Far North Queensland is expected to receive a full year of growth with new developments set to start construction in Cairns, thanks to the Cyrstalbrook Collection.
Crystalbrook Collection has been touted as the cause of this growth, with a $370 million investment for three hotel developments in Cairns. The spend has also spurred 15 other major projects that promise to fundamentally change the region.
In comments obtained by The Cairns Post, Cairns Chamber of Commerce president Nick Loukas said all indications pointed to the region’s economy becoming turbocharged in 2019.
“It’s been a multi-speed economy,” Mr Loukas said.
“Despite all the construction, retail and to some extent tourism have had soft figures.
“However, there are very good signs ahead including forward bookings for 2019.
“Also, construction in town might have put some people off from coming in but as these hotels open, we will see the fruits of those difficult times come to fruition.”
Crystalbrook CEO Mark Davie said the company is not intending to slow down the roll-out of developments.
It already has guests staying at the Riley hotel, with Bailey and Flynn both opening in 2019.
There still remains the Crystalbrook Superyacht Marina in Port Douglas, put on ice for a redesign this year, and a prime block of land on Grafton St in the Cairns CBD.
“We’re working through the planning stages for Port Douglas and hope to make announcements in the early part of next year,” Mr Davie said.
“We’re waiting for the right opportunity for Grafton St.
“We will certainly pursue a plan if and when the right one comes along.”
Cairns Mayor Bob Manning said there was plenty to get excited about and the optimism around 2019 is well founded.
He hoped for final, unambiguous proof that several projects were going ahead – Nova City, Trinity Inlet dredging, the Cairns Convention Centre extension and the Smithfield bypass, for starters.