Crown reports strong interest for Sydney residences

Crown Resorts said it has seen strong interest from international and local buyers for its residences at its new Barangaroo resort in Sydney.

The resort is on the foreshore of Sydney Harbour and will be the city’s first six-star hotel. It will feature 349 hotel rooms and suites, luxury residences, signature restaurants, bars, luxury retail outlets, pool and spa facilities, conference rooms and VIP gaming facilities.

The company says completion is scheduled in the first half of calendar year 2021 and the total gross project cost is expected to be approximately $2.2 billion, with a net project cost of approximately $1.4 billion.

“We believe that Crown Sydney will become an international tourism icon and will help Sydney attract high net worth travellers from all parts of the world,” executive chairman John Alexander said in the company’s annual report.