Chinese Government To Build $400m Temple To Wellness On Gold Coast

A STATE-owned Chinese company that has been spreading its wings internationally is making an “elegant” Australian debut with twin apartment towers at Broadbeach.

The Hubei United Development group plans to start work by June on Elegance, a $400 million project which it intends to be a mecca for health and wellbeing on the Gold Coast.

Hubei, based in Wuhan city in Hubei province, is to build the 45- and 50-level towers on a former Hungry Jack’s site at 2605 Gold Coast Highway.

The 3783sq m site, which also fronts Mermaid Ave, was bought by Hubei subsidiary UMB Properties at $34.1 million in September.

Annie Shen, director of UMB Properties, yesterday said Hubei believed the Coast was a world-class city and property prices would reach Sydney and Melbourne levels.

“It’s a dream tourist destination for wealthy people,” she said. “Property prices have substantial room for gains.”

Ms Shen said Hubei was a multifaceted company owned by the Hubei Provincial Peoples Government with more than 40 property development projects under way in China.

“Overseas investment is a key strategy for Hubei,” she said.

“The group already has expanded in Belgium, Russia, Kazakhstan and Vanuatu in fields such as tourism, engineering, environmental protection and technology, and forestry industry processing.

“Hubei regards Elegance as a milestone in its overseas expansion and will be securing an additional project within Australia in coming months.”

The Elegance towers will house 536 apartments sitting above three levels of restaurants, shops, offices and recreation facilities.

The retail precinct is to include health food and vitamin shops, organic cafes, massage parlours and a naturopath.

Ms Shen said UMB would look to hold organic farmers’ markets in the Elegance lobby’s foyer, which would have a three-level void.

She said facilities available to residents would include day spas, indoor and outdoor meditation rooms, libraries, yoga studios and Zen gardens.

“Waterfalls and green walls will feature prominently throughout the first three recreational levels, with the void stretching up to the pool area on level three,” she said.

Hubei is expected to start marketing Elegance, through Ray White Projects Gold Coast, in May and to complete the Raunik-designed towers by mid-2020.

Source: Gold Coast Bulletin 6 April 2017

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