Tony Fung, a business tycoon of Hong Kong, has announced a new partnership with two development companies of China that seem to be willing to help finance the Aquis Great Barrier Reef Resort. The Yorkeys Knob property will have a cost of $8.5 billion to create and the new alliance is said to be beneficial to the financial side of the equation.
Aquis is now aligned with Tandellen and CCCC International Holding Limited, with a spokesman of Aquis not stating what the partnership means for the proposal of the casino, which has been drawn-out for some time. The plans include eight hotels with 7,500 guest rooms, a convention center, theatres and golf course. An artificial lake and lagoon are also included in the plans.
The spokesman stated that the new relationships that have been established with Tandellen and the CCCI are an important milestone for the ambitions of Aquis’ Queensland. Together, the entities have the financial and operational capacity to take on multiple projects in multiple locations.
The spokesman also stated that the tourist destinations of the Gold Coast and Cairns would remain the focus and would not be drawn to discuss the potential for a formal joint venture arrangement to progress with the project in Yorkeys Knob. On the matter, he stated that negotiations continue with the state government and announcements will be made at the appropriate time.