The project will see the Parkwood Golf Course site transformed into a surf park, golf course and hotel with dedicated event space and other hospitality offerings also featuring. The project is being back by retired Australian surfer, Mick Fanning.
“This funding is the Queensland Government backing our vision for surf and the Gold Coast,” said Fanning.
“Surf is at the heart of Palm Valley, with golf, hospitality and events built around it.”
Luke Altschwager, managing director of Parkwood Village, the site of Palm Valley, said the funding “will allow us to deliver a unique blend of surf, sport and hospitality, attracting visitors from across Queensland and beyond”.
Construction on the surf park is expected to begin this year, with an opening forecast for 2028. Development of the hotel element is expected in a later phase of the project.
The state government has contributed to the project via its $80 million Tourism Icon Investment Fund. Recipients must at least match the government funding provided.
Six other projects have been awarded financing in the first round of the fund, with individual commitments ranging from $677,000 to $5 million.
Funded projects include eco-tourism offerings around the Brisbane river, a revamp of the Big Pineapple and the creation of Australia’s largest zipline, which will also be located on the Gold Coast.
