The Greater Rewards Group, backed by the Chinese-owned Homeland Property Developments, has acquired the 269ha subdivision south of Bowen for $3.5 million.

If given the green light by council the company plans a $900 million revival of the Whitsunday Shores estate. Plans have been unveiled for a residential community of 1,800 homes plus an aged care and retirement living precinct, a commercial precinct with supermarket, childcare centre, sporting fields, community clubhouse and tavern.

The WA-based Aspen property group had bought the land for $23 million back in 2006 for a seafront residential estate and golf course but only built the first stage of around 200 homes.

A spokesperson for Greater Rewards says they were attracted by the area’s tourism and lifestyle potential. “They see the Whitsundays area has huge untouched potential for tourism and also for people to buy and move into the area,” he said.

The development will seek to cater to a wide range of buyers from first home owners to downsizers and will feature a range of accommodation options including townhouses, traditional homes and units as well as potential tourist accommodation.

The first stage of the development would see construction of a range of housing lots, a sporting field and club house and the first stage of the commercial precinct with the addition of further housing lots, commercial and retail options as the estate is developed.

The Greater Rewards Group are hoping that the development application will be discussed by council soon.