TOWER PLEDGE
CONSTRUCTION on Nova City’s first tower is expected to start within six months – but buyers are frustrated by a lack of communication about the Cairns CBD project’s delays.
World Class Global, a subsidiary of Chinese developers Aspial, has given an undertaking that builders will start on the first of seven towers associated with the $550 million luxury residential project later this year.
It has been nearly five years since Aspial, headed by the Singapore-based business magnate Koh Wee Seng, lodged its initial development application for the CBD project with Cairns Regional Council.
Since then, however, there has only been foundation works and a sales office established at the Spence St site.
World Class Land sales director Zak Thaker assured the project was still very much progressing, adding that the company needed to make sure it “ticked a lot of boxes” before construction started in earnest.
“We’re just finetuning at the moment with the builder, before we start on tower 1,” he said.
“We’re doing a few design changes internally and a few things that the builder has recommended.
“I don’t have an exact construction start day, because we’ve still got to wait for the builder to come back to us with the new plan, and then get a new quote for that. “But it’s not too far off – six months maximum to get something up and running.”
Earlier this year, the company reported that more than 50 per cent of the first-release units in the plan had already been sold off the plan, with 90 per cent bought by Australian buyers, including many Far North Queensland residents.
All three-bedroom subpenthouses have been sold.
Mr Thaker said the sunset clause in the contracts of residential unit buyers dictated that work needed to get underway soon.
“By 2030, we’ll probably have the whole development done,” he said.
One Nova City residential unit buyer, who did not want to be named, questioned the lack of communication about the project and its delays.
“While we understand the delays with the construction, updates around the delays haven’t been communicated to people who have bought a year ago,” they said.
“We have to read this information in the local newspaper.
“We have no doubts that the project will go ahead, but the lack of communication has certainly been a little disappointing.”