Sanad Capital major 400 million dollar tourist development
Dubai-based business conglomerate, Najibi Group, has just launched its new investment and development offshoot, Sanad Capital Pty Ltd on Australia’s Sunshine Coast, in a bid to increase the area’s competitiveness as a regional and international tourist destination.
Ploughing more than $400 million into its first project in the Sunshine State, the yet to be named, master ‘Active Lifestyle’ development is set to increase spend to the area by $60 million per annum throughout construction, and $30 million per annum thereafter.
These statistics are sourced from an Economic Benefits and Needs Analysis Report, produced by Sanad Capital, found that the new master development will offer employment opportunities for the young which could lower the above average youth unemployment figure of 8.9%. And with the Sunshine Coast’s new airport plans, visitors are set to double by 2030.
Sanad Capital’s Chief Executive, a Queenslander himself, Bradley P. Sutherland said, “We are very serious about growing the economy here and tourism is one of the four pillars the State Government is also focused on. Our master ‘Active Lifestyle’ hub is located in the tourist corridor and will contribute to the consolidation of active leisure and tourist attractions in the Sunshine Coast region.
Emulating the grandeur and wow factor of some of Dubai’s Tourists attractions and events including water parks and lifestyle hubs, the Sunshine Coast project will comprise a world’s first ‘WAVE RESERVOIR’, world class waterpark and extreme water sports facilities, a prestigious sports training and development centre, as well as a 4 star hotel, a exhibition and conference centre, cafes & restaurants, international and local retail outlets and onsite car parking.
“We will create thousands of jobs for Queenslanders and are looking to longer term benefits as the depth of the activities we are bringing will encourage visitors to stay longer which will have a positive knock on effect on expenditure in the local economy,” says Sutherland.
The project is set to offer 2000 direct and indirect jobs throughout construction, adding $60 million per year to the economy throughout the build phase, totaling $260 million to completion.
On the Sunshine Coast, the current hotel market is under represented because of the risk associated with this type of development. The hotel component will be a major attraction for the Coast and help the region compete with Brisbane and the Gold Coast, as new brands start to enter the market.
“Essentially, this will strengthen the viability of the surrounding tourism infrastructure and increase the area’s competitiveness as a regional and international tourist destination,” adds Sutherland. “Currently, the Sunshine Coast attracts nine million tourists per annum with an average stay of 13.4 nights,” he added.
Mooloolaba-based Sanad Capital is led by founder and CEO Bradley P. Sutherland, a Queenslander returning home after 21 years in Dubai where he spent his time building a diverse range of special projects and investment ventures.
More details on the master development will be released later this month and construction is due to begin in 2017.
First conceptualised in 2014 and an offshoot of Dubai-based business group Najibi, Sanad Capital is a privately owned development and investment company. Located on Australia’s Sunshine Coast, the company intends to facilitate a diverse range of community-based and family-friendly projects, by tapping into significant reserves of capital, years of relevant experience and the know-how of its executives.
One of the company’s primary objectives is to boost tourism and generate new employment on the Sunshine Coast by investing in and developing multiple special projects.
Sanad Capital’s operations and business services span project funding, private equity, pre-IPO capital and joint ventures, and its areas of expertise include real estate development, as well as the technology, tourism, retail and energy sectors.