SkyHaven continues to make exciting progress, with construction advancing ahead of schedule, significant opportunities emerging from major regional infrastructure projects and further progress on Stage 1 financing.
Read on for the latest developments and important investor updates.
Construction Progress: Ground Floor Slab Underway
Following the official commencement of Stage 1 construction and the on-site media launch on 3 September, SkyHaven has reached another significant milestone with the commencement of the base slab concrete pour.
Concrete trucks arrived on site at 6 am on the 16th of October, and the first sections of the ground floor slab were completed by mid-morning. Concrete pouring will continue into next week, with the ground floor structure set to begin taking shape soon.
Despite persistent, unseasonal rain throughout September, construction remains ahead of schedule, providing positive momentum as the project progresses.
MiHaven Constructions’ project management team is now permanently based on site, providing hands-on oversight of daily construction operations. The team includes Director James Mort, Head of Safety Stuart McDonald, Design Head Architect Patricio Llordella, Architect Lucia Del Moro and Project Assistant Steph Weiss.
Working closely with MiHaven Constructions’ building team and subcontractors, the team is overseeing day-to-day activities to support the ongoing delivery of Stage 1.
The latest construction milestone was celebrated in true Australian style, with the project management team, construction crew and subcontractors gathering for a well-deserved Friday lunchtime BBQ on site.
(L-R) Richard Barker, CEO Cairns & Mackay Airports, James Mort, Director MiHaven Constructions & SkyHaven Proponent, SamBrayshaw, MiHaven Constructions.
Cairns Hospital Expansion Strengthens Accommodation Opportunity
A significant development for the region occurred on 15 September, when theQueensland Government awarded the tender for Stage 1 of the Cairns Hospitalexpansion, valued at approximately $780 million, to the joint venture of CPB Contractorsand Hansen Yuncken.
The broader $1 billion Cairns Hospital expansion represents Far North Queensland’slargest single health investment in history and is set to deliver additional health services to the region.
The project is also expected to generate substantial workforce accommodation demand. Hansen Yuncken estimates an average of more than 800 additional contract workers willrelocate to and work in the region daily from late 2027 through to 2031.
SkyHaven has been nominated as the preferred accommodation facility to support thetransitional project and construction workforce as part of the CPB Contractors andHansen Yuncken tender.
This presents an important potential opportunity for SkyHaven, with the anticipatedworkforce demand closely aligning with the targeted Stage 1 opening in early 2028.
Combined with SkyHaven’s strategic location near Cairns Airport, this developmentfurther highlights the project’s potential to support the region’s growing need forconveniently located accommodation.
Stage 1 Financing Milestone
Further progress has been made with the completion of the financial facility agreementwith Commonwealth Bank of Australia (CBA) for Stage 1 non-recourse debt finance withTAA Pty Ltd.
This marks another important step in advancing the development and supporting thedelivery of Stage 1.
Investment Opportunities
As construction progresses and demand for strategically located accommodation in Cairns continues to strengthen, SkyHaven remains well positioned to pursue opportunities arising from the region’s ongoing development and infrastructure investment.
We welcome enquiries and referrals to colleagues, business associates or others who may be interested in investing in SkyHaven.
Existing investors who are considering increasing their investment allocation are also encouraged to enquire. Additional investment capacity is available, with some investors already having chosen to increase their allocation since their initial investment.
Looking Ahead
With construction progressing ahead of schedule, a major regional infrastructure project presenting a potential accommodation opportunity and Stage 1 financing arrangements completed, SkyHaven continues to move forward towards its targeted opening in early 2028.
Thank you for your continued support and confidence in SkyHaven. We look forward to sharing further project milestones and updates with you as development progresses.
