April 26, 2017
Chinese hands have snatched up sprawling sugar cane fields on the northern tip of Queensland’s Gold Coast with the intentions of turning the rural landscape into a new city.
Songcheng Performance Development, owned by a Chinese theme park entrepreneur, is the company striking a deal to develop the Norwell Valley, which is located smack bang between Brisbane and the Gold Coast.
The Norwell Valley is one of the last remaining undeveloped patches of land between Brisbane and the Gold Coast so it is not surprising that it was snatched up to be developed into a $1 billion mega hub for domestic and international tourists.
Songcheng Performance Development is currently laying the foundations for a full blown city which includes residential, commercial, health, and educational precincts. It is currently proposed that the development would take place over the next 25 years, to coincide with a spending spree on highway infrastructure between Brisbane and the Gold Coast.
This mega development isn’t Songcheng Performance Development’s first foray into South East Queensland. Last November they unveiled plans for a $400 million ‘cultural theme park’ on a riverfront Nerang Site.
The farmers who currently own the land are not letting slip any details regarding the land grab but it is expected that when the deal is finalised in mid-2018 it could amount to Australia’s largest land sale.