Victorian Government Turned Down Crown’s Request Of Delaying Construction Of One Queensbridge

Victorian Government Turned Down Crown Request Of Delaying Construction Of One Queensbridge

The construction of the tallest building of Australia, a project of Crown Resorts, faced another backlash when their request for delay was rejected by Victorian government.

Crown stated today that the company is seeking for a more organized and planned building.

In February 2017, the Victorian government approved Crow’s plan of developing One Queensbridge hotel and apartment tower in Melbourne at the casino resort that is already developed by the company. There was a significant criticism about government greenlighting this plan, however Premier Daniel Andrews deemed it for the significance of state and approved it.

Crown plans to build it in partnership with Schiavello Group. Both companies applied to Victorian Government for extension until they make enough to finance this project.

The request for extension was seen as threat to state market as Sydney and Melbourne constitute about 60% of the real estate of Australia. They also plan to launch a grand A$2 billion hotel on the beachside of Sydney.

The hotel and casino operators stated that there is news that there is a probability of getting informal notice about the delay of construction of Melbourne tower soon.

The Tallest Building In Australia

One Queensbridge will be the tallest building of Australia, 323-meter high consisting of 90 stories and will top Q1 in Surfers Paradise. Crown said that this project is the center of his attention after he left Macau in 2017.

There is a plan of A$1.8 billion investment in One Queensbridge by both the partners. Nevertheless, the finances from Schiavello Group can be transferred after starting date of construction.

One Queensbridge, comprising of 300000 square meters of floor area, will be the biggest single-building development project of Australia which will take around five years in its completion.

Crown affirmed the improvement of roads and upgradation of nearby Queensbridge Square and Sandridge Bridge by investing A$100 million in them. However, there is a stoppage of profit due to withdrawal of Chinese at its place.

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