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Billion-dollar Gold Coast construction project gets off the ground

Billion-dollar Gold Coast construction project gets off the ground

McCullough Robertson has advised Chinese developers on a project described as the largest mixed-use development in Australia.

Firms: McCullough Robertson (Wanda Ridong); In-house Counsel (Brookfield Multiplex)

Deal: The Dalian Wanda Group and Ridong Group undertook a joint venture to develop the Jewel Towers Project. 

Value: $1 billion

Area: Building and construction

Key players: Partner Brett Hawkins (pictured) led the McCullough Robertson team advising the overall project. Partner Michael Rochester and lawyer Joseph Jones worked on the negotiation of legal aspects of the building contract that saw Brookfield Multiplex appointed as the building contractor.

Brookfield's in-house team was headed up by general counsel Meg Redwin, assisted by Paul Calvert.

Deal significance: 

The development is a joint venture between Chinese developers Dalian Wanda Group and the Ridong Group. Most recently, the firm advised on the Jewel project's procurement and tender process, including the final appointment of Brookfield Multiplex as the building contractor.

The Dalian Wanda Group has partnered with the Ridong Group to create the Jewel Towers – described as “the largest mixed-use development in Australia”. The development will comprise of three geometric-form towers “emerging from the Gold Coast skyline” and will include more than 500 residential apartments and retail spaces, as well as a five-star hotel.

Last week marked the official signing of the design and construction contract.

“Our team has been involved from the start and we are delighted to see the project reach this stage, given its ongoing significance to the Gold Coast and Queensland economies,” Mr Hawkins said.

McCullough Robertson is also advising the Wanda Group on its landmark $1 billion project at Circular Quay in Sydney.

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