MRCB International has announced that it has secured funding from MBSB Bank for its AUD300m Surfers Paradise project, 26 Vista.
26 Vista is one of the few international projects that MBSB Bank has provided funding for giving the bank international exposure which will be for the greater Gold Coast community.
MRCB International CEO Ravi Krishnan said he is confident that 26 Vista, which features a contemporary design by acclaimed architects DBI, numerous sustainability initiatives and a stunning penthouse that is set to break price records for the suburb, will appeal to buyers, particularly those who may be apprehensive by the economic climate.
“The financial security MBSB Bank has provided through financing 26 Vista will allow our purchasers, and potential purchasers, the ability to feel protected from the consequences of the economic landscape surrounding our industry. “This is the first project we have undertaken on the Gold Coast, and we are determined to succeed and follow through with our
plans to introduce one of the most sophisticated projects ever seen in Surfers Paradise,” he said.
MRCB International will be appointing a builder for the project by end 2023, following a thorough procurement process involving select national building companies. “It is a precarious time for the construction industry and builders are needing to be savvy and highly selective when it comes to tendering for new projects. The financing from MBSB Bank has bolstered our ability to secure a builder with the knowledge that our financial status is secure and we will be able to deliver this project,” said Ravi.
The project is one of the most sophisticated towers to enter the Gold Coast market in recent years, simultaneously introducing innovative sustainability measures to future-proof the build, and an elegant design that harnesses verdant landscaping to create a harmonious and tropical aesthetic.
Vista is scheduled for completion in 2026.