Project Updates
PRESS RELEASE (27 September 2018)
27 SEP, 2018 | Yuhu Admin

PRESS RELEASE

 

Thursday, 27 September 2018

 

JEWEL PROJECT GOLD COAST

 

Australian development company Yuhu Group Australia has reconfirmed its commitment to delivering the $1 billion Jewel development project on the Gold Coast which is expected to be completed and launched in mid-2019 as previously scheduled.

It is important to note that Yuhu’s Jewel project is supporting around 2,060 jobs directly and 1,098 jobs indirectly per year during construction, with around 500 long-term jobs to be created following its completion and grand opening next year. All these jobs have been sourced locally and will continue to be so, as Yuhu continues to make a strong contribution to supporting the local economy and local employment.

Yuhu is also delighted to be partnering with Multiplex, a leading international construction company which has built some of the finest developments in Australia and beyond, shaping skylines and delivering iconic projects for more than 50 years.

Yuhu wants to make it perfectly clear that Multiplex has been and will continue to be our main construction partner on the Jewel project. The company can further confirm that all payments to Multiplex that are due and payable in accordance with the contract are made.

We can also today further advise that we are conducting an international selection process to identify a world-class hotel operator for the luxury five-star hotel component of the Jewel project.

Several major international hospitality groups have already visited the Jewel project site and were impressed by the overall hotel configuration, including the spaciousness and proposed standard of finishes. The 169 hotel rooms that form part of the Jewel are generously proportioned at an average size of 50-60 sqm, almost double the size of the average hotel room found on the Gold Coast and will be in a class of their own.

It is expected that the hotel operator will be selected in the coming weeks. As is common industry practice, Yuhu will take guidance from the chosen operator when finalising design and configuration elements to ensure the hotel also reflects the operator’s signature characteristics and feel. Plans were in fact made in the construction schedule to allow for the selected operator to add its own touches to the hotel, such as feature walls in the hotel’s podium levels, without causing any delay to overall project completion schedule.

Therefore, some changes to the contract to allow scope for these provisions are to be expected. We have communicated this with Multiplex and have kept them up-to-date with developments in this regard. We have also acted in accordance with the construction contract at all times.

It is therefore somewhat surprising to see media reports of job losses and potential job losses. Ultimately, all necessary work will be carried out to finish what will be a magnificent new asset for the Gold Coast and local tradespeople will continue to be the beneficiaries of this work.

Yuhu can provide assurances that all the remaining work will be undertaken by Australian contractors. We are happy to assist and facilitate the Queensland Building and Construction Commission (QBCC), the Union, or any other related organisations in their effort to ensure that the quality of the construction meets the highest standard and that appropriately licensed contractors are being engaged and well paid.

Finally, we will also play a constructive role in supporting and encouraging Multiplex to resolve any potential misunderstandings on the project site with subcontractors, other workers or anyone with concerns.

 

Media inquiries: Cameron Hill on 0400 940 968.

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