Construction kicks off on $200M absolute beachfront apartments COAST by Sammut Group

GOLD COAST, AUSTRALIA: The delivery of six-star luxury development, COAST, on the Gold
Coast is officially underway following a ground-breaking ceremony with construction giant
Multiplex today (Tuesday November 15).

The $200 million, 37-level project by Sydney-based developer Sammut Group in partnership
with Alceon Group comprises an unrivalled collection of 53 generous residences that are set
to redefine luxury living.

With the previous apartment building at 43 Garfield Terrace now demolished, Multiplex will
be on site immediately with COAST slated for completion in early 2025.

Sammut Group Chief Operating Officer Julian Sammut says the construction start is a
testament to the strength of the iconic project, which has continued to persevere despite the
recent raft of issues confronting the construction industry that has seen many other Gold
Coast projects slow or stall.

“This is a great moment for the project, the many buyers who have been quick to be part of
this opportunity, and for the Gold Coast. We have secured a fantastic partnership with
Multiplex, who have an exceptional record of premier projects, which is what we demand for
COAST,” he says.

With all but a handful of apartments left, the project broke records at launch achieving an
average per apartment price of $5.25M. The project has drawn local downsizers wanting a
lifestyle up-size; and buyers from Toorak, New Zealand, and Sydney’s Eastern Suburbs,
Northern Beaches and Sutherland Shire wanting a second home.

The 53 residences include 38 x 290sqm half-floor villas, 2 x 466sqm double-storey sky
homes, 11 x 580sqm full-floor sub penthouses and an opulent 1,130 sqm penthouse set
over two levels and featuring a private rooftop pool and amenities.

COAST’s amenities include a 32m wet edge pool that wraps from the east to north, a yoga
studio, massage rooms and sauna, function facilities, residential beach bar, breakout areas
and a commercial-sized gym.

Residents at COAST will also be treated to their own concierge, with premium services to
include home cleaning, restaurant bookings, airport transfers, dry cleaning, car washing,
entertainment bookings and food / beverage delivery.

Multiplex has been responsible for the delivery of several of South-East Queensland’s most
high-profile developments, including Destination Gold Coast Tower 2 at Star Residences,
Queens Wharf Brisbane, Jewel Gold Coast, and the W Hotel Brisbane.

Multiplex Regional Director Glenn Robinson says his team is excited to partner with
Sammut Group to deliver an iconic project for the Gold Coast.

“We are delighted to be working with such a well credentialled developer as Sammut Group
on such an iconic development for the Gold Coast.

“This is a higher end product than anything else we’ve delivered on the Gold Coast with its
beautiful architecture, joinery and stonework. It will really challenge anything else available
on the coast in terms of quality,” says Mr Robinson.

Highland Property Chief Executive Officer David Highland says COAST drew significant
interest from launch, with buyers so keen to secure an apartment, they paid upfront holding
deposits of $50,000, sight unseen.

“The strength of the Sammut Group brand, and the implicit quality that comes with that has
been a major selling point, in addition to the extraordinary absolute beachfront location. At a
time where many other projects are facing some major challenges, COAST is forging ahead
because of Sammut Group’s determination to deliver and the great partner they’ve found in
Multiplex,” he says.

Sammut Group Chief Executive Officer Allen Sammut says he is pleased with the
progress of Sammut Group’s expansion into Queensland following an award-winning run of
projects in Cronulla, Sydney, which started – ironically – with a project called ‘Coast’ and
now include Drift, Nautilus, Breeze, Loft and Banc and the recently launched Vue.

“We have built up a very loyal fan base who love and trust the Sammut Group brand and
what we stand for and their keen interest in our first Gold Coast development is evidence of
that,” says Allen.