Citimark to deliver $1 billion in projects in five years
Prolific Queensland developer, Citimark, is set to deliver more than $1 billion in residential projects on the Gold Coast over the next five years starting with a prime parcel immediately south of the Q1 in Surfers Paradise.
Citimark plans to transform the prime beachside site into a 45-level residential high-rise that will create 206 new apartments to meet pent-up demand. The as-yet unnamed $160 million project is at the corner of Markwell Avenue and Surfers Paradise Boulevard, just 200 metres from the beach and adjacent to the city’s new light rail track.
Citimark secured the parcel earlier this year for $11 million, which included development approval. The company has also purchased prime sites opposite the Markwell Avenue site and on Chevron Island and is assessing several other high-rise and townhouse sites.
