Pikos Group and Mastrocostas Family Break Ground on $620M Gaia Riverfront Development in Brisbane

Brisbane, QLD – Pikos Group has officially broken ground on its highly anticipated $620 million Gaia riverfront development at Kangaroo Point in Brisbane in collaboration with the Mastrocostas family. This marks the developer's second major riverfront project within two years and follows the success of its previous ventures.

The Gaia development will feature two residential towers and an expansive private parkland, further solidifying Pikos Group’s growing presence in Brisbane’s booming property market. With Gaia now under construction, the company’s total value of active projects in the city has surged to approximately $1 billion.

The Gaia project, set to span two-and-a-half years, aims to ease Brisbane’s housing shortage and generate approximately 695 direct and indirect jobs. Economic contributions from the development are projected to reach around $110 million, providing a significant boost to the local economy during a challenging period for the construction industry.

According to Pikos Group Founder and Executive Director Pedro Pikos, Gaia is the culmination of over a decade of careful planning and strategic land acquisition. Since 2014, the developer has amassed 5,300 square meters of prime riverfront land across eight lots, all offering uninterrupted views of the Brisbane River. “Gaia represents our vision of a high-end, sustainable living space that seamlessly integrates with both the natural environment and the city,” said Mr. Pikos.

Once completed, Gaia will comprise 215 luxury apartments in two—to four-bedroom configurations across two 15-storey towers. The development will also include significant green space, with more than 20 dedicated wellness and leisure areas exclusive to residents, reinforcing Pikos Group’s commitment to fostering a balanced urban lifestyle. The design also incorporates pedestrian connections to nearby bridges, improving connectivity to the broader Kangaroo Point and Brisbane CBD areas.

A Commitment to Sustainability and Wellness

The name “Gaia,” derived from the ancient Greek goddess of the Earth, reflects the project’s focus on environmental harmony. In line with this, Gaia will feature Brisbane's largest private parkland, designed to offer residents a peaceful retreat in the city's heart. Chief Executive Officer Michelle Wooldridge highlighted the development’s significance, noting the challenges faced by the construction industry in recent years. “Despite these pressures, Gaia marks our second major project in just two years, pushing the total value of our active developments to almost $1 billion,” said Ms Wooldridge.

Gaia’s construction is a collaboration between Pikos Group and the Mastrocostas family, long-standing figures in Queensland’s construction sector. The two groups have formed M2M Constructions to manage the project, a partnership to leverage their combined expertise and bring the ambitious vision to life. “This collaboration underscores the importance of strategic partnerships to deliver large-scale projects in today’s competitive property market successfully,” added Wooldridge.

Prime Location and Future Connectivity

Situated in one of Brisbane's most scenic spots, the Gaia development boasts views across the wide bend of the Brisbane River towards New Farm. The completion of the nearby Kangaroo Point Green Bridge in December 2024 will enhance pedestrian and cyclist access to the Brisbane CBD, making the site even more attractive for residents who seek a quiet, riverside retreat with easy access to the city.

DKO Architecture will design the two towers to maximize river and city views. Interiors will feature luxury finishes, including natural stone, timber flooring, and high-end appliances. Residents can access various exclusive amenities, including an indoor-outdoor gym, rooftop entertainment spaces, a garden workshop, a yoga lawn, outdoor cinema, private dining areas, and work-from-home facilities.

This marks Pikos Group’s second high-end project at Kangaroo Point, following its ongoing Skye by Pikos development at River Terrace. Prospective buyers can view a sales display by appointment at 8 River Terrace, Kangaroo Point.

Green Bridge and Sustainable Design Innovations

Meanwhile, the highly anticipated Kangaroo Point Green Bridge, set to open on December 15, will provide a direct pedestrian and cyclist link between the CBD and Kangaroo Point. This new infrastructure is expected to significantly improve accessibility between the two areas, benefiting residents, commuters, and visitors alike.

The Green Bridge has received an 'Excellent' rating from the Infrastructure Sustainability Council’s Design Rating Scheme, the first Brisbane City Council project to achieve such recognition. The bridge’s sustainable design includes solar panels that will power its lighting and lifts and cutting-edge technologies such as drone-based water sampling and infrared sensors to monitor river levels and flood risk. In addition, the bridge’s construction included using a river-based tower crane, minimizing disruption to the waterway and surrounding community.

By offering a seamless, car-free connection between Kangaroo Point and the heart of Brisbane, the Kangaroo Point Green Bridge will help promote sustainable transportation while enhancing the area’s appeal as a desirable place to live.

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This bold new development is expected to set a new benchmark for luxury living in Brisbane. It combines prime location, sustainable design, and world-class amenities in a vibrant, connected community.