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A global expressions of interest (EOI) campaign is set to be launched later this month for the proposed $2 billion Gold Coast Arena project in Southport, planned as both a Brisbane 2032 Olympic and Paralympic Games venue as well as a premier destination for international touring artists, sports entertainment and major cultural events.
The City of Gold Coast describes the project as its biggest entertainment and sports investment in a generation.
"We are about to ignite a global investment wave with the opportunity for investors to partner on a legacy 12,000-plus capacity sports and entertainment arena," says City of Gold Coast Mayor Tom Tate.
"We will be seeking expressions of interest from major Australian and international consortia to enter a public private partnership to design, build, finance, operate and maintain the landmark venue.
"This is an early call to global investors to get ready for one of the most exciting, city-shaping opportunities in the Asia Pacific."
The proposed Gold Coast Arena is expected to be fast-tracked under the Brisbane Olympic and Paralympic Games Arrangements Amendment Act 2024, supporting streamlined approval and planning pathways ahead of an expected opening in 2030.
The arena is one of three key Gold Coast projects slated for the games, alongside an athlete's village at Royal Pines and a major upgrade to the Gold Coast Hockey Centre.
Invest Gold Coast chair Will Hodgman says the Arena will be operated on a long-term arrangement at Carey Park, Southport, in the heart of the Gold Coast CBD.
"We want to give investors the confidence and delivery certainty they need to get behind this project," Hodgman says.
"We are not prescribing the scope or terms, rather we’re inviting the international market to help shape this project with world-class expertise and ideas."
Hodgman says this is a unique chance for a world-class consortium to deliver a premier entertainment venue in one of APAC’s most vibrant cities, where there is enormous and expanding demand for music, sport, cultural and major events.
"What we are making clear today is that this opportunity is real, it is coming, and the Gold Coast market is ripe for investment," he says.
"The demand for a venue like the Gold Coast Arena has never been higher with the city’s youth under-20 population forecast to grow 38 per cent by 2041."
Live Performance Australia reported that Queensland hosted 4.9 million live performance fans in 2023 with the Gold Coast generating close to $1 billion in the music economy.
The arena construction is expected to generate up to $2 billion in economic output, support more than 6500 jobs and inject some $700 million into the regional economy.
Invest Gold Coast - the city’s dedicated investment and economic development agency - will lead the EOI process and seek innovative, market-led proposals.
The council claims the opportunity has already attracted early interest from potential investment partners from Southeast Asia, the USA and UAE.
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