Ghassan Aboud begins building, brands first ACT hotel
Syrian born Dubai-based billionaire businessman Ghassan Aboud has kicked off construction and branded what will be his first ACT hotel, in Canberra’s CBD.
Crystalbrook Aurora is set to open at the south east corner of Bunda Street and Garema Place in 2027.
It is the second guesthouse Mr Aboud’s luxury hotel brand, Crystalbrook, is building since arriving in Australia nine years ago.
The other, in Adelaide, is scheduled to open next year.
The brand is also behind inns at Brisbane, Byron Bay and Newcastle.
It trades from three properties in Cairns too and two in Sydney.
A Crystalbrook rebrand is also mooted longer term for the Rydges Sydney Harbour complex at The Rocks which Mr Aboud bought for c$100 million in 2022.
The executive also owns more than a dozen Australian restaurant investments, three spa houses and the Crystalbrook Superyacht Marina in Port Douglas – the latter which he was trying to sell last year.
In 2023 the businessman divested two North Queensland cattle stations for a combined $21m.
Crystalbrook Aurora
Mr Aboud sealed a deal with Tony Pan’s TP Dynamics last April to develop the 10 level office with 238 suites.
Mr Pan had only a year earlier outlaid $30m for the 1503 square metre amalgamation, a row of shops, covering 70 Bunda St and 47 Garema Pl.
That seller, Geocon, mooted a hotel in 2018.
Crystalbrook Aurora will also include a rooftop bar, wellness centre an function rooms; the end value is expected to circle $200m.
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