Clive Palmer, the once Federal Member for Fairfax, said he would repair the long-neglected site out of  a “duty of care for the people of the Sunshine Coast”.

Mr Palmer vowed to completely refurbish 300 premium studio, two and three bedroom apartments, with the upgrade also set to feature seven restaurants and the total renovation of the Village Square – once one of Australia’s premium luxury enterprises.

The billionaire added the resort will include replicas of the Wonders of the World and famous landmarks including a “full-size Trevi Fountain”.

“The resort will be returned to beyond its former glory, stimulating jobs and economic growth for the region,’’ he said in a statement.

A picture of the Trevi Fountain

The site will have a full-size replica of the Trevi Fountain

Mr Palmer said 100 tradespeople and construction staff were already on site at the resort near Noosa, with a further 100 expected to be employed on the project by mid-year.

“The Sunshine Coast has suffered due to the massive turndown in tourism over the past 12 months and will face further economic hardships once the JobKeeper program finishes.

“This project will provide much needed economic stimulus during construction and into the future as a major visitor drawcard for the region.”

“I would like to see the Queensland Premier to follow suit and step up her investment in the Queensland tourism sector. I am also calling on others who have been fortunate in business to do what they can to get Queensland moving again.”

A dinosaur exhibit in Clive Palmer's resort.

Before closing in 2015. Clive Palmer’s resort had a dinosaur exhibit.

At the heart of the revitalised Palmer Coolum Resort will be the world class Robert Trent Jones Jnr-designed golf course, the former home of 11 Australian PGA Championships, which is currently open for play and presented in immaculate condition.

The resort was closed in 2015, with Clive Palmer claiming the accommodation and conference centres were closed for renovations – 40 staff lost their job.

Mr Palmer offered a $20 million settlement deal as part of a eight-year dispute with villa owners on the site late last year.

The site is tipped to open in the second half of 2022.