According to the City of Gold Coast, the Gold Coast enjoys a growth rate of nine per cent and has access to an economic catchment of three million people. The region produces a Gross Regional Product of $26.95 billion.
Over the next decade, the Gold Coast will transform into a globally recognised city while retaining its enviable lifestyle and stunning natural environment.
In 2018, the Gold Coast will host one of the largest elite multi-sport events in the world, providing unprecedented international exposure and commensurate business, trade and investment opportunities.
More than $13.5 billion in major infrastructure projects are currently planned or underway, with more than $6 billion of actual building in progress, including mega projects like Jewel, the Pacific Fair upgrade, the Coomera Town Centre and the four-tower Ruby project.
Approximately $200 million in new world-class sporting infrastructure is being constructed in readiness for the 2018 event, including the Athletes Village, Gold Coast Aquatic Centre, Coomera Sports and Leisure Centre and the development of the Carrara Sports Precinct. The event itself is expected to inject $2 billion into the local economy.
Other projects include the revitalisation of the Gold Coast CBD in Southport, which attracts a workforce of 24,857 people.
The $1.6 billion Stage 1 of Gold Coast Light Rail, linking Griffith University and the Gold Coast Health and Knowledge Precinct to Broadbeach via Southport, commenced service in 2014.
The $420 million Stage 2 of the system will connect Southport to the heavy rail at the Helensvale Station, and will provide an immediate boost to the construction industry, supporting up to 1,000 new construction jobs.
On a cultural front, the $365 million Gold Coast Cultural Precinct will be launched in 2018, bringing the community together to engage with arts and culture, and supporting the city’s broader cultural economy and creative industries. It will also provide new employment and business opportunities.
Other projects include the $6.8 million Gold Coast Chinatown, an integral part of the development of the Southport CBD as a thriving, multicultural city scene.
Some of the city’s brightest residential real estate prospects are located in tightly held areas of the northern Gold Coast.
The city’s north is set for a $1 billion boom with the Coomera Town Centre project. After a decade in the pipeline, works have begun, which is sparking sales of land surrounding the precinct.
Stage 1 of the development will include a major shopping precinct, activity centres and transit hub. The project is expected to create 1,200 jobs during construction and 1,600 jobs once the centre is open.
Developer Westfield recently filed an application to expand stage one to include cinemas, office space and a nightclub, boosting the first stage from 55,000sq to 61,000sq.
The expansion of stage one could potentially create an additional 100 jobs.
The $390 million Gold Coast International Marine Precinct will also be a boon for the Gold Coast and a key pillar in the city’s economy.
The Northern Gold Coast will also see the introduction of a brand new hotel – the Coomera Garden Hotel Gold Coast. The new hotel features residential apartments and commercial spaces, and the sales office is now open for enquiry.