Gold Coast City Council has approved what will be the region's tallest tower.

The as-yet unnamed building will tower 285 metres. With 88 levels, the tower will contain 693 apartments, three recreation decks, a high-end shopping precinct, and a number of luxury dining options. The apartments will be rated 5-star green star, in line with world's best practice.

The tower's design is by DBI architects, and takes its inspiration from waves breaking on the Gold Coast's headlands.

The project will include $2 million worth of spending on major public art.

Forise Holdings, one of China's largest diversified financial holding companies, acquired the site in January this year. 

In a letter to Mayor Tate, Forise Chairman Xin Wang said, "My brief to the team has been quite simple - to create a world-class and iconic tower which will not only add beauty to the impressive skyline of the Gold Coast but take its place as one of the most outstanding buildings on the skyline of the world."

The building will occupy the site formerly held by Iluka, one of the first high rises on the Gold Coast. Construction on the new project is expected to commence in March, and is forecast to be complete in 2020.

The approval was granted under delegated authority, as a means to fast-track the project which is expected to create 830 full-time jobs during construction over four years. The project is forecast to deliver more than $2 billion worth of economic benefits to the region. When complete, the building will provide more than 600 jobs in retail, hospitality, and services.

The building's slim design counters concerns about overshadowing.

This story brought to you by RE Talk Asia.