Malaysian developer MRCB International is the latest potential entrant to the Surfers Paradise property scene after lodging plans with the council for a 51-storey high-rise residential tower.
Designed by Gold Coast-based architects DBI, plans for the multi-faceted project on Vista Street include 280 apartments, six levels of car parking and recreational spaces for residents.
It would mark MRCB International’s first development on the Gold Coast since its establishment in Australia in 2014. The property and construction developer has already successfully delivered several residential projects in Melbourne, including 1060 Carnegie and Easton Burwood.
“The Gold Coast is a burgeoning city providing scope for smart and sensible developments that recognise its linear layout and that can take advantage of its growing transport network,” MRCB International CEO Ravi Krishnan said.
“We selected the site due to its location within the Light Rail Urban Renewal Area, and with Northcliffe Station right at its doorstep, the development will be well connected and is consistent with the city’s dwelling targets and intent for a higher level of street activation.
“MRCB have delivered a large portfolio of successful integrated commercial and residential developments anchored around transportation hubs, and this project will provide a premium residential tower within this strategy.”
MRCB International is a wholly-owned subsidiary of Malaysian Resources Corporation Berhad; a key player in Malaysia’s building and infrastructure development scene since its listing on the Malaysian Stock Exchange in 1971.
The 3,100 sqm site, which features dual access from Thornton Street and Vista Street, was purchased in September 2021 by MRCB for $17 million, with a gross development value of almost $300 million.
The proposed residential tower includes six townhouses at the ground level with individual street access and is located just a short stroll from the beach and Northcliffe Surf Club.
Recreational areas for residents in the 172-metre high building would include a cinema, resident's lounge with bar, a wellness suite with gym, massage room and rooftop terrace.
The developer hopes to start construction in 2023 and is aiming for completion in 2025.
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