Chinese owned Landbridge to build luxury hotel on Darwin waterfront

Chief Minister Adam Giles signed a binding agreement with Chinese-owned port operator Landbridge for a luxury hotel at the Darwin waterfront.
The Government has gifted 2.9 hectares of the former Toga land for the hotel project as well as an “18-month call option over an additional 1.5 hectares of the former Toga land on commercial terms”.

Taxpayers will also pay $10 million towards servicing the site for the luxury hotel. Mr Giles said they would not be providing support for the hotel’s ongoing operations.
Construction of the $250 million hotel project will begin next year on the former Toga land at the waterfront, with completion expected by 2020.
“The agreement will deliver the Government’s objective to meet unsatisfied demand for luxury accommodation in Darwin through a vibrant, integrated development of world-class standard,” Mr Giles said.

“The deal builds on the strategic partnership between the Government and Landbridge, and reflects both parties’ keen commitment to the ongoing economic growth and development of the Northern Territory.”

The hotel will be operated by Starwood Hotels & Resorts through the introduction of its Westin brand to the Northern Territory, the Government said.

An artist’s impression of a luxury hotel to be built at the Darwin Waterfront. 

The Government has gifted 2.9 hectares of the former Toga land for the hotel project as well as an “18-month call option over an additional 1.5 hectares of the former Toga land on commercial terms”.
Taxpayers will also pay $10 million towards servicing the site for the luxury hotel. Mr Giles said they would not be providing support for the hotel’s ongoing operations.

An artist’s impression of a section of the luxury hotel which will be built at the Darwin Waterfront. 

“The luxury hotel development is expected to provide a significant economic boost and generate more than 500 jobs during the construction phase and hundreds of ongoing jobs when it opens,” Mr Giles said.
Mr Giles signed a controversial 99-year lease of the Darwin Port last year with Landbridge for $506 million. The hotel deal was signed five days before the Government goes into caretaker mode for the election.

http://www.ntnews.com.au/business/landbridge-to-build-luxury-hotel-on-darwin-waterfront/news-story/2355b459a07d487f1ce9badbce9a9737

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5 Comments Add yours

  1. mudgee mike says:

    I wonder what “incentives” hastened this deal so soon before an election….? Just asking…

    Liked by 1 person

  2. Where do these fools come from don’t they realize that every dollar that leaves this country is lost forever to our monetary system and taxes.Why give money for services when the developer should cover these costs.

    Liked by 1 person

    1. mudgee mike says:

      Totally agree

      Like

  3. Can you see the Chinese allowing Australians to do the same in China? They must think that we are particularly stupid.

    Like

  4. Colo says:

    😑😩they must have been talking to the crazy fools trying to give away prime land on the Gold Coast spit to a Chinese consortium.

    Like

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