QLD property developer looks to cash in on retirement living sector

Peter Huang, the founder of the Brisbane-based Yong Real Estate, has revealed he will lodge applications for retirement village developments at two 18-hole golf courses, according to the Courier-Mail. The villages will be built at the 40ha Karana Downs Golf Course in Brisbane, which Mr Huang recently bought for $2.2M. The club had closed in 2011 after being inundated during the Brisbane floods before reopening in 2013. A second is also planned for the 330ha Kooralbyn Valley golf resort, southwest of Brisbane, which he bought from liquidators in 2014 and has since spent $10M revamping the course and opening a 100-room hotel. “We want to expand our portfolio of golf assets and intend to have multiple courses in the future,” Mr Huang told the paper.