SANAD Capital Gets Sunshine Coast Council Development Approval
Mooloolaba, Sunshine Coast – February 16th 2017: Australia’s first Active Lifestyle project is coming closer to reality as the Sunshine Coast Council granted SANAD Capital, the company behind the project, development approval (DA) for phase 1 of the $400 million venture.
SANAD Capital announced the project after purchasing the 25 hectare plot on Steve Irwin way back in January 2016. And after collaborations with leading global companies such as Whitewater (responsible for the Asia’s largest projects including China’s Yinji Xinmi water park, WaterBom Bali, Vana Nava in Thailand, the Atlantis Resort and Wild Wadi Water Park in Dubai), Thinkwell from the United States, EY (Ernst & Young) and others, phase one of the development was submitted for Council approval in October 2016.
“We are very excited about receiving DA approval for the first phase of our project,” said Bradley P Sutherland, SANAD Capital CEO. “We expect to break ground over the next few months and look forward to bringing this development into reality.”
Phase 1, will be built over 14 hectares and will consist of a state of the art waterpark, a great lawn for major events, concerts and community activities, an outdoor adventure park with activities including kayaking, bungee jumping, net climbing, flyboarding, segways and electric skateboard hire, zorbing, stand-up paddle boarding and football to name a few. Phase 1 also includes a 6,000 square meter retail zone set to attract leading global brands and a superb choice of restaurants.
Visit Sunshine Coast (VSC), the region’s not-for-profit, membership based, destination marketing organisation, welcomed Council’s green light.
“The SANAD project will add significantly to the Sunshine Coast’s tourism and entertainment sector, and will be particularly effective for attracting domestic and international family travellers,” said VSC CEO, Simon Latchford. “This project, along with other long term investments such as our new airport, will elevate the Sunshine Coast’s ability to attract leisure travellers, groups and conferences, and will open the way for growth, jobs and further tourism investment on the Sunshine Coast.”
Phases two and three of the project will be submitted to Council in 2017, and these include a 4 star, 225 room family hotel with conferencing facilities, an action sports precinct with world class facilities for skateboarding, BMX, parkour and more, and the much anticipated ‘Wave Reservoir’, another first for Australia and the Sunshine Coast.
About SANAD Capital: First conceptualised in 2015 and an offshoot of a Dubai-based business group, 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. 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.