QLD: Raptis and Gold Coast will pull through: property analyst

AAP General News (Australia)
02-04-2009
QLD: Raptis and Gold Coast will pull through: property analyst

By Crystal Ja

GOLD COAST, Feb 4 AAP - The Gold Coast property market may have taken a body blow with
the collapse of the Raptis Group empire, but it is bound to recover, a property analyst
says.

One of Queensland's richest developers, the Raptis Group went into voluntary administration
for the second time in its history late last month, on the back of a worsening financial
crisis.

Signs had not been good for months after a construction halt on the $700 million Hilton
Hotel development at Surfers Paradise, the first hotel …