Annie Cannon-Brookes Purchased Dunk Island for an Undisclosed Sum

Annie Cannon-Brookes, the wife of tech billionaire Mike Cannon-Brookes, has settled on Dunk Island in Far North Queensland for an undisclosed sum with plans to rejuvenate the faded resort. The island is one of only a few freehold islands on the entire Great Barrier Reef. The former "Dunk Island Resort" operated as a 4.5-star family resort featuring 160 guest rooms, a 9-hole golf course, multiple food and beverage outlets, tennis courts, and a day spa. The transaction reinforces the appeal of investment in coastal locations and the sentiment of leisure travel across Australia.

 

Shibuya Upper West Project Mixed-Use Project Revealed with Swire Hotels Debut in Japan

Japan-based Tokyu Corporation, US-based L Catterton and Japan-based Tokyu Department Store have jointly revealed the mixed-use project of Shibuya Upper West Project (“SUWP”) in Tokyo’s Shibuya district. Situated in the heart of Shibuya district, the SUWP will feature a small luxury hotel, high-quality retail and rental residences. Swire Hotels, the subsidiary of Hong Kong-based Swire Properties, will bring the first The House Collective to Japan, and mark the first luxury hotel in the Shibuya district. Targeting completion in the fiscal year 2027, the SUWP will become the ‘super-connector’ and landmark in Shibuya, with prime access to large parks and public transportation.

 

Green-light on AUD86 million Co-Living Development as Approved by Government

The Sydney-based residential and commercial development company, Sasco Development (“SD”), has been approved by the Land and Environment Court ruling to proceed with its AUD86 million development project. Despite the project building exceeding the heights development standard by 7.3m, the court ruled that sufficient environmental planning grounds had been established to justify the breach. The development plan consists of a large-scale mixed-use development comprising four buildings up to seven storeys in Sydney’s northwest featuring 133-room apartments and a 162-room co-living facility. The proposal also includes a new plaza that links Meadowbank shops to the nearby train station, 4,243 square metres of commercial floor space, a ground-level retail area, and 419 car parking spaces.

 

Hong Kong Airport gets USD18 billion Expansion

Hong Kong Airport has opened its third runway on 8 July 2022. The third runway is part of a USD18 billion project that will increase approximately 50% of the footprint, expanding Hong Kong Airport by 650 hectares. An HKD20 billion project conducted by a local conglomerate New World Development is under construction that consists entertainment, retail, and commercial complex. The project aims to solidify the city’s role as a global aviation hub, despite the government’s flight bans and quarantine rules taking down the demand for air travel to and from Hong Kong. Merely 545,000 passengers passed through the airport in the first five months of 2022, which is a fraction of 31.4 million passengers in the same period of 2019.

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