FEDERAL MP Warren Entsch has congratulated Crystalbrook Collection on its $100 million investment in Reef Marina at Port Douglas.
Mr Entsch said the purchase by Mr Ghassan Aboud, owner of Crystalbrook Collection, was a significant first step in making Port Douglas a world class super yacht destination that was on par with any other luxury travel hot spot around the globe.
“I welcome this investment in our region, and am confident it will propel Port Douglas’ reputation as a must-visit destination for the world’s wealthiest travellers beyond what we have previously experienced,” Mr Entsch said.
“Without investments like this, gems like Port Douglas would struggle to attract international attention that translates into higher numbers of wealthy visitors from new tourism markets, greater visitor spending, and substantial new infrastructure that adds significant value to the local area.
“I am very pleased to see Mr Aboud investing at such a high level in our region as it will create a real boost to local economy.
“This is an exciting development, and I’m confident it will re-energise Far North Queensland in its entirety as the flow on effects of this redevelopment and investment extends to other areas through more jobs, visitors and service requirements,” Mr Entsch said.
“I look forward to construction commencing on the 100-room luxury waterfront hotel, 50 premium residences, increased retail and dining areas, and 24-berth upgrade once council approval has been granted.
“I invite other investors to follow Mr Aboud’s lead and take advantage of the opportunities and enormous potential that our tropical paradise offers unlike anywhere else in the world,” Mr Entsch said.