Published Friday, 15 June, 2007 at 12:00 AM
Premier and Minister for Trade
The Honourable Peter Beattie
PREMIER SIGNS AGREEMENT FOR $80 MILLION SOUTH KOREAN DEVELOPMENT ON THE GOLD COAST
Premier Peter Beattie today signed an agreement with the Kyoritsu Consortium to give the South Korean companies involved an exclusive mandate to provide an $80 million student accommodation facility and an upgrade of facilities at the Gold Coast Institute of TAFE Ridgeway campus.
The Premier and Mr Chung Lee, Director of Queensland Accommodation today signed a Memorandum of Understanding for an Exclusive Mandate for the 600 room development.
“This proposed development will create hundreds of jobs during construction and see the Ridgeway TAFE completely rebuilt,” the Premier said.
“During my trade mission to South Korea in May I announced that my Government was entering into commercial negotiations with the Consortium.
“Today’s MOU signing is the first step in the Kyoritsu’s plans to develop and operate much needed international student accommodation facility on the Gold Coast.
“The development is particularly important as the Consortium has agreed to the complete redevelopment of the Ridgeway Avenue Campus.
“It will commit approximately $6 million to finance, design and construct new teaching and administration facilities.
“The TAFE will also benefit from the Consortium’s commitment to provide 300 international students per year who will enrol at the Gold Coast campus.
“The project is expected to result in significant ongoing economic benefits for the Gold Coast and create some 300 jobs during construction.
“For its part, the Queensland Government will provide a lease over the land which will revert to the Government at the end of the lease period.”
Normal planning and development approvals, including an environmental impact evaluation and community and local government consultation will be required before the project can proceed.
It is hoped construction will begin in mid-2008, with students using the accommodation and new TAFE facilities by mid-2009.
Consortia members include a specialist student placement agency to market Gold Coast TAFE to Korean students. At present Korea represents one of the biggest international student markets for Gold Coast TAFE, with other international students coming from Japan, Thailand, Emirates, Brazil, the United States, United Kingdom and France.
The Ridgeway Avenue Campus specialises in Access Education and Language studies. Access Education is focused on providing education opportunities to students who otherwise might not access higher education, such as migrants and disadvantaged young people.
This supportive environment and language specialities also make it ideal for international students.
International students currently come to the Gold Coast Institute of TAFE for courses in Tourism, Hospitality, Language Education and Business.
International students pay up to $14,000 per year for a Diploma course; while Government funded Queensland students pay about $2,000.
After this re-development the Gold Coast Institute of TAFE will be ideally placed to capitalise on the international student market.
Friday June 15, 2007
Media contact:
Premier’s Office – 3224 4500
The Premier and Mr Chung Lee, Director of Queensland Accommodation today signed a Memorandum of Understanding for an Exclusive Mandate for the 600 room development.
“This proposed development will create hundreds of jobs during construction and see the Ridgeway TAFE completely rebuilt,” the Premier said.
“During my trade mission to South Korea in May I announced that my Government was entering into commercial negotiations with the Consortium.
“Today’s MOU signing is the first step in the Kyoritsu’s plans to develop and operate much needed international student accommodation facility on the Gold Coast.
“The development is particularly important as the Consortium has agreed to the complete redevelopment of the Ridgeway Avenue Campus.
“It will commit approximately $6 million to finance, design and construct new teaching and administration facilities.
“The TAFE will also benefit from the Consortium’s commitment to provide 300 international students per year who will enrol at the Gold Coast campus.
“The project is expected to result in significant ongoing economic benefits for the Gold Coast and create some 300 jobs during construction.
“For its part, the Queensland Government will provide a lease over the land which will revert to the Government at the end of the lease period.”
Normal planning and development approvals, including an environmental impact evaluation and community and local government consultation will be required before the project can proceed.
It is hoped construction will begin in mid-2008, with students using the accommodation and new TAFE facilities by mid-2009.
Consortia members include a specialist student placement agency to market Gold Coast TAFE to Korean students. At present Korea represents one of the biggest international student markets for Gold Coast TAFE, with other international students coming from Japan, Thailand, Emirates, Brazil, the United States, United Kingdom and France.
The Ridgeway Avenue Campus specialises in Access Education and Language studies. Access Education is focused on providing education opportunities to students who otherwise might not access higher education, such as migrants and disadvantaged young people.
This supportive environment and language specialities also make it ideal for international students.
International students currently come to the Gold Coast Institute of TAFE for courses in Tourism, Hospitality, Language Education and Business.
International students pay up to $14,000 per year for a Diploma course; while Government funded Queensland students pay about $2,000.
After this re-development the Gold Coast Institute of TAFE will be ideally placed to capitalise on the international student market.
Friday June 15, 2007
Media contact:
Premier’s Office – 3224 4500