Far East Consortium International Limited (FEC) recently announced the signing of a contract to purchase two lots in West Australia’s Perth City Link project. The mixed-use development located adjacent Perth Arena will deliver over 350 residential apartments and 250 hotel rooms managed by Dorsett.
The $219million development is the second Perth project for the Hong Kong company which earlier this month commenced construction on The Ritz-Carlton hotel and apartments at The Towers at Elizabeth Quay.
“The Liberal National Government has invested millions of dollars in major projects that are redefining our city and returning significant benefits to West Australians through land sales, new hotel accommodation, tourist destinations and diverse living opportunities,” Planning Minister Donna Faragher said.
“With more major business, sporting and entertainment events coming to Perth, we must provide the hotels, restaurants and public spaces needed to support our growing tourism economy and welcome the thousands of visitors to our State each year.”
The Liberal National Government has invested more than $1billion in the Perth City Link project since 2008, including demolition of the Perth Entertainment Centre and completion of Perth Arena, sinking part of the Fremantle rail line, the new $217million Perth Busport and construction of Yagan Square which is well progressed for opening in mid-2017.
Mrs Faragher said the Government’s investment had removed physical barriers making way for land sales and new connections between the city and Northbridge.
“Later this year, construction on the first vehicle connection linking King Street with Lake Street in Northbridge will commence, creating an inviting public open space near the western bus portal.”
“That connection will be closely followed by the new William Street Mall and completion of Perth’s newest destination, Yagan Square,” Minister Faragher said.
Mr. David Chiu, Chairman of FEC said the Group is very confident that the rapid growth of Asian visitors to Australia will continue and, in particular, we expect the beautiful city of Perth will become an important destination after its CBD projects are completed.
“We are committed to building exciting inner city living opportunities and the Perth City Link location has fantastic connection to food, entertainment and public transport options as well as being within walking distance to the office precinct. These are key ingredients for potential residents.”