Latest news with #resortdevelopment
ABC News
3 days ago
- Business
- ABC News
United Petroleum directors seek more time to begin Brampton Island resort revamp
The developers of a tropical Queensland island abandoned for more than a decade have asked for more time to build a new resort. Avi Silver and Eddie Hirsch own the Australia-wide chain of United Petroleum service stations, and also own the company that has held the lease for part of Brampton Island in the state's north since 2010. They are now asking for five-year extension to build a resort on the island. But the state MP for the area has called for the local council to deny their request. Member for Whitsunday Amanda Camm said the owners were difficult to contact in her time as the council's deputy mayor. Several islands sit dilapidated across north Queensland following the impacts of cyclones, including Great Keppel (Woppa), South Molle, and Lindeman. On Brampton Island, the former resort's swimming pool is full of sand and the villas, some dating back to the 1960s, are damaged. Plans to build accommodation villas, a rock pool and a yoga studio were approved in 2015, as part of a "boutique-style" proposal catering for a maximum of 30 guests. The developers requested the extension this week to allow them to continue negotiations with the Queensland government over several matters, including the reinstatement of a jetty removed by Transport and Main Roads (TMR) in 2015. In a statement, TMR said the jetty was demolished after damage by Cyclone Dylan, and "the resort owner, at the time, advised they were not prepared to assume ownership of the jetty, or become manager" if TMR repaired it. In 2017, Mackay Regional Council extended the currency of the development application until 2023 and the state government then extended the development application by another two years. The latest application was submitted on July 7, a day before that extension was due to expire. A spokesperson for the council said it had received the application, which would proceed through the usual development assessment process. The company also said it was negotiating with the state government to redevelop infrastructure not only in the national park but on nearby "unallocated state land". While Mackay Regional Council are responsible for approving the development application for the resort, the lease held by Brampton Enterprises lies with the Queensland government. A perpetual lease for parts of the resort area was granted to the previous leaseholder in 1968 for tourism development and later inherited by Brampton Enterprises. The company has said that without access to adjacent state land, it would now be unable to "lawfully upgrade" critical infrastructure. Island tourism is big business in Queensland. In the 12 months to June 2024, the tourist spend in the Whitsundays and mainland destinations like Airlie Beach was $1.4 billion, an increase of 16 per cent on the previous year. A 2023 Queensland parliamentary report into island tourism recommended the resources department cancel tourism operators' leases if they were audited and found noncompliant with conditions within the past three years. In its latest development submission, Brampton Enterprises said its planned development had not changed since the initial plan was approved in 2015. But it said it needed more time to repair key infrastructure like the jetty, water and sewerage to "support the intended redevelopment". Ms Camm said she wanted to see the "rubber hit the road", as success stories along the Queensland coast had shown there was a market for island resorts. "There's new product and a new offering out there," she said. Brampton Enterprises has been contacted for comment.
Zawya
19-06-2025
- Business
- Zawya
Egypt's Elsewedy Electric to supply power solutions for first resort in Ras El Hekma
Elsewedy Electric announced on Thursday that it has been selected by Abu Dhabi-based developer Modon Holding to provide power infrastructure for the first resort in Ras El Hekma mega project. The ADX-listed Modon Holding was appointed as the master developer for Ras El Hekma by ADQ Holding in October 2024. Elsewedy Electric, listed on the EGX, said in a statement that it will supply advanced dry-type transformers and install high-performance Busway systems as part of the resort's energy infrastructure. The resort is currently under construction and forms part of a broader investment strategy to transform Ras El Hekma into a high-end coastal destination, the statement noted. In addition to being master developer for Ras Al Hekma's 170 million square metres (sqm) area, Modon Holding is also the developer for the first phase of the city consisting of 50 million sqm. (Writing by Eman Hamed; Editing by Anoop Menon) (
Zawya
15-05-2025
- Business
- Zawya
Egypt: Orascom Development turns profitable in Q1 2025
Arab Finance: Orascom Development Egypt has generated consolidated net profits after tax attributable to the parent company amounting to EGP 2.044 billion during the first quarter (Q1) of this year, versus net losses worth EGP 1.181 billion in Q1 2024, as per the firm's financial statements. Revenues jumped to EGP 6.441 billion during the January-March period of 2025, up from EGP 4.175 billion in the same period a year earlier. On the standalone business front, the firm also garnered profits totaling EGP 2.204 billion in net profits after tax, while it incurred EGP 1.550 billion in net losses after tax in the first three months of 2024. ODE, the largest subsidiary of Orascom Development Holding (ODH), is a developer of resort towns, residential units, hotels, and recreational facilities such as golf courses, town centers, and marinas, in addition to supporting infrastructures, such as hospitals, schools, and utilities. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
