Monaco Property Group launches $500m NALU beachfront project at Miami

What's happening

Monaco Property Group has launched NALU, a $500 million beachfront residential project at 122 Marine Parade, Miami, at the base of Nobby's headland between Nobby Beach and Burleigh Heads. Sales and early construction works have both started.

The 7,238 m² site, bought in 2024 for $70 million, has 80 metres of beach frontage and three street frontages. It is within about 450 metres of the Nobby Beach dining and retail strip.

The key details

BDA Architecture designed the project, with interiors by Tom Mark Henry and landscaping by LDG. Co-founder Jonathan Grasso said the developer wants the project to stand the test of time.

• Residences: 44, from about 237 m² to more than 1,400 m²
• Prices from $6.95 million for 293 m²; a six-bedroom ultra-penthouse is priced above $30 million
• Twelve residences have private rooftop terraces with pools
• More than 3,000 m² of resident facilities, including a bathhouse, two pools and a golf simulator
• Sales by Kollosche; construction through EastBuild Partners and Eastview

Timeline and next steps

G&H Civil is carrying out early works. The developer has not announced a completion date, and the report did not state the building height or approval details.

Enquiries have come from nearby Hedges Avenue and Albatross Avenue owners as well as buyers in Brisbane, Sydney, Melbourne and New Zealand. The delivery team includes EastBuild Partners as the construction arm, with Eastview, led by Graham Goldman, handling project and construction management. Kollosche, led by principal Michael Kollosche, is the exclusive sales and marketing agency.

What it means for Gold Coast property owners and developers

A $500 million launch with entry prices near $7 million shows the depth of demand at the very top of the Gold Coast market, particularly for absolute beachfront land on the southern coast. Interest from established Mermaid Beach owners suggests local downsizers are a key part of that demand.

For owners of beachfront homes and apartments between Mermaid Beach and Burleigh Heads, the project sets a new benchmark for new-build pricing in the area. Off-the-plan prestige sales depend on construction and market conditions, so buyers should review contracts and timeframes carefully. This is general information, not financial advice.

Frequently asked questions

Where is NALU?

At 122 Marine Parade, Miami, at the base of Nobby's headland between Nobby Beach and Burleigh Heads.

How much do NALU residences cost?

Prices start from $6.95 million for a 293 m² residence, with a six-bedroom ultra-penthouse priced above $30 million.

Has construction started?

Early works are under way, led by G&H Civil. No completion date has been announced.

Source: Australian Development Review, published 5 October 2026. This article is an independent summary and commentary by GC Prestige based on the original report — read the source for full details.