One of the Gold Coast’s most anticipated beachfront developments has taken a major step forward, with Monaco Property Group receiving council approval for Nalu, a $500 million ultra luxury residential project on the former Nobbys Outlook site.
The 7,238 square metre site, which Monaco Property Group acquired for $70 million in 2024 and officially settled on 9 October 2025, features more than 80 metres of absolute ocean frontage and occupies one of the most prominent coastal positions between Mermaid Beach and Miami.
Following approval, Monaco will move into the delivery phase of the project, collaborating with BDA Architecture, LDG Landscape Architecture and Tom Mark Henry Interiors to bring Nalu to life. The project will comprise just 45 high end residences, including expansive 237 square metre apartments through to palatial full floor and multi level homes exceeding 1,400 square metres.
At the centre of the development is a 2,200 square metre lifestyle precinct with a wellness focused bathhouse, resort pool and fitness centre supported by concierge services. The design language, according to Monaco Property Group, is inspired by the rhythm of the ocean and the site’s natural contours, incorporating a strong connection between the beachfront and the elevated parkland of Lions Head Park.
Jonathan Grasso, Co Founder of Monaco Property Group, said council’s approval marks a pivotal milestone in bringing Nalu to market.
“The project will now progress toward construction, working alongside our world class collaborators to bring Nalu to life,” he said. “Our vision is to create a legacy project for the Gold Coast, one that honours the history of the site while setting a new benchmark for coastal living in Australia.”
Nalu is scheduled for launch in Q1 2026, with construction expected to commence shortly after and completion targeted for Q3 2028. The project is also expected to deliver strong economic benefits for the region through local job creation and supply chain engagement.
The Nobbys Outlook site has long been part of the Gold Coast’s coastal identity. Originally developed in the 1970s as a residential resort and later refurbished in 2019 under the Nalu name, the property has been vacant in recent years following receivership. Monaco Property Group’s redevelopment will transform the site into one of Australia’s most exclusive beachfront addresses, blending architectural sophistication with large scale residential amenity.
Nalu adds to Monaco Property Group’s growing portfolio of high end coastal developments across southeast Queensland and is positioned to become a defining benchmark in the next era of Gold Coast luxury projects.
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