Fung affirms commitment to Yorkeys Knob project

Saturday 25th of April 2015

Aquis Group chairman Tony Fung said he is “totally committed” to the Aquis Great Barrier Reef Resort project at Yorkeys Knob despite speculation in local media that is little political backing of the project.

“There has been much speculation in recent months about the future of the project. I want to assure you we remain totally committed to bringing Aquis Great Barrier Reef Resort to fruition,” wrote Fung in an open letter to the community.

The letter follows speculation that the change of government in Queensland could delay plans to build the $8 billion mega-resort in Cairns, which would include 7500 hotel rooms, two casinos and an artificial lake and lagoon.

Fung also clarified that despite showing focus on his other Australia venture he will not abandon the Yorkeys Knob project.

“The Aquis Group has recently taken steps to increase its exposure to the Queensland tourism and property industries. This is in addition to our recent announcement that we are seeking to list Casino Canberra on the Australian Stock Exchange (ASX).”

“All of these investments, and any future investments, should be seen as reinforcing our commitment to Australia, Queensland and the Aquis Great Barrier Reef Resort. In no way do our recent investments diminish our commitment to the Yorkeys Knob project,” he said, adding that the company is in the process of negotiating with the Queensland Government on the best way to progress the project.

“We have been very encouraged with our interactions with the new Queensland Government and their attitude to investment has been one of the drivers of our desire to further invest in the State.”