Aniko Group, the esteemed Gold Coast private developer led by George Mastrocostas, is poised to break ground on its latest venture, the $150 million Orama apartments at Chevron Island. This project marks another milestone in Aniko’s prolific portfolio, which has surpassed $2 billion in developments.
Orama, upon completion, will feature 102 residences, presenting an array of options including two-bedroom apartments ranging from $995,000 to $1.45 million and three-bedroom skyhomes starting at $1.995 million. Notably, these residences will offer panoramic views overlooking the central Gold Coast skyline.
Designed by Plus Architecture, the project is positioned to attract local downsizers and interstate migrators. Orama has garnered substantial interest in the market, positioning it for a successful sellout. Aniko Group Managing Director, George Mastrocostas, expressed satisfaction with the project’s reception, stating,
“We are thrilled with the take-up of Orama, which has been highly competitively priced and offers some of the best quality amenities in the precinct.”
Mastrocostas emphasized that every aspect of Orama has been meticulously planned, from the quality of the apartments to the 550sqm rooftop recreation area comprising a gymnasium, pool, spa, residents lounge, and other amenities.
The completion of Aniko’s transformative inner Hope Island developments, a culmination of a five-year journey, has paved the way for the initiation of construction on Chevron Island. Mastrocostas remarked, “Our Hope Island experience has allowed us to accelerate our brand awareness beyond the Gold Coast, and we are certainly excited about delivering Orama to new customers.”
The strategic shift to Chevron Island follows the triumphant completion of Hope Island’s extensive suburb transformation, where Aniko achieved sales exceeding $500 million for its residential apartments and townhouses. The success in Hope Island, a testament to Aniko’s commitment to quality and innovation, has set the stage for the commencement of the Orama project.
Construction is set to commence in November, with an estimated 18-month timeline, culminating in the project’s completion in early 2025. Since its market launch earlier this year, Orama has already achieved almost $100 million in unconditional sales.
Mastrocostas noted that some buyers have transitioned from existing Chevron Island projects or from developments that have yet to proceed. Furthermore, Aniko Group has ambitious plans for the central Gold Coast, including the proposed $2 billion Seaview master-planned precinct at Mermaid Beach, currently under consideration by the council.
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