Australian tourism and hospitality group, Crystalbrook Collection, today announced its acquisition of The Reef Marina in Port Douglas, which is now to be known as Crystalbrook Superyacht Marina, and their intention to invest a further $100+ million into the marina.
Acting Premier and Treasurer, Curtis Pitt, said that the announcement was encouraging for investment in Port Douglas and Far North Queensland.
“Today’s announcement demonstrates confidence in the tourism industry in Far North Queensland and our future economic growth,” Mr Pitt said.
“It is great news for the Port Douglas community, creating jobs and booting the local economy.
“It is also timely, considering the development of the Palaszczuk Government’s new superyacht strategy which I announced in August.”
Crystalbrook Collection owner, Ghassan Aboud, said: “With our plans, we believe we can redefine the Australian marina experience and ensure Port Douglas is an essential-visit location for high-end global travelers.”
The expansion of the marina, to be known as Crystalbrook Superyacht Marina, is set to include an additional 24 berths to the existing 132 berths and able to accommodate superyachts of up to 50 meters in length.
The work is expected to generate more than 600 jobs during construction and around 240 permanent jobs post completion.