Shellharbour council waives developers' debt weeks after $7m Gold Coast sale

Connor Pearce
Updated May 31 2024 - 8:20am, first published May 29 2024 - 1:22pm
Samy Saad (insert), the developer behind the Elevation 77 apartment block in Shellharbour City Centre, had a $50,000 debt to council written off, weeks after he sold a site on the Gold Coast for $7 million. Picture by Sylvia Liber
Samy Saad (insert), the developer behind the Elevation 77 apartment block in Shellharbour City Centre, had a $50,000 debt to council written off, weeks after he sold a site on the Gold Coast for $7 million. Picture by Sylvia Liber

Weeks after securing a $7 million windfall from the sale of a 1600 square metre block on a prime piece of the Gold Coast strip, Shellharbour City Council voted to waive $50,000 in debts owed by failed Kiama developer Samy Saad to the council.

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Connor Pearce

Connor Pearce

Journalist at Illawarra Mercury

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