. These purchasers are typically looking for low-maintenance living options, such as high-quality apartments, which align with their desire for a better quality of life.
"The Gold Coast, with its natural amenities like beaches, cafes, restaurants, and easy access to public transport, coupled with man-made amenities such as health and wellness centres, rooftop pools, and private dining options, presents an attractive proposition for these buyers."
Developer: Lewis Land
Projects: Harbour Shores Biggera Waters, Future Harbour Quays
Veteran developer Lewis Land Group, Australia's oldest privately held property development entity having been founded by the late developer Bernard Lewis in 1957, has one of the most exciting projects coming to the market on the Gold Coast in 2024.
They'll be launching Harbour Shores, their $1.5. billion masterplan in Biggera Waters. It's already secured a 6 Star Green Star Communities V1.1 rating from the Green Building Council of Australia, making it the Gold Coast's highest-rated Green Star Community.
Harbour Shores, which is aiming to be entirely fossil-fuel-free, will encompass over 2,000 dwellings, parklands, a waterfront boardwalk, private marina berths, retail spaces, and various amenities. Lewis Land Group has collaborated with sustainability consultancy Dsquared to optimise sustainability outcomes.
Lewis Land's Gold Coast pipeline also includes the Future Harbour Quays project, featuring a man-made canal address with 1.5 kilometres of water frontage. This development will comprise 360 apartments across three towers, a resident lounge, recreational facilities, and a three-story sky garden. Further projects include a waterfront mixed-use development, additional apartments, and a retail and residential development.
Developer: Iris Capital
Projects: Victoria & Albert Broadbeach, Garfield Terrace Surfers Paradise
Sam Arnaout's Iris Capital recently took over the construction of their landmark $1 billion Broadbeach apartment development and retail precinct, Victoria & Albert
They'll continue to sell down the successful project which has seen been one of the most popular projects on Urban.com.au since it launched in late 2021.
The two towers, Victoria Residences and Albert Residences, will home just over 400 apartments and will rise above what will be a hand-picked retail
Iris Capital also has a prime development site on Garfield Terrace, where they have approved plans for a 38-level beachfront tower. They've been biding their time with the project, waiting for the most appropriate time to launch, which may well come in 2024.
That's expected to ignite the beachfront, which hasn't seen a new project launch since mid-this year. Plans were approved for the luxury 51-apartment project in mid-2022, with DBI Architects, who designed V&A, also in charge of the designs of this project.
Level 24 of the tower will be dedicated to a suite of residential amenities including a a swimming pool gazing over the Pacific Ocean, a gym, sauna, and outdoor barbecue and dining area. Part of the development will be an ultra-exclusive, two-level beach house with four bedrooms and its own private pool.
At the time of approval, Arnaout said they are big believers in the Gold Coast, having witnessed the success in sales so far at V&A Broadbeach.
"We are looking forward to following this up with the delivery of another high- class project in what is emerging as a very exclusive precinct,” Arnaout said.
“We see long term positive fundamentals for the Gold Coast. It’s a very desirable place to live and migration is very strong, as such there is always going to be demand for residences that complement the lifestyle people flock to the Gold Coast for.”
Iris Capital also has a significant development pipeline in New South Wales. Their $1 billion East End Village project in Newcastle is nearing its final stages, while arguably their most impressive project is Queensgate, the Potts Point redevelopment of the beloved Bourbon on the corner of Darlinghurst Road and Maclaey Street.
Queensgate will comprise 48 apartments across five distinctively-designed buildings, each with their own Art Deco identity.
One of the penthouses sold for $16 million, and there were further sales over the $10 million mark.
Developer: Sherpa Property Group
Projects: Perspective Nexus Palm Beach; Perspective Nexus Chevron Island
Christie Leet's Sherpa Property Group recently went on a buying spree, securing three residential development sites across Australia's eastern seaboard.
As well as two land and townhouse site purchases in Terranora and Labrador, Sherpa secured a prime site on Chevron Island, where they're planning to submit an application for a high-rise development in the coming weeks.
The project, on 1,710 sqm at 107 Stanhill Drive, will be the latest in their sought-after Perspective series. It is expected to launch next year.
Leet said the growth trajectory of the Gold Coast was simply astounding.
“Apartment sales have increased, and stock levels have decreased – we are keen to fill that void,” said Leet.
Sherpa will continue with their recently released Palm Beach apartment development Perspective Nexus, just 32 apartments in a prime spot next to the Palm Beach Parklands and the sand.
Sherpa will also be welcoming residents to their Mermaid Beach development Perspective on Albatross, a boutique project of just eight apartments, one of which Leet will move into on completion.
“I was so excited by the site and the design that I have already sold my beachfront home on the Gold Coast in preparation for living on Albatross," Leet said.
"What I’m really looking forward to is joining the select few who can take advantage of my 30-year search and Sherpa’s new Perspective on beachside living.”
Developer: Aniko
Projects: Seaview Mermaid Beach, Orama Chevron Island
Aniko Group will be undertaking the biggest development the Gold Coast has seen in a number of years in 2024. They'll be launching Seaview, their $1.5 billion, four-tower masterplan in Mermaid Beach.
The masterplanned mixed-use development spans 1.13 hectares and has four towers ranging from 25 to 53 storeys. The project encompasses residential apartments, a luxury hotel, offices, retail spaces, and food and beverage outlets.
Aníko Group aims to reinvigorate Pacific Fair Drive and enhance the under-utilised canal edge, creating an active green space. The apartments are targeted at various demographics, including owner-occupiers, downsizers, investors, and holiday homeowners.
Aniko, led by founder George Mastrocostas, has also recently kicked off construction of their debut Chevron Island apartment development Orama, which only has a handful of apartments left.
Aniko made their name for themselves on Hope Island, transforming the small enclave with a number of apartment and townhouse developments over the last four years.
Developer: Meriton
Projects; Iconica Surfers Paradise, Cypress Surfers Paradise
Meriton has the largest pipeline of apartment developments in the Gold Coast. They're currently constructing Iconica, their two-tower, 637-apartment development at 152 Esplanade, and are selling the remaining apartments in their completed SJB-designed Ocean tower at 88 The Esplanade, which has 408 apartments.
Just last month they secured approval for their three-tower Cypress Avenue project which will bring a further 1000 apartments to the pipeline.
The three towers across a nine-site amalgamation at 3346 Surfers Paradise Boulevard will rise 53, 73 and 80 levels. The smaller tower will have 327 serviced apartments, while each of the three towers feature a rooftop garden with a pool and a gym space.
Cypress will be Triguboff's 21st high-rise development on the Gold Coast, having first visited the now thriving tourist mecca six decades ago.
“I have loved the Gold Coast since my first visit in the 1960’s, and after all my travels internationally, I still believe the Surfers Paradise beachfront is one of the best in the world," Mr. Triguboff says.
“I have been very passionate about designing and delivering buildings that are in tune with the ocean and the golden beach that is just metres away.”
Meriton's main focus is of course New South Wales where they have a considerable number developments currently in market and in planning, while there's also a two-tower project in Brisbane which is set to be submitted to the Brisbane City Council before Christmas.
The project, at 204 Alice Street, will replace the Gardens Apartments building and will have two 78 and 69-level towers with 799 residential apartments and 254 serviced apartments.
Developer: Mosaic Property Group
Projects: Bianca by Mosaic, Dawn by Mosaic, Luca by Mosaic, Augusta by Mosaic, Floorence by Mosaic, Isabel by Mosaic, Marella by Mosaic, Lily by Mosaic
One of the most enviable portfolios across South East Queensland belongs to builder developer Mosaic Property Group, who will be focused on delivering some of their Gold Coast projects in 2024.
They have eight projects on the go in the Gold Coast, everywhere from Brooadbeach down to Kirra.
They're currently delivering Bianca by Mosaic in Bilinga to its 13 off the plan buyers, as well as Dawn by Mosaic in Mermaid Beach, the latter achieving incredible success by selling 95% of its 87 apartments within two weeks back in early 2021.
Isabel by Mosaic
Mosaic will complete three more Gold Coast developments in 2024, Luca at Kirra and two Burleigh Heads projects, Augusta by Mosaic and Florence by Mosaic.
They also recently launched Isabel by Mosaic just down the road, which has quickly secured $100 million in sales in a matter of weeks of being on the market.
Mosaic be looking to complete that 17-level, Koichi Takada-designed building with 28 apartments in 2025, along with their two current Broadbeach apartment developments, Marella by Mosaic and Lily by Mosaic.
Developer: Hirsch & Faigen
Projects: Hemingway Palm Beach, Emerson Kirra, Yves Mermaid Beach
Melbourne-based real estate developer Hirsch & Faigenon the look out for new development sites on the Gold Coast, with 2024 marking the completion of their debut apartment collection from Kirra up to Mermaid Beach.
They've nearly sold every apartment in the $350 million Gold Coast portfolio, which includes Hemingway Palm Beach, Emerson Kirra, and Yves Mermaid Beach.
The $75 million Hemingway Palm Beach has successfully sold all its apartments, while the $75 million Emerson Kirra is only a penthouse away from a complete sellout.
The largest development, the $200 million Yves Mermaid Beach, is currently 90 per cent sold, and is expected to be sold out in the next few months.
In terms of construction, Hemingway is all but complete, residents are expected to move into Emerson by mid-2024, and Yves is hoping to be completed by the end of the year.
Director Daniel Faigen expresses the success of their debut Gold Coast projects and signals a continued focus on the Gold Coast for future developments, showcasing the company's ongoing interest in the city's real estate market.
“Our team is always reviewing opportunities across the territories in which we operate, and the Gold Coast will remain a focus for us in future,” Faigen said.
Developer: GURNER™
Projects: La Pelago Surfers Paradise, 1929 Gold Coast Highway Burleigh Heads
Tim GURNER's Multi-billion-dollar developer GURNER™ will be looking to press on with his four-tower, $1.7 billion La Pelago development at Budds Beach.
All 349 apartments in La Pelago's first tower, the 65-level Aquia, had sold, with sales totalling $350 million. The apartments will sit under a 185-room hotel, and a number of significant penthouses toward the top of the tower, some of which are supposed to have sold for record-breaking prices.
No news of a tower two release which GURNER works on securing a build contract, but there will be movement at his recently approved Burleigh Heads apartment development at 1929 Gold Coast Highway.
The 22-level development, a joint venture with MaxCap, will have 80 apartments across the 18-level building which will also feature a landscaped rooftop deck with pool and bookable private spaces.
Designed by long-time collaborator of GURNERTM, Warren and Mahoney in collaboration with GURNERTM’s in-house design studio, the Burleigh Heads site will be centred around the concept of a lush, Singaporean landscaped oasis blended with elegant Japanese interior design.
Read more: GURNER to push on with Burleigh Heads after green light from council
GURNER, who has other development projects in Port Douglas and Fortitude Valley, is looking at further acquisitions in Brisbane and the Gold Coast to continue to bolster its Queensland business.
Developer: Morris Property Group
Projects: Crest Broadbeach, Bondi Burleigh, Lido Broadbeach, Malo Broadbeach
Canberra-based builder developer Morris Property Group, who has an extensive history of developing on the Gold Coast, has a considerable number of developments in the pipeline for 2024.
Their two largest projects are Lido, 348 apartments across two towers on a prime 3,305 sqm site at 13-15 Australia Avenue in Broadbeach, and Crest Broadbeach at 13 Armrick Avenue which recently starting taking registrations of interest.
Crest Broadbeach comprises 182 two and three-bedroom apartments starting from just under $900,000 . There's a gym, pool and barbecue deck.
Read more: Morris Property Group taps into owner-occupier market with Crest Broadbeach apartments
Expected to launch early next year will be their anticipated Burleigh Heads apartment development, Bondi Burleigh, the name stemming from the growth and prominence that the Burleigh area has achieved as evolving into one of Australia's leading areas for investment and living.
The project will bring a fresh look to Burleigh Heads, which has been dominated by more boutique, half or full-floor projects. Bondi Burleigh will have 124 apartments across 25 levels at 1873-1875 Gold Coast Highway, as well as an entire level of amenities on level two, including a north-facing swimming pool and a state of the art wellness spaces created by Wellness Solutions.
Read more: Exclusive: Morris get green light for Bondi Burleigh apartment tower
They have a more boutique project, Malo, at 8 Jubilee Avenue, which has just 16 three-bedroom apartments across nine levels. Morris has sat on the prime 607 sqm site since 2006.
Morris Property Group also has interests in Brisbane. Earlier this year opened up the possibility of switching their proposed commercial office tower at 19 Eagle Terrace for a 179-apartment development.
Developer: Amalgamated Property
Projects: Amaya Broadbeach, Chelsea Avenue Broadbeach
The Canberra-based Amalgamated Property Group ventured back into the Gold Coast off the plan apartment market in late 2022 with their Broadbeach apartment development, Amaya Broadbeach.
Now 90 per cent sold, the team, led by Graham Potts, has set themselves up for their next project.
They secured a 1,820 sqm site on Chelsea Avenue from Raptis, who had approved plans for a 41-level, Archidiom-designed tower with 180 apartments. They were targeted at the owner-occupier, with some 144 of the 180 apartments three-beds, with the rest twos.
APG have had DBI make some amendments, changing the apartment mix to make 148 two-beds, a number with a study, and 37 three-bed apartments.
"The project proposes the addition of a contemporary, innovative building which reflects and responds to it’s coastal context whilst providing a high standard of architecture, liveability and appropriate scale within the Broadbeach precinct," DBI said.
There will be a pool on the ground floor flanking by landscaping and a pool deck. Adjoining the pool will be a gym with sauna and steam room, as well as a residential lounge. level two will have a private dining area and kitchen and a business centre with work from home space.
Amalgamated will be looking at launching the project next year.
Development manager Michael D’Elboux said APG's re-entry into the Queensland property sector has been warmly received by the market with strong sales in Amaya.
"We're confident in the strength of what Broadbeach and the Gold Coast has to offer for a range of buyer profiles, fuelling our investment in this marketplace once again as we bring forth the launch of a second Broadbeach project on Chelsea Avenue in mid-2024," D’Elboux said.
Developer: Immerse
Projects; Rhythm Kirra Hill, 39 McLean Street
Immerse Projects, led by veteran builder John Kearney of Greyburn, is set to launch its second apartment project in the sought-after Coolangatta neighbourhood in 2024.
The 17-level development at 39 McLean Street, adjacent to Immerse's Rhythm Kirra Hill project currently on the market, will consist of 58 apartments, including a mix of two- and three-bedroom designs.
The project, which will both launch and start its build next year, aims to cater to the "missing middle market," providing quality coastal residences with resort-style facilities without a premium price point.
Immerse has already seen great success from Rhythm Kirra Hill which has 42 apartments across seven levels.
Designed by leading architects BDA, the project emphasises unique floor plates to appeal to a broad market segment. Amenities include a rooftop pool and BBQ area, sauna, meeting room, parcel lockers, gym, and outdoor shower.
The company's focus on the southern Gold Coast reflects confidence in the market's demand for such products amid an ongoing undersupply of stock.