Hong Kong Firms Take Over Queen's Wharf Project

0:00Two Hong Kong investors just took full control of Brisbane's Queen's Warf project. Star Entertainment sold its entire 50% stake in the destination Brisbane Consortium to Chow Thai Fook Enterprises and Far East Consortium. Now those two firms each own 50%, making them the sole owners after Star's complete exit. The deal wraps up months of negotiations that started back in February last year. Star announced the final sale to the ASX this morning, and both Hong Kong partners confirmed it right away. Along with Queen's Warf, Star hands over the Treasury Hotel, a car park on Charlottes Street, and another nearby lot. This shift comes after Star signed the agreement in August, putting an end to the on-off talks. The company walks away with $53 million in cash, plus new stakes in gold coast hotels near its casino operations. Members from the Hong Kong firms say the move locks in long-term stability for the project and its workers. They remain fully committed from day one and view Brisbane as a rising global city, ready

1:02to push Queen's Warf as a top spy for tourism and entertainment under strict standards. With these new owners during the shift, Queen's Warf looks set to keep building toward that world-class vibe everyone's banking on. That wraps Sydney News Today, brought to you with AI. I'm Corey with The Story.