The $700m Darling Harbour development, The Ribbon, will see Sydney's iconic IMAX theatre demolished and replaced by a luxury hotel, serviced apartments and a revamped IMAX cinema.
IMAX Sydney Chief Executive Mark Bretherton has welcomed the development, saying the project is an opportunity to get new technology, the latest IMAX surround sound and new IMAX laser projection as well as wider, more comfortable seats, allowing for a brighter, sharper, better picture and experience.
Although the screen at the new IMAX cinema will be slightly smaller, it will still be the biggest in the world.
The distinctive building was designed by architecture firm HASSELL and is being built by Grocon.
Artist Impression of The Ribbon. Source: Grocon
Grocon has secured Starwood to operate the hotel as a W Hotel, with the 402-room property to mark the brand's return to Sydney.
Grocon has also won the backing of Chinese investor Zhengtang for the complex. Zhengtang will raise capital from China to finance The Ribbon Hotel and Residences and it is also supporting another Grocon project in Sydney’s suburbs.
The project is expected to be completed in 2019.
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Source: The Australian, The Daily Telegraph
Probuild has recently signed a design and construction contract with Greenland Australia for the completion of phase two of the Greenland Centre Sydney, within the $700 million budget allotted for the project.
A shortlist of tenderers has been announced for the design and construction of the New England Highway bypass of Singleton, taking the $700 million project a step closer to being built.
The much-awaited New England Highway bypass at Singleton in New South Wales is now a step closer to becoming a reality with the appointment of a contractor to design and build the $700 million project.
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