Fung plans 750-apartment tower in Surfers
A development of up to 750 apartments is being planned by Aquis developer Tony Fung at Surfers Paradise.
The Hong Kong billionairehas acquired the 3833m² International Beach Resort site on The Esplanade from Phoenix Investment Holdings (Aust).
“Aquis can confirm Mr Fung has contracted a site along Surfers Paradise Esplanade for an undisclosed price and is currently considering options for future development. The transaction is subject to confidentiality and we cannot add anything further,” a statement from Aquis said.
The International Beach Resort was built as the Apollo and suffered a three-floor fire in 2008 forcing evacuation of the building. The complex, like other pre-1974 structures, did not meet the current fire safety laws.
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