5POINT Breaks Ground on Premium Boutique Alora Development in Rainbow Bay

Southeast Queensland builder-developer 5Point has commenced construction on Alora, a boutique collection of just 38 residences on an elevated corner site in Rainbow Bay, one of Australia’s most tightly held coastal locations, as the company continues to expand its premium residential development portfolio across the Gold Coast.

The $100 million, 17-level Alora will rise from an elevated 810sqm Rainbow Bay corner site at 12 Ward Street, Coolangatta, with demolition now complete and construction underway, completion is scheduled for the third quarter of 2028.

Alora will deliver 38 premium residences, comprising 22 two-bedroom apartments, 14 three-bedroom apartments, and two penthouses, with every apartment positioned to capture both northerly and southerly ocean views.

Developed and built by 5Point, Alora represents a significant new addition to Rainbow Bay, a tightly held pocket at the southernmost end of the Gold Coast bordering the NSW Tweed Coast and home to the world-renowned Snapper Rocks surf break.

5Point Founder and Managing Director Damian Dove said commencing construction marked a major milestone for Alora and reinforced the company’s commitment to delivering premium residential projects in tightly held Gold Coast locations.

“Rainbow Bay is one of Australia’s most tightly held coastal locations and opportunities to secure a site of this calibre are exceptionally rare.

“We recognised immediately what made this site special. Its corner position provides expansive outlooks in multiple directions, from Rainbow Bay and Snapper Rocks through to the Surfers Paradise skyline and across to the Tweed and hinterland.

“We wanted to create a premium residential building that responds to Rainbow Bay’s environmental landscape and the way people want to live here.

“5Point’s role as both developer and builder was fundamental to how the company approached Alora. All residences have ocean views, generous outdoor spaces and the architecture and interiors that have a genuine connection to this coastal location.

“Now that demolition is complete and construction is underway, we are moving into the delivery phase of that vision, where our team is focused on producing a quality premium product for our buyers,” Mr Dove said.

Partnering again with the award-winning TVS Architects, and led by Director Brett Harbourne, Alora’s architecture, interiors and landscaping have been conceived as a cohesive response to the coastal setting,

incorporating natural materials, a timeless coastal palette, laid out on floorplans that capture modern-day living and amenities buyers are looking for.

ARC Project Marketing’s Dylan Molloy, who is managing sales at Alora, said the combination of construction commencing, limited new apartment opportunities in Rainbow Bay and 5Point’s builder-developer model strengthened the development’s appeal.

“Rainbow Bay has long been one of the Gold Coast’s most tightly held coastal locations, with very few opportunities to secure a brand-new apartment in a boutique development of this scale.

“Buyers today are looking beyond location and design. They want confidence in who is delivering the project, and having 5Point as both developer and builder ensures Alora will be built with that certainty.

“Alora has generated strong interest from local owner-occupiers seeking liveable floorplans with premium finishes and lifestyle amenities, combined with views that are increasingly difficult to replicate in this part of the Gold Coast.

With construction underway, it further reinforces confidence in the project’s delivery,” Mr Molloy said.

Two-bedroom residences range from 103sqm to 116sqm and are priced from $1.7 million, while three-bedroom residences range from 154sqm to 169sqm and start from $3.2 million.

Resident amenities will include a 15-metre swimming pool, spa, sauna, steam room and gymnasium, together with private dining, a residents’ lounge and bar, work-from-home facilities and personal surfboard lockers.

Alora continues 5Point’s expanding portfolio of boutique residential developments across the Gold Coast and SEQ, having delivered more than $1.75 billion in projects and received multiple awards for design excellence, quality and sustainability.

5Point’s most recent Gold Coast projects include Ophira at Palm Beach and Faro at Broadbeach, both completed earlier this year. The company is also delivering Palm Shores at Palm Beach, scheduled for completion in Q2 2027, and Lumara at Broadbeach, scheduled for completion in Q2 2028.

The Alora sales display located at 9/118 Griffith Street, Coolangatta, Gold Coast is open by appointment. Contact Dylan Molloy, ARC Project Marketing, phone: 0430 716738. For more information, visit www.alorarainbowbay.com.au.