The Aurora Penthouse in Surfers Paradise was sold at auction on the weekend to Hong Kong billionaire Tony Fung, who is planning to build the Aquis Casino in Cairns and recently purchased Patinack Farm in the Gold Coast hinterland and Casino Canberra. The starting bid price was $3 million, and the auction saw 20 bids placed before Fung won with a bid of $7 million. There were approximately 60 people at the auction, about 70 groups toured the apartment at 7001/14 The Esplanade, according to McGrath Surfers Paradise agents John Natoli and James Ledgerwood.

"The competitive bidding seen on the day is a clear sign that confidence is returning to the prestige sector of the Gold Coast real estate market and consistent with activity and offers we are receiving on other luxury properties," said Ledgerwood.

The penthouse, which spans four levels and boasts stunning ocean vistas, was stripped down to a shell and marketed as a one-in-a-lifetime opportunity to purchase a ‘Space in the Sky.’ The property was sold by receivers at PricewaterhouseCoopers, Michael Fung, Gregory Winfield Hall and Derrick Craig Vickers. It was purchased in 2006 by Charlie Caltabiano for an Australian record of $16.85 million, but the contract was terminated in 2014 after the deal failed to settle.