Aquis Extends Options Over Yorkeys Knob Site

10 Replies

Gaming and real estate development group Aquis has confirmed its commitment to the Aquis at the Great Barrier Reef Resort after today exercising its right to extend Call Option Deed (“the Deeds”) agreements over the site at Yorkeys Knob, north of Cairns.

The Deeds cover 11 separate land holdings controlled by six different land owners and allow Aquis to acquire the sites at any time over the next six years. Together the sites comprise more than 340ha of land.

Aquis initially signed a five-year deal with option dates in 2013, 2014, 2015, 2016 and 2017. Agreements over the core site were extended last year to include 2018, 2019 and 2020 giving Aquis until September 2021 to exercise the options.

The Deeds with the landowners are required to be extended every year.

Aquis Australia CEO Justin Fung said extension of the Deeds confirmed Aquis’ continued commitment to the project despite a range of challenges.

“Our vision for an iconic integrated resort targeting Asia’s emerging middle class has remained unchanged since we first conceived the idea and floated it with the State Government more than three years ago,” he said.

“We are continuing to do all that we can to progress the project and comply with the complex processes established by the State Government.

“Our priority remains finalising the terms of a Casino Agreement which will allow us to move to the next stage of planning.”

Mr Fung the site at Yorkeys Knob was a key part of the group’s strategy to develop an integrated resort in Queensland.

“It remains the best large-scale tourism development site in Queensland, probably Australia, and we remain committed to developing the site,” he said.

  • Phil What planet are you from? This project is not about a gambling house, but rather it is about the creation of thousands of new jobs. It is about offering local young people a future in tourism and hospitality-related fields and giving them the opportunity to acquire professional skills that are valued internationally. What hope do you offer the young? What is your plan for job creation in the area? Perhaps you don't have one ... like all the other deadbeats I hear whinging about this wonderful opportunity.

    November 16, 2015 at 11:13 am
    Posted by Tom Bennett
  • I was very doubtful of this project for a long time, having looked into developments in Yorkeys Knob myself when a resident and Cairns business owner .. however having been in KL for the last year, after the major crash of the mining and building industry in Australia looking for new markets, I've come to understand the Asians and their markets much more intimately, I am not as much of a doubting Thomas as I would have been ... and now have new Chinese partners of my own ... it is for this reason I know such a concept will do very well for Australia, particularly Cairns ... if the attitude can change a smidgen to permit it.... and keep out some of the folklore criminals that tend to jump on the wagon of these high powered projects ... I am staying in a medium sized Accor Hotel, 3 star and each day I will watch over 20 bus loads of Chinese and Indian Tourists being channeled in and out ... over 500 hotels in Malaysia experience the same situation ... I've been traveling throughout Asia on the new budget airlines ... which copy Virgin very well! I can hop from KL to Bali for AUD$65 or Singapore from AU$17 and currently the Gold Coast for $171 (base rate) This allows the Asians and Indians to visit just about anywhere in the Asia Pacific for the Weekend, after all the area is smaller than Australia to travel ... This new movement is massive and why Accor are developing many new hotels in the region. They are targetting the 3 - 4 star income as this is where the $ are, the up and coming middle class. Asians love technological new, fancy man made things ... they're not really into environmental things .. though once they are initiated they become converts, .. Cairns could play a very big part in teaching the biggest community on Earth how to protect our planet. There will be an insular nature to the project, Asians tend to provide all of their own services from grass roots up ... if you recall I was in business with Bobby Limb for a short while before he died .. In the last recession - JAL bought the Show Boats to channel Japanese tourists through. They owned everything from the planes to the buses ... this is what I mean by insular, and this has a rape and pillage effect on the local community ... this just requires some thought and negotation. With Indonesia on fire half the year - was very bad this year - cities from Singapore to Bangkok where just a big smoke haze ... the thought of some lovely clean Australian air with a bit of gambling fun (this is what they do) would be too much to resist ... Put Aquis in a self managed bowl that does not seep into the sea ... this is very possible, as it will basically be floating anyhow .. a few resorts passed up Yorkeys for that reason. My bobs worth

    November 11, 2015 at 4:10 pm
    Posted by Pauline Douglas
  • Go for it this next generation need work and i take my hat off to aquis i hope its all green lights in the future. Jobs tourism not an opportunity to be missed Good luck

    November 3, 2015 at 7:02 pm
    Posted by ckirchof
  • We need the Environmental Team from Cairns City Council to step up and make this happen place the rate payers money into this to create Jobs

    September 22, 2015 at 10:40 pm
    Posted by Adam McDonald
  • Every success to Aquis we need this project to be given green light. But i still dont get it WHY has probity been given in the ACT and here in QLD oh no no no! Has our govt got its nose out of joint because ACT are just so much more efficient? and beat us to the start line

    September 4, 2015 at 8:36 am
    Posted by Phil Gibson
    • No, we don't need this casino project, we already have a casino in the CBD. This project is about a gambling house, it's about a corporation profiting from gambling revenue, why build here? because it is illegal to gamble in mainland China, that's why they can't build this in China, so they are 'using' us to profit from Chinese gamblers travelling abroad. WE DON'T WANT THIS DEVELOPMENT. Why don't Aquis lobby the Chinese government so they can build their casinos in China. This development will ruin the lifestyle of Yorkey's Knob, it will create traffic congestion, light pollution 365 nights a year, and noise. We don't want it.

      October 27, 2015 at 2:08 pm
      Posted by Bob of Cairns In reply to Phil Gibson
      • What's this "we don't want it"? Speak for yourself. I want it. My family want it. Thousands of jobs will be created and the State needs it.

        November 10, 2015 at 10:59 am
        Posted by Rob Hemmings In reply to Bob of Cairns
      • Please don't say WE don't want this as the 'other' WE DO WANT THIS: growth, revenue, employment.

        November 22, 2015 at 7:02 pm

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