MRCB appoints Versatile Construction as main contractor for $600 million 26 Vista tower

Malaysian developer MRCB International has appointed Versatile Construction to build its $600 million 26 Vista apartment tower in Surfers Paradise, with more than 70 per cent of residences already sold.

The appointment marks another milestone for MRCB International on the Gold Coast, where it now has two major apartment developments under construction with a combined end value of more than $800 million.

The 51-storey 26 Vista is rising in Northcliffe, at the southern end of Surfers Paradise, just a short walk from the beach.

Early works commenced in November last year, with the civil contractor now novated to Versatile as the project moves into its main construction phase.

Securing a builder is a significant step in the current construction environment, where rising labour and material costs, alongside limited subcontractor availability, continue to present challenges for apartment developers.

MRCB International Sales and Marketing Director Kevin Zhang said the appointment reinforced the developer's commitment to delivering 26 Vista and its confidence in the Gold Coast market.

“We’re delighted to be partnering with Versatile to deliver 26 Vista,” Zhang said.

“Our commitment to the Gold Coast reflects our belief in its long term fundamentals: strong population growth, enduring lifestyle demand and a genuine shortage of new, quality homes.”

Versatile Construction is part of Sydney-headquartered Versatile Group, which was established in 1974 and currently has more than $4 billion in work in hand.

Versatile's Head of Construction in Queensland, Ben Richardson, said the group's ability to manage its supply chain would provide greater certainty around construction costs, timelines and quality.

“Versatile Construction and MRCB are a natural strategic fit with a shared commitment to delivering excellence," Richardson said.

"Our approach to construction, controlling delivery across the entire supply chain, gives MRCB clear visibility of cost, programme and quality. That assurance strengthens buyer confidence that 26 Vista will be delivered as promised.”

The project is also expected to support hundreds of construction jobs and create opportunities for local trades and suppliers throughout the build.

Designed by Gold Coast architecture firm DBI Design, 26 Vista will comprise one, two and three-bedroom apartments, along with a limited collection of sub-penthouses and penthouses.

Two full floors will be dedicated to resident amenities, including wellness facilities, a cinema and a rooftop entertaining space with 360-degree views stretching from the ocean to the hinterland.

Downsizers have been the predominant buyers at 26 Vista, with more than 70 per cent of the building now sold.

The strong sales result comes as MRCB International progresses its second Gold Coast development, Maris in Southport.

The $200 million-plus Maris will deliver 192 apartments across 20 levels, with Australian-owned builder Binah appointed to deliver the project.

With both developments now under construction, MRCB International has established a significant residential pipeline on the Gold Coast, spanning two different markets in Surfers Paradise and Southport.

Construction of 26 Vista is expected to be completed in mid-2030.

A limited collection of apartments remains available, with prices starting from $1,865,000.