How the multi-billionaire Sultan of Brunei created a weird actual property nightmare on the Gold Coast by leaving a $30million block of land untouched for many years
An actual property nightmare has been effervescent away within the Gold Coast for many years A major spot of land has been sitting vacant whereas the realm has been developedThe multi-billionaire Sultan of Brunei appears to have forgotten in regards to the land
An actual property nightmare has been effervescent away within the Gold Coast after the multi-billionaire Sultan of Brunei let a major plot of land sit vacant for many years.
Nestled amongst extravagant high-rise buildings, meters from the seaside in Surfers Paradise, is the 7558sqm chunk of land property builders could be determined to get their palms on.
However the proprietor, believed to be the Sultan of Brunei, Hassanal Bolkiah, appears to have forgotten about it, information.com.au reported.
Nestled amongst extravagant high-rise buildings, meters from the seaside in Surfers Paradise, is the 7558sqm chunk of land property builders could be determined to get their palms on
The land was purchased for simply $15million and has since ballooned to about $30million
The land, which sits between the Esplanade and Surfers Paradise Boulevard, was bought in 1997 by Dermajaya Properties (Southern Pacific) Sdn Bhd, a part of the the Brunei Funding Company (BIA).
It was purchased for simply $15million and has since ballooned to about $30million.
Six years in the past possession of the land was transferred to Sejahtera Two (Australia) Pty Ltd.
Surfers Paradise has flourished for the reason that L-shaped land was bought over twenty years in the past, with a number of high-rise developments reworking the vacationer city right into a extremely coveted vacation vacation spot.
The Sultan of Brunei, Hassanal Bolkiah (pictured), appears to have forgotten in regards to the empty land within the Gold Coast
The extremely sought-after location has been closely developed – anticipate the one a part of land
Surfers Paradise seaside is in excessive demand with builders because of its thriving tourism business
Gold Coast mayor Tom Tate has been attempting to see one thing occur to the land for years.
In 2012 he tried to get Sultan Hassanal to donate the land to town.
‘I believe he is had lengthy sufficient to do one thing with it,’ he instructed The Australian on the time.
‘How about bequeathing it to the council and I will dedicate the park in his honour? It is a win for him. The Sultan has huge holdings all over the world so he in all probability does not even know he owns it.’
Mr Tate extra lately instructed the Gold Coast Bulletin his workplace would ‘proceed to liaise with the Sultan of Brunei with a view to seeing this property finest utilised for the advantage of the Gold Coast neighborhood’.
Sultan Hassanal’s private wealth has been estimated at $27.7 billion, he lives within the largest royal residence on the earth and boasts a formidable property portfolio.
Public consideration has turned to Sultan Hassanal since a brutal new legal code was launched within the small nation final week.
Legal guidelines embrace dying by stoning for homosexual intercourse and adultery, and public flogging for abortion.
Because the new legal guidelines have been introduced there have been calls to boycott his inns, which incorporates The Dorchester in London and the Beverly Hills Resort in Los Angeles.
Share or touch upon this text: