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Three-time world champion surfer Mick Fanning is reported to have invested in the artificial wave surf park pool development at Parkwood Village on the Gold Coast.

The $300 million surf and golf resort, now branded as the Palm Valley Gold Coast Resort, will use Endless Surf technology to generate its waves within a stainless steel Myrtha Pools lagoon.

Fanning is backing the vision of Luke Altschwager, Managing Director of The Club at Parkwood Village, to create the innovation leisure destination which will feature a wave pool for amateur and professional surfers, an 18-hole golf course, a high-performance surf centre and gym, a beach club, a brewery and over 200 apartments.

The first phase of the project, which includes the wave pool and other core facilities, will cost around $120 million and is scheduled to open in 2027.

Explaining his investment, Fanning told the Australian Financial Review, “Luke is from the golfing world and knows the hospitality side. He wanted credible people on the surfing side

“He gave me an offer I couldn’t refuse.”

The Endless Surf technology in the wave pool, which Fanning trialled in Munich, can create an uninterrupted flow of waves, allowing surfers to catch hundreds of waves in a single session.

Fanning added “it was really exciting to catch 150 waves in four hours.

“Surfers will travel anywhere to catch a wave.”

The development is expected to generate significant economic benefits, with projections of 760 construction and 473 permanent jobs while being projected to 900,000 annual visitors.

Fanning’s other businesses include having co-founded Balter Brewing Co, which was sold to Carlton and United Breweries for a reported $200 million in 2019, an investment in FS8 fitness studios and his own softboard company ‘Mick Fanning Softboards’.

Image: Concept for the surf park and related property at Palm Valley Gold Coast Resort.

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