Thakral Corporation’s Australian associate GemLife is set to develop an A$428 million ($353.45 million) lifestyle resort in Queensland targeting the over-50s downsizers, according to a release dated Apr 10.
The resort, called GemLife Elimbah, spans 26 hectares, and will feature 404 homes. Each will be with two bedrooms and a multipurpose room. This is GemLife’s third resort in Moreton Bay, following GemLife Bribie Island and GemLife Moreton Bay.
“Land lease communities are increasingly appealing, as they offer a low maintenance, secure and relatively affordable option – not to mention the opportunity to live alongside like-minded neighbours, build new social connections and stay healthy through the onsite amenities,” says GemLife’s director and CEO Adrian Puljich.
“We’re anticipating interest from people across Moreton Bay, the Sunshine Coast and Brisbane, who are looking to downsize to an easy-going and leafy part of the South East that’s close to everything, from shops and cafes to medical services and transport,” he adds.
Shares in Thakral Corporation closed 5 cents higher or 6.667% up at 80 cents on Apr 10.
