Crown has signed an agreement with Lend Lease Corp., Millers Point, New South Wales, Australia, to build a new luxury hotel in the A$6 billion (US$6.3 billion) Barangaroo South development currently under construction on Sydney Harbour.
The project, which still awaits building approvals from the New South Wales state government, is contingent on Southbank, Victoria, Australia-based Crown Ltd receiving permission from lawmakers to add a casino exclusively for big spenders to the property. Currently Echo Entertainment Group has exclusive rights to operate casinos in New South Wales until 2019.
“My desire is for Crown to build the best hotel in the world at Barangaroo. Barangaroo is a landmark development for Sydney and will transform the western corridor of the CBD. Crown is delighted to have the opportunity to be a part of Barangaroo and we look forward to working with Lend Lease to bring the internationally recognised Crown brand to Sydney,” said James Packer, executive chairman of Crown.
News of the proposed Sydney project comes on the heels of Crown’s announcement that it would build Perth’s largest hotel starting next year.