Aventuur will use cutting-edge 'Wavegarden Cove' technology to deliver Western Australia's first wave park - a leading surf, leisure and tourism destination with a focus on environmental sustainability.
The project will create up to an estimated 200 jobs during planning and construction, and is expected to employ more than 100 people once operational.
The proposal will now progress to the next stage of negotiations, with any future development still subject to relevant planning and building approvals.
