Gold Coast’s $900 million Jewel project reportedly on the market

There are reports the $900 million Jewel Resort in Surfers Paradise is on the market.

According to the South China Morning PostDalian Wanda Group is trying to sell five of its biggest international properties to a single buyer for $6.6 billion.

The proposed sale is understood to include the 1.13ha site on Old Burleigh Road in Surfers Paradise.


It comes after Chinese regulators warned Wanda and other high-profile companies to “curb offshore expansion and reduce its debt levels”, the Hong Kong news website reports.

In August, Wanda released a statement denying rumors they were planning to sell the Jewel.

“It has come to the attention of Wanda Hotel Development Company Limited that there are media reports regarding certain proposed disposals of the Company’s projects in Sydney and the Gold Coast, Australia,” the statement read.

“Having made such enquiry internally as is reasonable in the circumstances, the Company wishes to clarify that, as of the date of this announcement, the Company does not have any plan to make the said disposals referred to in the Media Reports, and thus such information is incorrect. Both projects are progressing as planned.”