PHOTO: Jewel development in Surfers Paradise
Three years after construction finished on the most expensive high rise development in Queensland’s history, hundreds of its luxury beachfront apartments remain empty — and most of them are not for sale.
The $1.5 billion Jewel development in Surfers Paradise has three towers, with international hotel group The Langham independently managing the middle tower as holiday accommodation.
The Jewel’s overseas owners want to maximise its value and say they’re in no rush to sell. Meanwhile, Queensland’s housing minister says they should “do the right thing”.