Plans have been approved for a AU$90m (US$83.4m, €62.4m, £49.7m) waterpark on the Sunshine Coast, Queensland, Australia, to include a wave pool, waterslides, canoeing experience, 120-room hotel, restaurants and a holiday village.

Specialist consultancy Waterplay – which has previously worked on projects including Sunway Lagoon in Malaysia and Wadi Adventure Park in the UAE – has been granted planning permission for the 24 hectare (59 acre) site, which will break ground within the next 12 months.

Approved by the Sunshine Coast Council, the developers say the waterpark will rival the Gold Coast’s Wet’n’Wild and WhiteWater World waterparks.

An independent economic report conducted by Waterplay indicates the development would create around 430 jobs in the construction phase, with 250 permanent jobs upon opening. A report prepared by Sunshine Coast Council said the park site was not within an area with a designated tourism focus but that the project was supported because of the expected economic benefits and suitable infrastructure, while visible sections near the entrance would respect the "semi-rural character" of the area.

The development will be built over two construction periods, with a water and surf pool – using Webber Wave Pools technology – built first, followed by the non-water elements, such as the hotel and holiday village, which will total 247 rooms.

The waterpark will serve a dual purpose, with Surfing Australia backing the project as “a high-performance training environment for surfers,” referring to the proposed facility’s surf pool. The facility is expected to open in late 2016.