The Melbourne skyline is set to see its first Shangri-La hotel, creating over 1000 jobs for the large-scale $565 million redevelopment.
The ground breaking ceremony was held yesterday for the development, boasting plans for two twin towers at 60 and 62 levels. The builder was announced as Multiplex, as well as a luxury 300-apartment complex, called ‘Sapphire By The Gardens’, headed by Malaysian developer SP Setia.
The chosen location is a former Telstra site, on the corner of Exhibition St and La Trobe St. Its two towers will be joined by an impressive sky lounge on the 46th floor. The premium location is opposite Carlton Gardens and is answering the call for premium apartments in the CBD. The development for luxury living is also bringing significant job opportunities for the large-scale project.
According to Choong Kai Wai, head of Setia’s Australian operations, over 95 per cent of the apartment tower is already sold. “There is substantial demand for premium, highly liveable and world-class residential apartments in Melbourne’s CBD,” he said.
Lord Mayor Sally Cap is also on board, viewing it as an iconic project in Melbourne that will tie together existing iconic Melbourne buildings. “We will have our oldest iconic building, the Royal Melbourne Exhibition Building, looking on as our newest iconic building, with its sky bridge, is built,” she said. “Projects such as this, with its enormous scale, are all-important in terms of investment and development.”
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